Short Term Technical Analysis for Majors (07:00 GMT)

[WindsorBrokers]

EUR/USD
Overnight’s brief break below trendline support at 1.4400, tested yesterday’s intraday low at 1.4388, ahead of bounce back above 1.4400. This may weaken the near-term structure and possibly open 1.4350, range floor for test. On the upside, range ceiling at 1.4500 zone caps for now and only break here to revive bulls and resume broader uptrend from 1.4056, for test of key barriers at 1.4536//76.

Res: 1.4432, 1.4480, 1.4500, 1.4516
Sup: 1.4388, 1.4378, 1.4350, 1.4300




GBP/USD

Weakens the near-term structure after yesterday’s loss of key support at 1.6420 extended losses 1.6350, to retrace over 50% of 1.6110/1.6617 upleg. Temporary support was found here, with current bounce looking for regain of 1.6420/50 barriers, above which would improve the tone. Otherwise, lower top and fresh leg lower towards 1.6300/1.6260, Fib 61.8% / trendline support, would be the likely scenario.

Res: 1.6420, 1.6450, 1.6532, 1.6570
Sup: 1.6350, 1.6322, 1.6300, 1.6260




USD/JPY

Attempts to emerge above the recent narrow range after range floor at 76.40 zone contained yesterday’s dips. Clear break above 77.20 is required to signal fresh recovery under way and open 78.00 zone for test. Failure to clear 77.20 risks return to the short-term sideways trade.

Res: 77.22, 77.84, 78.00, 78.45
Sup: 76.83, 76.46, 76.30, 76.00




USD/CHF

Turns the near-term bias positive after yesterday’s reversal from 0.7941 found support at 0.7873, with subsequent bounce extending gains to test 0.7960 zone. Clear break above 0.8000 mark is required to continue short-term recovery off 0.7067, while only loss of yesterday’s low at 0.7873 would weaken near-term structure.

Res: 0.7964, 0.7987, 0.8000, 0.8013
Sup: 0.7900, 0.7873, 0.7858, 0.7838