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Hourly charts in majors

Posted on June 4, 2009 at 14:07 in Short-Term Analysis by Valeria Bednarik

EUR/USD Current price: 1.4137
Pair attempt to break to the downside the 1.4100 zone, yet halted at the 200 EMA in the hourly chart. High volume keeps the pair in range, between mentioned EMA and 20 SMA around 1.4165. Hourly indicators are slightly bullish, yet pair needs to break at least above 1.4180 to regain the upside with strength.
Support levels: 1.4100 1.4050 1.4010
Resistance levels: 1.4180 1.4220 1.4260

GBP/USD Current price: 1.6180
Pair turned to the downside, holding above the 23.6% of the daily rally 1.4395/1.6662. A bit exhausted to the downside, pair could regain the upside as long as 1.6140 remains intact. Bigger time frames show some bearish divergences in the pair that could extend the correction closer to the 1.6000 zone.
Support levels: 1.6140 1.6080 1.6020
Resistance levels: 1.6230 1.6290 1.6340

USD/JPY Current Price 96.41
Pair regained the upside after breaking above the 4 hours descendant trend line, and now seems to be ready to complete a pullback to it. 96.20 zone should hold the downside as we also have the 20 SMA with a bullish slope around that zone. Hourly indicators are tending lower, yet bigger time frames turn to the upside. Pair remains however, inside the wide range we have been following, and only a clear break above 97.25 zone could confirm further rises in the near term.
Support levels: 96.20 95.90 95.50
Resistance levels: 96.80 97.20 97.55

USD/CHF: Current Price: 1.0712
Contained by the 1.0720/50 strong resistance zone, pair continues bearish in the longer term, as long as the pair remains under that zone. Slightly bullish in the hourly chart, pair seems to have bottomed, yet only above 1.0800 we could see the pair begin a decent upside correction.
Support levels: 1.0680 1.0640 1.0600
Resistance levels: 1.0750 1.0790 1.0830

Tags: dollar, Majors

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