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

[WindsorBrokers]

EUR/USD
Fresh weakness off 1.3561, 23 Mar lower top, broke through 1.3433 range bottom, to commence next leg lower, targeting 1.3245, then 1.3190, en-route to 1.3090, short-term objective. Upside, 1.3433/62 area should now cap corrective rallies.

Res: 1.3376, 1.3444, 1.3462, 1.3486
Sup: 1.3281, 1.3245, 1.3190, 1.3165




GBP/USD

Positive near-term structure has triggered a minor double bottom reversal from 1.4782, targeting the 1.4950 region, where a lower high is seen forming, ahead of fresh attempt at 1.4780, key low. Regain of 1.5018, yesterday’s intraday high, however, would delay, for stronger recovery towards 1.5085/1.5111.

Res: 1.5003, 1.5018, 1.5051, 1.5086
Sup: 1.4855, 1.4780, 1.4765, 1.4755





USD/JPY

Rallied higher yesterday, breaking through 90.65/79 key resistance area, to complete a continuation pattern that signals an extension off 88.13, yearly low, posted on 04 Mar. Clearance of 92.13 has so far reached 92.59, en-route to 93.75, yearly high posted 08 Jan. 91.75/50, today’s low/200 days MA, underpin the advance for now.

Res: 92.75, 93.15, 93.39, 93.75
Sup: 91.75, 91.50, 91.38, 91.08




USD/CHF

Triangular consolidation from 1.0505, 17 Mar low and 50% retracement of 1.0130/1.0898 upleg, broke above key resistance, to extend gains through 1.0729 barrier to reach 1.0740 so far. Near-term structure remains positive and holding above 1.0673/60 keeps scope for recovery towards 1.0805/10. Loss of 1.0610, however, would delay and open 1.0560/45 zone instead.

Res: 1.0740, 1.0793, 1.0810, 1.0898
Sup: 1.0673, 1.0660, 1.0637, 1.0609