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Hourly technical report

Posted on May 13, 2009 at 13:58 in Short-Term Analysis by Valeria Bednarik

EUR/USD Current price: 1.3622

 Pair is tending lower after worst than expected data both in Europe and the U.S. trigger some risk aversion across the board. Both Momentum and RSI cut their central lines and kept the bearish slope suggesting further losses in the pair, thus 1.3557 remains the key level to the downside, and only a clear break under could trigger more sells in the pair. Price is under the 20 SMA that lost bullish slope and turns flat, better see it turning down. Break under mentioned key level could drag the pair close to 1.3470 in the term, 200 EMA.
Support levels: 1.3686 1.3657 1.3610
Resistance levels: 1.3648 1.3690 1.3710
GBP/USD Current price: 1.5120
BOE’s statement triggered a downside rally that halted around just around the 1.5115 tough zone we have been following these past days. Also in that zone, we have an ascendant 4 hours trend line coming from the 1.4702 lows, and the pair is having a hard time to break under. Indicators in the hourly seem exhausted, suggesting a probable upside correction in the line holds. 20 SMA has turn bearish and bigger time frames support further losses in the pair. Watch for a confirmation under this zone.
Support levels: 1.5110 1.5080 1.5015
Resistance levels: 1.5148 1.5190 1.5245

Full report and charts, could be seing following this link:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-05-13.v03.html

Tags: Chf, dollar, Euro, gbp, Jpy

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