Thu, Mar 5 2009, 14:16 GMT
by Slobodan Drvenica
EURUSD
Extended lower yesterday, from earlier triangle, to post a fresh year low at 1.2457. Corrective bounce so far capped by 1.2678 pivot. Bias is turned lower, seeking for retest of key 1.2329 low.
Res: 1.2621, 1.2665, 1.2678, 1.2737
Sup: 1.2457, 1.2423, 1.2388, 1.2329
GBPUSD
Briefly broke above 1.4200 today, ahead of sharp decline to 1.4036. this now keeps bears off 1.4365 firmly in play for retest of 1.3997/53. Lower top sought at 1.4150 zone to confirm, while only above 1.4232 offers relief.
Res: 1.4232, 1.4289, 1.4310, 1.4365
Sup: 1.4030, 1.3982, 1.3953, 1.3930
USDJPY
Broke higher from a bull flag yesterday to signal further strength. Clearance of 98.88, 50% retracement of 110.67/87.10 decline, targets 100.56 then 101.66. Downside, 98.90 buoys the advance.
Res: 99.69, 99.93, 100.56, 101.00
Sup: 98.88, 98.72, 98.35, 98.02
USDCHF
Maintains positive structure off 1.1465/60, 20/23 Feb double bottom. 1.1850 was seen yesterday, ahead of today’s dip to 1.1631. Lower rejection turns spotlight back onto 1.1850/84.
Res: 1.1801, 1.1850, 1.1884, 1.1925
Sup: 1.1684, 1.1631, 1.1613, 1.1595
Published on Thu, Mar 5 2009, 14:24 GMT
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