Short Term Technical Analysis for Majors (14:30 GMT)

[WindsorBrokers]

EUR/USD

Remains under pressure, as recovery attempt from today’s low at 1.3332, was capped at 1.3426, initial resistance zone. Fresh weakness is testing previous support at 1.3360, with 1.3332/29, day’s low / main short-term bull trendline in focus, as the hourly structure is losing momentum. The near-term price action is limited within the asymmetric triangle, with the upper boundary at 1.3430, limiting the upside for now.

Res: 1.3384, 1.3400, 1.3420, 1.3487
Sup: 1.3360, 1.3330, 1.3300, 1.3273





GBP/USD

The near-term bias remains skewed to the downside while broken bull trendline off 1.5422 low caps corrective attempts. Hourly studies are below their midlines, suggesting further extension of the short-term reversal from 1.5777, 30 Nov high. Initial support zone at 1.5600/1.5575, holds for now, however, weakening 4H conditions see scope for break lower to expose next array of supports at 1.5557, Fibonacci 61.8% and 1.5525/00. Today’s high at 1.5663 and bear trendline at 1.5687, keep the upside capped for now.

Res: 1.5641, 1.5663, 1.5700, 1.5714
Sup: 1.5586, 1.5576, 1.5558, 1.5525





USD/JPY

Moves in a narrow range after dip to 77.62, day’s low, tested main bull trendline of 76.56, with mild recovery so far unable to regain momentum. While below 78.00 barrier, weak tone is expected to persist, with potential break below trendline support and Fibonacci 50% level at 77.60, to trigger further weakness and expose 77.28, possibly 77.00 on a break. Only clear break above 78.00 would improve near-term structure and re-focus recent highs at 78.27/44.

Res: 77.85, 78.00, 78.14, 78.27
Sup: 77.62, 77.50, 77.28, 77.00





USD/CHF

Today’s corrective dip off day’s fresh high at 0.9294, was contained by hourly 20 day SMA at levels just above our initial support at 0.9200. Fresh gains are en-route to 0.9300 barrier, above which to look for retest of 0.9313/28 peaks and resume broader uptrend. Near-term studies remain supportive and only loss of strong support at 0.9200, also bull trendline off 0.9069 double bottom, would weaken near-term structure.

Res: 0.9285, 0.9294, 0.9300, 0.9313
Sup: 0.9242, 0.9215, 0.9200, 0.9164