Tue, Jan 27 2009, 07:41 GMT
by Slobodan Drvenica
EURUSD
Extended near-term decline to find support at 1.2764 last on 23 Jan. Bounce from there hints at a recovery towards 1.3387, with higher low by 1.3087 required to maintain immediate bulls.
Res: 1.3291, 1.3313, 1.3363, 1.3387
Sup: 1.3136, 1.3087, 1.3032, 1.2968
GBPUSD
Rebound off last Friday’s 1.3500 low retraced almost 38.2% of losses from 1.4982, 16 Jan lower high, at 1.4066, with further correction to 1.4241 likely, before relapse.
Res: 1.4135, 1.4217, 1.4241, 1.4280
Sup: 1.3931, 1.3898, 1.3858, 1.3820

USDJPY
Extended bear phase off 91.33, 19 Jan high, to 87.10 on 21 Jan, before correcting higher. Break above 89.65 is required to resume recovery, while loss of 88.27 will confirm a bear flag and open 86.02 instead.
Res: 90.17, 90.58, 90.98, 91.33
Sup: 88.70, 88.27, 87.97, 87.10
USDCHF
Reversal off last Friday’s 1.1717 bearish doji, broke below 1.1507, 23 Jan low, now threatening a return toward 1.1205. Regain of 1.1717, however, revives strength for 1.1807 next.
Res: 1.1452, 1.1507, 1.1528, 1.1600
Sup: 1.1318, 1.1290, 1.1248, 1.1205 
Published on Tue, Jan 27 2009, 07:44 GMT
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