Short Term Technical Analysis for Majors (13:50 GMT)

[WindsorBrokers]

EUR/USD

Yesterday’s pullback from 1.2297 has found ground just above 1.2162 support, to continue recovery phase off 1.1875. The latest attempt through 1.2297 signals fresh upside extension, targeting 1.2325, 03 June high and then 1.2366, 61.8% retracement of 1.2671/1.1875 decline. 1.2168/62 underpins the rally, while only loss of 1.2045 weakens the outlook.

Res: 1.2325, 1.2355, 1.2380, 1.2430
Sup: 1.2162, 1.2149, 1.2110, 1.2074




GBP/USD

Ascend from 1.4230, 20 May low, is still seen corrective with yesterday’s break above 1.4769 signaling the scope for a test of 1.4874, 50% retracement of 1.5518/1.4230 downleg, with renewed attempt at 1.4807 now under way. An eventual lower high is expected for a return to 1.4230, while 1.5026/50 caps.

Res: 1.4887, 1.4820, 1.4860, 1.4915
Sup: 1.4680, 1.4657, 1.4607, 1.4501




USD/JPY

Break of last week’s 4 day wedge extended gains to 92.10, ahead of 92.33/59, key trendline resistances. Immediate reversal cleared a series of supports supports, approaching now key 90.95/83 levels and triangle support at 90.76, break of which will turn near-term tone negative.

Res: 91.68, 92.10, 92.20, 92.33
Sup: 90.95, 90.83, 90.76, 90.53




USD/CHF

Continues to trend lower off 1.1730 peak, with fresh low of 1.1348 reached yesterday. Corrective attempt stalled at 1.1478, with sharp decline followed. Retest of 1.1348 support is under way, and break here will open way towards key 1.1266 level. Only reversal above 1.1478 would ease bear pressure.

Res: 1.1417, 1.1478, 1.1502, 1.1545
Sup: 1.1348, 1.1325, 1.1300, 1.1266