Short Term Technical Analysis for Majors (14:45 GMT)

[WindsorBrokers]

EUR/USD

Break below Daily Ichimoku cloud at 1.3566 and 1.3550, 10 Nov intraday low, keeps pressure to the downside, with 1.3510 low seen so far, just ahead psychological support at 1.3500. Corrective/ consolidative phase on oversold hourly conditions may precede final push towards key short-term support at 1.3483, with 1.3590, 20 day SMA/ yesterday’s low, offering good resistance for now. Only regain of 1.3650, overnight’s consolidation ceiling, would ease immediate bear pressure. Loss of 1.3483 to trigger fresh leg lower and expose 1.3400 zone, Fib 76.4% of 1.3145/1.4246 ascend.

Res: 1.3590, 1.3600, 1.3655, 1.3680
Sup: 1.3510, 1.3500, 1.3483, 1.3450





GBP/USD

Break below short-term range floor at 1.5867, and 1.5850 support, adds additional pressure on the pair. Fresh losses so far tested Fib 38.2% of 1.5271/1.6164 upleg and daily 55 day SMA at 1.5825. Clear break below 1.5825 to open way for fresh extension towards 1.5780, mid July’s low, next, ahead of Fib 50% at 1.5720. Previous strong support zone at 1.5870/90, now reverts to resistance and along with 20 day SMA, expected to cap corrective rallies.

Res: 1.5870, 1.5890, 1.5900, 1.5950
Sup: 1.5825, 1.5800, 1.5780, 1.5720





USD/JPY

Near-term price action sees the pair stabilizing around 77.00 level, following overnight’s spike to 77.50 and subsequent reversal back to 77.00 zone. Near-term studies continue to point lower, with 76.80/50 in focus, while 20 day SMA at 77.25, maintains bears, ahead of key near-term barrier at 77.50.

Res: 77.10, 77.50, 77.72, 77.87
Sup: 76.80, 76.67, 76.50, 76.30





USD/CHF

Today’s fresh rally through 0.9147, previous high, posted 10 Nov, extended gains to 0.9175 so far, followed by corrective pullback, as near-term studies entered overbought zone. Initial support at 0.9147 was dented, with strong levels at 0.9100/0.9080 expected to contain further dips and maintain immediate bearish structure. Clearance of 0.9175 to open 0.9200/50 next, while short-term focus remains at 0.9313, 06 Oct high.

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