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

[WindsorBrokers]

EUR/USD

Keeps near-term positive tone off1.3361, fresh 8-month low, posted yesterday. Fresh gains from 1.3478, overnight’s higher low, are currently testing 1.3565, main near-term barrier, above which opens 1.3579/85, Fib 50% of 1.3796/1.3361 downleg / 19 Sep low and psychological 1.3600. Near-term studies above their midlines remain supportive. On the downside, 20 day MA at 1.3500 underpins, while initial support lies at 1.3478.

Res: 1.3568, 1.3579, 1.3585, 1.3600
Sup: 1.3512, 1.3478, 1.3425, 1.3414




GBP/USD

Extends recovery from 1.5326, 22 Sep low, breaking through 1.5585, Fib 61.8% of 1.5746/1.5326 descend, to test levels just under key barrier at 1.5600. Sustained break here is required to spark stronger recovery, with immediate targets at 1.5630/90 coming in sight. Initial support lies at 1.5530, ahead of key 1.5500 support zone, that is expected to contain dips and keep near-term bulls intact.

Res: 1.5600, 1.5630, 1.5655, 1.5690
Sup: 1.5530, 1.5500, 1.5431, 1.5422




USD/JPY

The pair continues to trade in a narrow range directionless mode, however the downside pressure exists as key 77.00 barrier remains intact. On the downside, 76.10, previous low, offers initial support, ahead key levels at 76.00/75.93, below which would be very bearish. Hourly studies are flat, hovering near their midlines.

Res: 76.54, 76.75, 76.96, 77.27
Sup: 76.25, 76.10, 76.00, 75.93





USD/CHF

Remains in a corrective/consolidative mode after hitting fresh high at 0.9180. After a fresh upside attempt failed at 0.9141 yesterday, immediate tone weakens, with key 0.9000 support coming under pressure. Break here would signal a near-term top, ahead of stronger correction, with 0.8926/00 coming next. Holding above 0.9000, however, keeps positive outlook for fresh attack at 0.9141/80 barriers.

Res: 0.9082, 0.9100, 0.9141, 0.9180
Sup: 0.9004, 0.8994, 0.8965, 0.8926