Currency Majors Technical Perspective

Valeria Bednarik from FXstreet.com Independent Analyst Team at 12/23/09

 

EUR/USD Current price: 1.4290


Regaining the upside, Euro is slightly bullish after U.S. data, approaching to the 1.4300/10 area, still with hourly indicators far from showing strength; above 1.4300, pair could extend the rally to the 1.4340 area, as bigger time frames support the bias. Beware of tiny volume and strong spikes these days.

Support levels: 1.4250 1.4220 1.4180

Resistance levels:  1.4300 1.4340 1.4410

GBP/USD Current price: 1.5949


Pound remains under pressure, holding a slightly bearish perspective. Capped under 1.5980 area, Above that level pair could attempt a recovery to 1.6010 area, ahead of 1.6060, while 1.5920 likely to remain holding the downside today.

Support levels: 1.5920 1.5880 1.5820

Resistance levels:  1.5980 1.6010 1.6060

USD/JPY Current price: 91.69


Pair holds pretty well above 91.40 support also moving in a tight range due to extremely low volumes. As comment in previous update, general tone remains bullish in the pair, thus we cannot discard corrective downside movements to the 91.00/20 area, that should remain unbroken to support the midterm trend.

Support levels:  91.40 91.10 90.80

Resistance levels:  91.85 92.10 92.40

USD/CHF Current price: 1.0412


Swiss Franc remains strongly bullish and broke under 1.0440 area, accelerating the fall. Holding above 1.0400, hourly indicators suggest a short upside pullback ahead, before another run lower. Next support comes at the 1.0365 area, while key resistance lies at 1.0440. Those are the levels to watch to see more definitions in the pair

Support levels: 1.0400 1.0365 1.0320

Resistance levels: 1.0440 1.0480 1.0510