Short Term Technical Analysis for Majors (14:00 GMT)

[WindsorBrokers]

EUR/USD

Today’s break below series of supports at 1.2628/02 and 1.2569 is now attempting at 1.2515. Further weakness will target key longer-term supports at 1.2455 and 1.2331. Corrective ticks seen capped by 1.2681/1.2760.

Res: 1.2681, 1.2738, 1.2760, 1.2807
Sup: 1.2515, 1.2455, 1.2422, 1.2388





GBP/USD

Bounce off 1.4475 left a double top at 1.5052/46, 61.8% of the 1.5389/1.4475 decline, ahead of fresh weakness. Today’s break below key higher low of 1.4719 turn bears towards 1.4475, break of which would attract 1.4396, 19 Apr 2009 low. Upside, regain of 1.4916 is needed to delay immediate bears.

Res: 1.4815, 1.4916, 1.5005, 1.5052
Sup: 1.4683, 1.4643, 1.4514, 1.4475




USD/JPY

Extended recovery off 87.96, yearly low, posted on06 May, to reach 93.64, ahead of pullback. Upside rejection now risks a relapse towards 92.18, possibly 91.64. To avoid immediate downside risk, regain of 93.64 is required.


Res: 93.65, 93.98, 94.32, 94.98
Sup: 92.18, 91.84, 91.64, 90.83




USD/CHF

Remains positive off 1.0923 higher low, with market currently forming a bull flag. Earlier corrective channel break also signals strength. Break above 1.1137 now looks for test of 1.1244, ahead of fresh strength towards near-term target at 1.1484. Downside, 1.1056/34 supports.

Res: 1.1180, 1.1216, 1.1244, 1.1335
Sup: 1.1075, 1.1056, 1.1034, 1.1014