Short Term Technical Analysis for Majors (08:00 GMT)

WindsorBrokers

Windsor Brokers Representative
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EUR/USD
The pair continues to trend higher after yesterday’s close above 1.3200 handle, with overnight’s fresh strength, approaching key short-term barrier at 1.3290/1.3300, 08 Mar peak / Fib 61.8%. Near-term structure remains supportive and clearance of 1.3290/1.3300 to confirm bottom at 1.3000 and expose previous support and break point at 1.3360 zone. Immediate support lies at 1.3250, yesterday’s high / 20 day EMA, ahead of 1.3210, 55 day EMA and key near-term support at 1.3170, yesterday’s low / Fib 38.2% of 1.3000/1.3282. Only break here would delay bulls.

Res: 1.3240, 1.3264, 1.3290, 1.3300
Sup: 1.3250, 1.3210, 1.3190, 1.3170

eurusd_20120321075828.gif




GBP/USD
The upside levels above 1.5900 stay intact for now, as the pair moves sideways, holding just above broken 200 day SMA, currently at 1.5856. Hourly studies are still neutral, while daily structure sees signs of improvement, however, clear break above 1.5900/13 is required to confirm and open 1.6000 zone for retest. On the downside, 200 day SMA offers initial support, ahead of 1.5830/20 higher base, also 20 day EMA, with break below here to weaken the near-term structure.

Res: 1.5894, 1.5900, 1.5913, 1.5974
Sup: 1.5856, 1.5830, 1.5820, 1.5800

gbpusd_20120321075810.gif




USD/JPY
The near-term price action remains entrenched within 83.00/83.80 range, after bounce off 83.00, regained initial barrier at 83.60, but failed on approach to the next barrier at 84.00 zone. The near-term studies remain neutral, with break of either limit to define the near-term price direction. Extended daily studies, however, see potential for stronger reversal.

Res: 83.75, 83.82, 83.93, 84.00
Sup: 83.52, 83.28, 83.00, 82.80

usdjpy_20120321075751.gif




USD/CHF
Returns to weakness, as the near-term recovery attempt off yesterday’s low at 0.9090, stalled at the first barrier at 0.9150. Fresh slide aims at 0.9100/0.9090, loss of which to resume short-term bears off 0.9333 high and expose next static supports at 0.9070/20. Yesterday’s high at 0.9150, is expected to cap the upside for now.

Res: 0.9124, 0.9138, 0.9150, 0.9176
Sup: 0.9078, 0.9070, 0.9020, 0.9000

usdchf_20120321075729.gif
 
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