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

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EUR/USD

Further narrows the recent sideways range trade after today’s bounce from 1.4388 stalled under yesterday’s high at 1.4480. Triangle support currently lies at 1.4400, while the upper boundary is at 1.4466, with break of either side to signal near-term direction. Wider picture shows positive tone still dominating, with main trendline resistance off 1.4938 peak, currently at 1.4485. Break here and 1.4500/36 to resume broader uptrend from 1.3836, 12 July low. Only loss of 1.4260/50, 16 Aug low / bull trendline, on a daily chart, would weaken short-term structure.

Res: 1.4456, 1.4473, 1.4500, 1.4516
Sup: 1.4400, 1.4388, 1.4378, 1.4350




GBP/USD

Extends the near-term weakness after losses through key support at 1.6420 extended to 1.6350, where a temporary support was found and subsequent recovery attempt was capped at 1.6400 zone. Fresh dip under 1.6350 has so far tested 1.6330, en-route to 1.6300/1.6267, Fib 61.8% of 1.6110/1.6617 / bull trendline off 1.5779, loss of which would further weaken the short-term structure and signal lower top at 1.6617.

Res: 1.6396, 1.6420, 1.6450, 1.6532
Sup: 1.6330, 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. Current push through 77.20 barrier shows no signals of clear break higher that is required to trigger fresh recovery and open 78.00 zone for test, with failure to sustain gains above 77.20 to risk return to the short-term sideways trade.

Res: 77.26, 77.84, 78.00, 78.45
Sup: 76.83, 76.46, 76.30, 76.00





USD/CHF

Maintains the near-term positive bias positive after good support was found at 0.7873 and subsequent bounce extended gains to test 0.7980 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: 0.7982, 0.8000, 0.8013, 0.8045
Sup: 0.7934, 0.7908, 0.7873, 0.7858