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

[WindsorBrokers]

EUR/USD

The pair regains momentum after yesterday’s brief dip under 1.3685 breakpoint found support at 1.3650 zone, just ahead of Fib 38.2% of 1.3145/1.3913 ascend at 1.3620. Fresh strength through 1.3790, bear trendline connecting 1.3913/1.3816 highs and clearance of 1.3816, yesterday’s high / Fib 61.8% of 1.3913/1.3650, is expected to turn focus towards 1.3900/13 barriers. However, resumption of the broader uptrend form 1.3145 requires clearance of 1.3935/40, 15 Sep high / daily 55 day MA. Initial supports lie at 1.3724/1.3685, while only below 1.3650 to weaken the near-term structure.

Res: 1.3900, 1.3913, 1.3935, 1.3940
Sup: 1.3800, 1.3760, 1.3720, 1.3700





GBP/USD

Pullback from 1.5851, 14 Oct high, was contained at Fib 38.2% of 1.5271/1.5851 upleg at 1.5630. Subsequent bounce through 1.5700/20, initial resistances and 1.5760/72, 20 day MA / yesterday’s intraday high, is looking for stretch above 1.5800 barrier. Hourly studies are improving, however, daily outlook still maintains negative tone and unless 1.5851/1.5900 zone is cleared, near-term gains are likely to be capped under 1.5851. Initial support lies at 1.5700, while loss of strong support at 1.5630 would be bearish.

Res: 1.5800, 1.5821, 1.5851, 1.5900
Sup: 1.5700, 1.5665, 1.5630, 1.5600




USD/JPY

Remains within 76.60/76.90 range after repeated upside failures to clear main bear-trendline. Near-term studies are in the negative territory and while 77.00 barriers caps, the downside remains vulnerable. Below the range floor to expose 76.30, initial support, ahead of key levels at 76.10/75.93. On the upside, above 77.00, trendline resistance at 77.30 comes next. However, break of either extreme point at 76.00/77.50 would signal the fresh direction.

Res: 76.90, 77.00, 77.30, 77.50
Sup: 76.65, 76.50, 76.30, 76.10





USD/CHF

Yesterday’s brief break above 0.9038 barrier was short-lived, with subsequent pullback on overbought hourly conditions, returning the price to 0.8947, just ahead of yesterday’s low, where a temporary support was found. 0.9000 level now offers initial resistance to recovery attempt from 0.8950, with break above 0.9046, yesterday’s high’s required to resume gains. Broader picture’s bullish structure, however remains intact, while 0.8880, 17 Oct low / main bull trendline holds.

Res: 0.9000, 0.9046, 0.9051, 0.9100
Sup: 0.8945, 0.8920, 0.8900, 0.8880