Short Term Technical Analysis for Majors (06:45 GMT)

[WindsorBrokers]

EUR/USD

Holds steady above 1.3850, yesterday’s low and near Fib 38.2% of 1.3655/1.3959 upleg, however, upside stays capped at 1.3650 zone for now. Lack of direction is due to markets awaiting decisions of the EU summit today, as the pair was mainly driven by news in the past few days. Near-term studies are still aligned to the upside, with break above 1.3659, yesterday’s high, to expose Fibonacci level at 1.4000 next. On the downside, initial support lies at 1.3900 zone, ahead of 1.3850/20.

Res: 1.3935, 1.3959, 1.4000, 1.4056
Sup: 1.3888, 1.3876, 1.3850, 1.3820




GBP/USD

Maintains positive short-term tone, after brief consolidation at 1.6000 zone, with today’s fresh push higher, posting fresh high at 1.6039. Daily studies are gaining momentum for further extension higher and test of Fibonacci 61.8% level at 1.6100, with attack at 200 day MA at 1.6136 in sight. Overextended 4-hour studies suggest corrective pullback. First support lies at 1.5955, ahead of strong support zone at 1.5900/1.5850, expected to contain dips and keep short-term bulls in play.

Res: 1.6039, 1.6082, 1.6100, 1.6110
Sup: 1.5989, 1.5955, 1.5900, 1.5850




USD/JPY

Renewed weakness, after the near-term corrective attempt was capped at 76.50, extended losses through 75.80, to post marginally fresh record low at 75.73. Short-term studies maintain firm bearish tone, with daily structure entering negative territory. Near-term focus is at 75.00, initial target, and unless Bank of Japan executes already announced intervention, the downside remains favored, with initial barriers at 76.00/50.

Res: 76.00, 76.29, 76.47, 76.55
Sup: 75.80, 75.73, 75.50, 75.00





USD/CHF

Short-term bears remain dominative, as the pair heads towards 0.8750, 200 day MA, below which to further weaken short-term structure for extension towards 0.8646, 15 |Sep low. Initial resistance lies at 0.8880, while bear-trendline off 0.9313 high, currently at 0.8980, maintains the downtrend.

Res: 0.8800, 0.8845, 0.8880, 0.8900
Sup: 0.8770, 0.8750, 0.8700, 0.8646