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

[WindsorBrokers]

EUR/USD

Short-term sentiment remains positive, with yesterday’s surge through 1.3500/23, trendline resistance and yesterday’s intraday high, extending gains to test key barrier at 1.3690, 28 Sep high / Fib 38.2% of 1.4548/1.3145 downleg. Current corrective easing has so far found support above 1.3600 zone, also contained by hourly 20 day MA. Positive near-term studies continue to support, with clear break above 1.3700 barrier to open way for further recovery and expose next target at 1.3800 zone, 21 sep high. On the downside, previous resistance at 1.3523/00 now offers initial support, while only loss of 1.3360 to weaken the near-term structure.

Res: 1.3652, 1.3697, 1.3750, 1.3800
Sup: 1.3600, 1.3555, 1.3523, 1.3500




GBP/USD

Extended corrective rally off 1.5271 low, after clearing 1.5644, last Friday’s high, to approach key near-term resistance at 1.5690. Subsequent pullback is seen corrective while above 1.5525/00, strong support zone, with clearance of key near-term barrier at 1.5700/14 to open 1.5785, Fib 38.2% of 1.6617/1.5721 descend and signal formation of double bottom.

Res: 1.5687, 1.5700, 1.5714, 1.5780
Sup: 1.5580, 1.5550, 1.5525, 1.5500




USD/JPY

Remains in a recent 50-pips range, as yesterday’s attempt higher stalled at 77.05, with subsequent pullback into 77.55 zone, where dips were contained for now. Hourly and 4-hour studies continue to hover around their midlines, as break below bull trendline off 76.10, suggesting possible extension lower and test of broader range floor at 76.10/00, with break below 76.50 required to confirm. Initial barriers lie at 76.85/77.00 zone and only clear break above the latter to improve near-term outlook.

Res: 76.90, 77.00, 77.09, 77.27
Sup: 76.57, 76.50, 76.41, 76.32





USD/CHF

Extends corrective pullback after upside rejection at 0.9300 barrier, and 4-hour MACD bearish divergence signaled correction. Loss of 0.9200/0.9140 supports accelerated losses to test 0.9000 so far, ahead of key level at 0.8920, below which to allow stronger correction reversal of the recent 0.7067/0.9310 strong uptrend. On the upside, 0.9140 now acts as resistance, while 0.9280/0.9310 zone caps for now.

Res: 0.9075, 0.9100, 0.9140, 0.9200
Sup: 0.9000, 0.8920, 0.8900, 0.8842