Short Term Technical Analysis for Majors (07:45 GMT)

[WindsorBrokers]

EUR/USD

Near-term outlook sees bears fully in play, as the pair loses strong support at 1.3655 yesterday to briefly break below 1.3600 handle. Minor consolidation above 1.3600 was followed by fresh weakness through yesterday’s low at 1.3590. Immediate focus lies at 1.3550/00 and key low at 1.3483. 4-hour MACD is in the negative field, with break below the signal line, maintaining negative tone. On the upside, initial resistances lie at 1.3620/55, 20 day SMA / yesterday’s consolidation ceiling / previous lows, ahead of 1.3680/1.3700, that is expected to limit the upside near-term. Key short-term barriers lie at 1.3800/50 and only break here to provide near-term relief.

Res: 1.3655, 1.3680, 1.3700, 1.3735
Sup: 1.3574, 1.3549, 1.3500, 1.3483





GBP/USD

Sharp fall from yesterday’s highs just under 1.6100 barrier, where strong gains from last Friday stalled, pressures key short-term support at 1.5870, recent range floor. Break here would signal fresh bear-phase and confirm short-term top at 1.6164, with 1.5850/25, mid-October highs / Fib 38.2% of 1.5274/1.6164, to come next, ahead of possible extension towards 1.5700 zone. Corrective bounce on oversold hourly conditions faces resistance at 1.5950, 4-hour 20 day MA, while only clearance of psychological 1.6000 level would improve the near-term structure.

Res: 1.5950, 1.5984, 1.6000, 1.6050
Sup: 1.5870, 1.5850, 1.5825, 1.5800




USD/JPY

Is losing traction after recovery attempt from yesterday’s low at 76.80 spiked to 77.50 overnight, but gains were short-lived, as the price falls again under 77.00 handle. Near-term studies remain negative, with 20 day SMA at 77.28, maintaining bear-tone. Loss of 76.80 to open 76.50/00 next, while only break above 77.50 would bring some positive tone and re-focus key short-term barrier at 78.00.

Res: 77.10, 77.50, 77.72, 77.87
Sup: 76.93, 76.80, 76.67, 76.50





USD/CHF

Continues to head higher after regain of 0.9080/0.9100 barriers, with 0.9147, 10 Nov previous high coming in focus. Break here is required to resume short-term bull phase from 0.8566 and open key barrier at 0.9313, 06 Oct high, for test. Initial support lies at 0.9080, previous highs / 20 day SMA, while 0.9050 zone should contain corrective dips, to keep bulls intact. Key near-term supports lie at 0.9000 and 0.8950.

Res: 0.9138, 0.9147, 0.9200, 0.9250
Sup: 0.9100, 0.9080, 0.9025, 0.9000