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Asian hourly report

Posted on April 22, 2009 at 1:38 in Short-Term Analysis by Valeria Bednarik

EUR/USD Current price: 1.2927
Not much change from previous update, the pair remains bearish in the hourly chart, supported by price under the 20 SMA and momentum that just cut the 100 line upside down. 200 EMA far above actual price holds the keeps it’s bearish inclination. The pair is moving in a small upside channel, more likely a flag, a continuation figure that the pair needs to break to the downside to confirm it. Base of the figure, around 1.2910, will be next hour’s first support.

Support levels: 1.2910 1.2888 1.2851
Resistance levels: 1.2940 1.2990 1.3036
GBP/USD Current price: 1.4654
The pair has turned slightly bullish in the hourly chart, yet hovering right now, around the key 1.4660 static level. Clear move above 1.4686, will find next resistance around 1.4710 (Tuesday high) followed by the 1.4760 zone. No clear signals from mathematical indicators, 20 SMA along with an ascendant trend line, needs to remain intact to support the bullish bias. Movements under 1.4610 will deny previous view.

Support levels: 1.4632 1.4610 1.4553
Resistance levels: 1.4686 1.4710 1.4760
USD/JPY Current Price 98.55
Wall Street optimism during the American session, send the pair to the test the 98.90 zone, yet failed to break above. Still slightly bullish in the hourly chart, 20 SMA pointing to the upside should hold downside attempts to keep upside chances in the pair. CCI failed to break upside down the 0.00 line, and seems turning to the upside, as well as momentum; anyway, no clear signals there. 200 EMA is turning flat and losing strength. Above Tuesday’s high, more upside pressure could be seen

Support levels: 98.42 98.20 97.70
Resistance levels: 98.90 99.16 99.45
USD/CHF: Current Price: 1.1692

Still inside previous update range, between 1.1660/1.1740, the pair failed to break to the downside during the American session. Still we need to see a clear break of any of them, to define a certain trend. 20 SMA is quite flat, so lost strength: pairs moves up and down indifferently. 200 EMA keeps the slightly bearish tone, and should still should hold any further downside attempt in case it’s reached, now around 1.1560

Support levels: 1.1662 1.1633 1.1600
Resistance levels: 1.1716 1.1740 1.1770

Full report including charts, can be seen following this link:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-04-22.html

Tags: Majors

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