Short Term Technical Analysis for Majors (09:00 GMT)

[WindsorBrokers]

EUR/USD

The near-term price action shows the pair in corrective pullback after extending two-week uptrend. Regain of significant barriers at 1.3145 and 1.3200, where daily Ichimoku cloud was briefly penetrated, sees scope for further extension higher. The pair so far reached 1.3232, exactly 38.2% retracement of 1.4246/1.2622 descend, looking for test of 1.3300, possibly 1.3429/58, Fib 50% / 08 Dec high, on a break. Dips have so far found footstep at 1.3135, ahead of figure support at 1.3100 and 1.3080, 27 Jan higher platform / Fib 50% of 1.2930/1.3232 ascend that should keep the downside protected for now.

Res: 1.3196, 1.3232, 1.3250, 1.3300
Sup: 1.3100, 1.3080, 1.3061, 1.3045





GBP/USD

Reverses lower after renewed attempt above 1.5700 barrier failed to sustain gains. Pullback of marginally fresh high at 1.5739 vs previous one at 1.5733, dipped below 1.5700 handle, so far holding above initial supports at 1.5660/40, with next array of support standing at 1.5625/00, where also main bull trendline lies. Near-term studies are losing momentum and risk break below 1.5600 that may signal short-term bulls on hold, while reversal above 1.5600 would keep 1.5770, critical resistance, in focus.

Res: 1.5700, 1.5733, 1.5770, 1.5800
Sup: 1.5672, 1.5660, 1.5640, 1.5625





USD/JPY

Maintains negative near-term sentiment after upside rejection at key barrier at 78.20/30 zone, with subsequent strong reversal losing important support at 77.00. Dip below the later now risks test of very important level at 76.50, med-term range floor, below which to open way for test of 76.00 zone initially and possibly posting fresh record lows. Corrective actions are seen limited at 77.00/30 zone for now.

Res: 76.85, 77.00, 77.28, 77.60
Sup: 76.65, 76.50, 76.10, 76.00





USD/CHF

Continues to head south, extending short-term bears from 0.9600 zone, where gains were capped, to post fresh low at 0.9113 last Friday, just ahead of our next downside target at 0.9100 / 0.9075, figure support / Fib 50% of 0.8566/0.9695 ascend. Corrective bounce on oversold near-term conditions, faces initial barrier at 0.9200, also 20 day SMA, while gains are likely to stay capped at 0.9230 zone, 24 Jan low / 27 Jan high, before fresh push lower, as studies on larger timeframes are entering negative territory. Loss of 0.9100 support to open 0.9075/64, Fibonacci level / 30 Nov low and possibly signal broader weakness towards 0.9000 and 0.8955, Fib 61.8% on a break. Only regain of 0.9300/38 barriers would provide relief.

Res: 0.9175, 0.9200, 0.9215, 0.9230
Sup: 0.9134, 0.9113, 0.9100, 0.9075