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

[WindsorBrokers]

EUR/USD

The near-term strength off 1.3145 low is taking a break after strong barrier at 1.3700 zone capped gains. However, shallow dips that find support above 1.3525 initial support, would suggest further consolidation while 1.3700 intact. Near-term studies remain positive, while yesterday’s low at 1.3564 and 20 day MA, currently at 1.3555 hold, with clearance of 1.3700 required to resume recovery and open 1.3800 next. Only loss of 1.3525 and Fibonacci level at 1.3485 would put near-term bulls on hold.

Res: 1.3678, 1.3697, 1.3750, 1.3800
Sup: 1.3600, 1.3582, 1.3564, 1.3523




GBP/USD

The pair has so far retraced near 38.2% of the recent rally from 1.5271 low, after gains were capped on approach to key short-term barrier at 1.5714. Dips so far found support at 1.5541, just ahead of strong 1.5525/00 support zone, also Fib 38.2%. Fresh attempt higher is required to regain minimum 1.5600/20 to re-focus 1.5700 zone, otherwise, further easing would be likely, with of loss of 1.5500 handle to sour near-term tone.

Res: 1.5600, 1.5620, 1.5662, 1.5687
Sup: 1.5541, 1.5525, 1.5500, 1.5480




USD/JPY

Continues to trade within range narrowed to 25 pips, with flat near-term studies suggesting further directionless trading. Extreme points at 77.00 at the upside and 76.00 at the downside remain triggers for fresh direction of the pair.

Res: 76.75, 76.90, 77.00, 77.25
Sup: 76.60, 76.50, 76.41, 76.32





USD/CHF

Near-term price action sees corrective attempt after losses through 0.9140/00 found support at 0.9100. Upside remains capped at 0.9120, yesterday’s high and just below 0.9130, 20 day MA on 4-hour chart and previous support at 0.9140. Break here to signal stronger recovery and re-focus 0.9200, however, weakening near-term studies see risk of re-visiting 0.9000 level, where daily 20 day MA offers good support for now.

Res: 0.9109, 0.9120, 0.9140, 0.9200
Sup: 0.9051, 0.9023, 0.9000, 0.8920