Short Term Technical Analysis for Majors (08:00 GMT)

[WindsorBrokers]

EUR/USD

The near-term outlook maintains negative tone, with the latest price action attempting through recent consolidation floor at 1.3280/70 zone, as the pair broke below triangle support at 1.3315 and also loses 1.3300 handle. Yesterday’s upside rejection at key resistance zone above 1.3400 renews fears of fresh weakness, with immediate focus at 1.3211, 25 Nov low and key support at 1.3145. Hourly studies are in the negative territory, with 20 day SMA capping the upside for now.

Res: 1.3305, 1.3357, 1.3370, 1.3397
Sup: 1.3234, 1.3211, 1.3200, 1.3145





GBP/USD

Accelerates losses following yesterday’s strong rally that failed to regain break point at 1.5690. Loss of initial supports at 1.5600/1.5580, now threatens near-term bull trendline, drawn off last Friday’s low and Fib 61.8% of 1.5422/1.5655 ascend at 1.5510, break of which and 1.5500 would further weaken near-term structure and expose 1.5470/60, next supports. Reversal above 1.5500/1.5470, however, would keep the short-term bulls in play for possible fresh push higher, with regain of minimum 1.5600 required to confirm.

Res: 1.5580, 1.5600, 1.5627, 1.5655
Sup: 1.5528, 1.5510, 1.5500, 1.5580





USD/JPY

The pair returns back to channel after the recent rally probed levels above 78.00 barrier. Dips were contained at initial support at 77.60/50 zone for now, keeping the near-term positive tone in play. Overnight’s attempt through 78.00 mark, would signal fresh strength ahead, with break above 78.27 to open way towards 78.44 and 79.00. Hourly studies still keep positive tone, with 20 day SMA underpinning. Only loss of 77.60/50 would weaken the near-term structure and turn focus towards 77.00 support.

Res: 78.10, 78.27, 78.44, 79.00
Sup: 77.85, 77.60, 77.50, 77.44





USD/CHF

Returns to strength after two days congestion within 0.9180/0.9240 range that was interrupted by spike lower to 0.9140 zone. Current price action sees attempt through the upper boundary of the range, as the pair broke above near-term bear-trendline off 0.9325 high. Hourly studies are regaining momentum, with clear break above 0.9240/55 barriers and regain of 0.9300 handle, required to signal higher low, ahead of final push through 0.9328, previous high. On the downside, 0.9200/0.9180 zone offers strong support and only break here would signal and extension of corrective pullback from 0.9328, for possible retest of 0.9140 and key near-term supports at 0.9100/0.9080.

Res: 0.9255, 0.9305, 0.9328, 0.9338
Sup: 0.9200, 0.9173, 0.9152, 0.9137