By Axel Rudolph, MSTA
A DOW JONES NEWSWIRES COLUMN

LONDON (Dow Jones)--Rolling 24-hour chart levels:
Forex spot: EUR/USD USD/JPY GBP/USD USD/CHF

Spot 0645 GMT 1.4106 97.70 1.6422 1.0757
3 Day Trend Bullish Capped Bullish Capped
Weekly Trend Bullish Bouncing? Bullish Bearish
200 day ma 1.3355 96.75 1.5402 1.1396
3rd Resistance 1.4269 98.90 1.6580 1.0950
2nd Resistance 1.4235 98.44 1.6500 1.0908
1st Resistance 1.4168 98.20 1.6435 1.0836
Pivot* 1.4093 97.50 1.6381 1.0768
1st Support 1.4070 97.50 1.6298 1.0748
2nd Support 1.4000 97.24 1.6242 1.0712
3rd Support 1.3945 96.98 1.6199 1.0666

The following are forecasts for Wednesday's trading session. They may, at times, be at odds with the three-day and weekly trends in the table above.
Intraday EUR/USD: The euro now targets $1.4168 minor resistance, the May 29 peak. Above it minor resistance is seen around $1.4235, the 78.6% Fibonacci retracement of the December-to-March decline. Minor support floats around $1.4070, Thursday's low, and the $1.40 region.
Weekly chart EUR/USD trend: Bullish.
Intraday USD/JPY: The dollar may well revisit Y97.50, the 50% Fibonacci retracement of the March-to-April advance, Wednesday. Below it support comes in at Y97.24, the May 28 peak. Further down support is seen around Y96.98. Minor resistance lurks around Monday's Y98.20 low and at Y98.44, the 38.2% Fibonacci retracement.
Weekly chart USD/JPY trend: Bouncing?
Intraday GBP/USD: Sterling surges ahead and targets $1.6435, the June 4 high. Above it lurks the $1.6500 resistance area and resistance at $1.6580. Minor support comes in around $1.6298 and at $1.6242, the June 3 low.
Weekly chart GBP/USD trend: Bullish.
Intraday USD/CHF: The dollar is slipping again and nears CHF1.0748 minor support, that's Wednesday's intraday low, a decline through which has CHF1.0712, the 78.6% Fibonacci retracement of the December-to-March advance, in view. Minor resistance lurks around Monday's CHF1.0836 low and at CHF1.0908, the June 5 peak.
Weekly chart USD/CHF trend: Bearish.


Forex spot: EUR/GBP EUR/JPY EUR/CHF AUD/USD

Spot 0645 GMT 0.8595 137.69 1.5171 0.8091
3 Day Trend Bearish Bullish Capped? Bullish
Weekly Trend Bearish Bullish Range Bullish
200 day ma 0.8706 129.31 1.5199 0.7044
3rd Resistance 0.8695 139.80 1.5272 0.8229
2nd Resistance 0.8649 139.26 1.5237 0.8152
1st Resistance 0.8625 138.02 1.5198 0.8123
Pivot* 0.8606 137.41 1.5175 0.8067
1st Support 0.8595 137.43 1.5150 0.8015
2nd Support 0.8576 135.70 1.5115 0.7986
3rd Support 0.8521 135.30 1.5075 0.7935

Intraday EUR/GBP: The euro is expected to tumble further and probes Tuesday's GBP0.8595 low point, a decline through which has GBP0.8576, last week's low, and then GBP0.8521 minor support in focus. Minor resistance is seen around GBP0.8625 and GBP0.8649, falling again and probes minor support at GBP0.8625, a decline through which has GBP0.8576, Monday's low.
Weekly chart EUR/GBP trend: Bearish.
Intraday EUR/JPY: The euro now eyes Y138.02 minor resistance where the June 3 high was made. Above it lurks minor resistance around Y139.26, the current June peak, and Y139.80. Minor support comes in at Y137.43, Thursday's high, and Y135.70.
Weekly chart EUR/JPY trend: Bullish.
Intraday EUR/CHF: The euro looks set to remain above its CHF1.5150 minor support area Wednesday. This is where Tuesday's low was made. As long as this holds a retest of CHF1.5198 minor resistance should be on the cards. further up resistance is seen around CHF1.5237, the current June high, and CHF1.5272, the Apr. 9 peak. If, however, CHF1.5150 support was to give way, support around the 38.2% Fibonacci retracement of March's advance at CHF1.5115 would be in focus again. Below it support is seen around CHF1.5075, the May 29 low, and at the current CHF1.5049 June low.
Weekly chart EUR/CHF trend: Range.
Intraday AUD/USD: The Australian dollar is heading higher again and nears US$0.8123 minor resistance, that's Friday's high. Above it, resistance is seen around US$0.8152, the June 1 high, as can be seen on the chart below. Minor support is seen around US$0.8015 and Monday's US$0.7986 high.
Weekly chart AUD/USD trend: Bullish.
See chart at
http://www.dowjoneswebservices.com/chart/view/2215
* The pivot is the sum of the high, low and close divided by 3.
For more technical analysis see: Dow Jones Newswires, N/DJTA; Bloomberg, NI DJTA; and Reuters key word search "INSI-DJN"
-By Axel Rudolph, Dow Jones Newswires; +44 207 842 9249; axel.rudolph@dowjones.com
Axel Rudolph, vice president, Europe, at the International Federation of Technical Analysts and a vice president at the Society of Technical Analysts in the U.K., is Dow Jones' chief technical analyst for Europe. He was shortlisted in the best technical analyst and best equity & research strategy categories at The Technical Analyst awards 2009.
Data provided by CQG International Ltd.
(This article is general financial information, not personalized investment advice, as it does not consider the unique circumstances affecting an individual reader's decision to buy or sell a specific security or currency. Dow Jones does not warrant the accuracy, completeness or timeliness of the information in this article, and any errors will not be made the basis for any claim against Dow Jones. The author does not invest in the instruments or markets cited in this article.)
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(END) Dow Jones Newswires
June 10, 2009 03:13 ET (07:13 GMT)