EUR/USD Current price: 1.4054

Bearish in the hourly, pair is holding above 1.4040 static support zone, ahead of 1.4000 psychological level. With indicators suggesting more downside pressure, expect the rally to accelerate under that level. 4 hours indicators support the perspective also.
Support levels: 1.4040 1.4000 1.3960
Resistance levels: 1.4090 1.4135 1.4170
GBP/USD Current price: 1.6388

Under selling pressure, pair seems unable to regain the 1.6420 zone. A descendant trend line, along with 20 SMA should cap the upside, while clear break under today’s low at 1.6330 will accelerate the downside. Bigger time frames support the perspective as daily charts are about to give bearish signals.
Support levels: 1.6330 1.6280 1.6250
Resistance levels: 1.6420 1.6470 1.6520
USD/JPY Current Price 96.00
Falling strong, 96.00 is barely holding the downside despite indicators are close to oversold conditions in the hourly. Hourly candle opening under 95.90 or so, could trigger some bearish momentum in the pair, as bigger time frames also support further falls.
Support levels: 95.90 95.50 95.20
Resistance levels: 96.30 96.80 97.00

Consumer confidence slump in the U.S. falling under 50 level, and triggering a mayor risk aversion rally across the board that favours greenback as stocks turn negative in the U.S. Euro has 1.4040 ahead of 1.4000 zone, thus a bit over sold in smaller time frames.

EUR/USD Current price: 1.3241
First signs of exhaustion in the hourly chart are weighting in the pair, despite bigger charts remain bullish. The pair reached the 14.6% of the last up leg, so probably under 1.3230 corrections could extend to the 1.3300 zone. Pair failed to reach the strong descendant trend line around 1.3310, yet as long as remains around here, probabilities still favor the upside. Volume is high at this time, and probably increasing in the next couple of hours.
Support levels: 1.3230 1.3200 1.3160
Resistance levels: 1.3275 1.3310 1.3340
GBP/USD Current price: 1.4705
Also correcting to the downside, the pair is right now fighting a descendant trend line coming from yesterday’s low. Indicators are giving bearish signs with CCI cutting the 0.00 line and momentum pointing down. New candle opening under the trend line, could extend the downside correction to the 1.4660 zone.
Support levels: 1.4660 1.4610 1.4572
Resistance levels: 1.4740 1.4794 1.4830

 More majors, and charts, can be seen following next link:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-04-29.v03.html

Both Gbp and Japanese Yen, are breaking or close to break upside ranges: Gbp around 1.4660, barely 3 pips above it, better if moves above 1.4680, attemping for a short term rally to 1.4710/30 zone. Japanese yen fighting around 98.60 (seems 98.45 cleared), also better if above 98.77/85 to retest th 99.16 zone. Euro is fighting with a descendant trend line in 4 hours charts, coming from yesterday’s hig, around 1.2670/80. Candle opening above favor more buying in the pair.

These are the range levels for majors

Eur/Usd: 1.2888/1.3010

Gbp/Usd: 1.4465/1.4610

Aud/Usd: 0.6950/0.7050

Usd/Chf: 1.1660/1.1740

Usd/Jpy: 97.60/98.80

Usd/Cad: 1.2327/1.2430 ** Remember BOC decision could make some noise in here in the next half hour.

Greenback is gaining some ground after ADP survey sees march  U.S. private sector losing 742.000 jobs.
Stocks in Wall Street are set to fall, adding to this survey that Barack Obama said that General Motor should conclude banckrupcy. Dollar could quickly regain it’s safe haven status. Jusy keep that in mind.

We have a wave of economic reports in the next couple of hours, all of them pointing to come out negative. You can think, “well in that case, dollar will fall” but see what has been going on lately: bad news in the U.S. mean stocks falling heavily, and with them,  Euro and Gbp as risk aversion growths and traders leave those currencies a side, and go to the dollar. So bad news in the U.S. are meaning, lately, dollar strength against Europeans mostly! So, be careful, watch for technical levels breaks, and give each pair a couple of 15 minutes candles to confirm where can they go for the rest of the American session. I will be attached to the blog today, or at least try to!

The Usd/Chf is fighting the 4 hours ascendant channel base, and attempting to break lower: turn the 4 hours chart into 1 hour one. A candle opening under 1.2040, will probably trigger more selling pressure there, as the zone between 1.2040/55 seems to be a really tough support. Besides, some optimism is turning stocks higher, although nothing is defined yet there. Above 1.2095 the bearish lost strength at least for today.

In a few minutes, Dow Jones will open, and the index is weighting to much to be ignored: being at this lows, is expecting to open to the upside, mostly to due to the financial giant Citigroup, that is considering putting itself on the block. That will probably mean the Euro will find some strength to continue to the upside in the short term, and seems above actual maximum we could see the pair running to 1.2680. The pair Usd/Jpy will probably also move to the upside, being 95.50/60 the first important resistance level to consider. On the other hand, i see Gbp too week to even attempt to rise, but you now, maybe will follow the crow. Of course, if Dow Jones breaks to the downside, again consider that Usd dollar and Japanese Yen, will be the overall winners. I will try to add short posts as long as I see interesting options in the market!