Short Term Technical Analysis for Majors (13:30 GMT)

[WindsorBrokers]

EUR/USD
Failure to sustain gains above 1.3570 has triggered a reversal off 1.3591, last Friday’s fresh high. Immediate support stands at 1.3459, 01/today’s lows. Potential break here would delay near-term bulls in favor of further weakness towards 1.3383. Upside clearance of 1.3591/1.3626 is required to resume bulls and expose key 1.3816, 17 Mar high.

Res: 1.3537, 1.3568, 1.3570, 1.3591
Sup: 1.3459, 1.3433, 1.3383, 1.3344




GBP/USD

Recovery off 1.4797, 25 Mar low, stalled at 1.5298, followed by correction to 1.5180. Fresh strength is now underway, with break through 1.5298/1.5315, been required for resumption of near-term uptrend, to challenge key 17 Mar, 1.5380 peak.

Res: 1.5298, 1.5315, 1.5327, 1.5380
Sup: 1.5180, 1.5117, 1.5088, 1.5042




USD/JPY

Extends gains above 93.75, 08 Jan pivot, to further retrace the pullback from 101.43, 06 Apr 2009 high. Bulls now eye 95.02, 61.8% retracement, ahead of the 95.30 region. Dips are expected to find support over 93.55 to sustain the immediate bullish tone.

Res: 94.77, 95.02, 95.30, 95.50
Sup: 93.05, 92.75, 92.45, 92.11



USD/CHF

Broke below 1.0505, key near-term low, to spike lower to 1.0433 on 01 Apr. Fresh strength emerged from there, now sees scope for renewal of bulls, with clearance of the key 1.0682/88 resistances, needed to expose 1.0749, 25 Mar pivot high. Loss of 1.0553/35, however, would delay for retest of 1.0433.

Res: 1.0643, 1.0682, 1.0688, 1.0705
Sup: 1.0585, 1.0553, 1.0535, 1.0487