Tue, Jan 20 2009, 13:39 GMT
by Slobodan Drvenica
EURUSD
Maintains negative structure after recovery attempt off 1.3024 left a lower top at 1.3385 yesterday. Fresh bears breached 1.3024, now seeking for 1.2893, 76.4% retracement of 1.2330/1.4720 ascend. Upside remains capped by 1.3104 for now.
Res: 1.3104, 1.3174, 1.3244, 1.3280
Sup: 1.2903, 1.2893, 1.2850, 1.2798
GBPUSD
Loss of 1.4350, 2008 low, triggered fresh weakness to hit new seven-year lows. Today break below major support at 1.4040, 2002 low, posted 29 Jan, now attempt at 1.3906/1.3682, 2001 lows. Oversold hourly studies suggest correction, though 1.4150/1.4200 area expected to cap for now.
Res: 1.4150, 1.4215, 1.4280, 1.4360
Sup: 1.3800, 1.3798, 1.3733, 1.3682

USDJPY
Completed a base at 89.70 last Friday, before firming to 91.33. A higher platform at 90.07 now supports for the next phase higher to 91.56/66, then 92.04.
Res: 91.00, 91.33, 91.66, 92.04
Sup: 89.90, 89.72, 89.54, 89.25
USDCHF
Remains in a strong uptrend from 1.0368, 29 Dec low, with clearance of the key 1.1280/1.1310 resistance area, now focusing 1.1562, 61.8% retracement of 1.2296/1.0368 decline. Downside, 1.1315/1.1280 supports.
Res: 1.1500, 1.1532, 1.1592, 1.1625
Sup: 1.1338, 1.1318, 1.1280, 1.1255
Published on Tue, Jan 20 2009, 13:42 GMT
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