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

[WindsorBrokers]

EUR/USD

Today’s rally from 1.3520 higher low was capped just under 1.3689, yesterday’s one week high, ahead of pullback to 1.3600 zone, also broken bear trendline off 1.3935, to maintain near-term positive structure. Fresh strength is heading towards 1.3700 resistance zone, break of which to resume correction from 1.3361 and expose 1.3800 barrier for test. Near-term studies remain supportive. Initial supports lie at 1.3600, today’s intraday low and 1.3580, 20 day MA, with key levels at 1.3555, bull trendline and 1.3520, today’s low.

Res: 1.3650, 1.3677, 1.3689, 1.3700
Sup: 1.3600, 1.3540, 1.3520, 1.3500





GBP/USD

Upside remains capped at 1.5700 resistance, as today’s renewed attempt higher failed to sustain gains above the latter. Subsequent pullback is now testing initial support at 1.5620, with break here to risk further easing towards key near-term support at 1.5542, below Fib 38.2% of 1.5326/1.5705 upleg, below which would confirm double top and open way for deeper reversal. On the upside, clearance of 1.5700 opens 1.5720, ahead of potential test of key short-term barrier at 1.5800.

Res: 1.5704, 1.5755, 1.5780, 1.5800
Sup: 1.5616, 1.5600, 1.5542, 1.5525




USD/JPY

Fresh strength emerged from today’s narrow 76.30/60 range, to dent our initial one-week resistance at 77.00. Firm break here is required to signal break above the near-term range, however, extension above 78.00 mark to confirm fresh trend of the pair after a month-and a half directionless trading. Repeated failure to clear 77.00 barrier brings the recent range back in play, with initial support at 77.62, ahead of 77.41/32.

Res: 77.27, 77.68, 77.85, 78.00
Sup: 76.62, 76.41, 76.32, 76.25





USD/CHF

The near-term price action turns focus lower after reversal from 0.9180, through 0.9000 levels, was initially contained at previous low at 0.8926. Brief break above 0.9000 was short-lived, with return to 0.8920 zone increasing risk of further reversal and possible test of 200 day MA, currently at 0.8800, before bulls re-assert, as wider picture’s outlook remains firmly bullish. Initial barriers lie at 0.9000/20.

Res: 0.8976, 0.9000, 0.9020, 0.9056
Sup: 0.8937, 0.8916, 0.8900, 0.8884