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

[WindsorBrokers]

EUR/USD

The pair tumbled towards key short-term support following strong gains through 1.3750 barrier, to hit levels close to 1.3800, where the rally stalled. Loss of initial support at 1.3585 and further extension below 1.3555, risks lower top at 1.3796 and possible attack at key 1.3500 level. With 20 day MA above the price and near-term studies in red territory, further downside extension would be the likely scenario. Below 1.3500 to confirm a continuation of the broader downtrend and expose 1.3427 next. Immediate barriers lie at 1.3585/1.3630 zone, while regain of 1.3700 handle is required to sideline immediate bears.

Res: 1.3585, 1.3600, 1.3630, 1.3650
Sup: 1.3526, 1.3500, 1.3450, 1.3427




GBP/USD

Yesterday’s renewed attempt higher was once more capped under bear-trendline from 1.6453, with subsequent steep fall through our initial target at 1.5500 zone, Fib 50% of 1.4230/1.6745 bull phase, extending losses to 1.5447. Near and short term studies remain firmly bearish, however, overextended conditions suggest corrective bounce preceding fresh fall. Initial resistance zone at 1.5580/1.5630 is expected to limit the upside. Only break above 1.5700 would delay bears in favor of stronger correction

Res: 1.5500, 1.5580, 1.5600, 1.5632
Sup: 1.5447, 1.5404, 1.5343, 1.5300




USD/JPY

Yesterday’s bounce from 76.10 low has regained traction to extend gains and test key short-term barrier at 77.00. Immediate pullback may signal repeated failure to clear this level, however, holding above 20 day MA, currently at 76.55, would keep hopes of renewed attempt higher alive. Otherwise, trading within one month range and possible attack at the lower boundaries remains in play.

Res: 76.96, 77.27, 77.68, 77.85
Sup: 76.50, 76.39, 76.23, 76.10





USD/CHF

Maintains gains from 0.8646, 15 Sep low, as fresh bulls cleared 200 day MA, main trendline resistance and previous high at 0.8926, to extend gains above 0.9000 mark. This would signal fresh bull phase and expose levels at 0.9200/0.9300 in a short-term. Previous barriers are now reverted to supports.

Res: 0.9036, 0.9060, 0.9100, 0.9200
Sup: 0.9000, 0.8984, 0.8926, 0.8900