Short Term Technical Analysis for Majors (13:30 GMT)

[WindsorBrokers]

EUR/USD

Extends the near-term weakness from yesterday’s high at 1.4536, after losing initial supports at 1.4340/23, bull trendline / higher platform. Break below daily Ichimoku cloud and loss of support zone at 1.4281/71, 14 July high / Fib 38.2% of 1.3836/1.4536, further weakens near-term structure and risks further reversal towards 1.4200 zone, also Fib 50%. On the upside, 1.4325 zone offers initial resistance, while only regain of 1.4400 would improve near-term tone.

Res: 1.4300, 1.4325, 1.4376, 1.4400
Sup: 1.4250, 1.4200, 1.4190, 1.4156




GBP/USD

Remains in a near-term corrective mode, after upside rejection at 1.6440 triggered pullback. Break below 1.6338/20, previous high / main trendline support, softens the tone, with brief break below 1.6300 handle to increase risk of further retracement of short-term rally from 1.5779 and open 1.6260 higher platform and daily 90 day MA. Below here 1.6190, previous high posted on 14 July / Fib 38.2%, comes in focus. On the upside, immediate resistance lies at 1.6365/90 zone, with potential break here to re-focus 1.6440.

Res: 1.6334, 1.6343, 1.6365, 1.6390
Sup: 1.6293, 1.6260, 1.6234, 1.6200




USD/JPY

Corrective attempt from 77.56, fresh four-month low, was so far capped by 20 day MA at 78.16, with subsequent weakness losing 78.00 handle and looking for retest of 77.56. Break here risks a resumption of broader downtrend, with pre-intervention low at 76.32, posted on 16 Mar, in short-term focus. Yesterday’s high at 78.16 caps for now.

Res: 78.02, 78.16, 78.45, 78.67
Sup: 77.62, 77.56, 76.94, 76.32





USD/CHF

Remains in a near-term narrow range sideways trade, after posting fresh historical low at 0.7988 today. Current consolidation is seen preceding fresh leg lower, as near-term studies remain negative, with 0.7950/00 in focus. On the upside, only regain of 0.8075 would ease immediate bear pressure, while break above 0.8276 would provide short-term relief.

Res: 0.8045, 0.8076, 0.8100, 0.8135
Sup: 0.7988, 0.7950, 0.7900, 0.7850