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

[WindsorBrokers]

EUR/USD

Corrected lower following yesterday’s upside rejection at 1.2353, to find foothold at 1.2240, ahead of fresh strength. Today’s clearance of 1.2353/66 resistance zone, now eyes 1.2454, 28 May high, with 1.2395 seen so far. Initial support now stands at 1.2240.

Res: 1.2395, 1.2454, 1.2525, 1.2560
Sup: 1.2240, 1.2214, 1.2162, 1.2110





GBP/USD

Dipped to1.4644 today, following reversal off 1.4854, yesterday’s high. Strong rally emerged from 1.4644, bringing near-term bulls back to play, with clearance of 1.4854 needed to resume gains towards 1.4874/1.4917. Downside, 1.4644 now underpins the advance, while only loss of 1.4501 weakens the structure.

Res: 1.4835, 1.4854, 1.4874, 1.4917
Sup: 1.4644, 1.4607, 1.4571, 1.4501




USD/JPY

A large multi-week triangle has developed over the last six weeks amid tightening consolidation, warning of an imminent breakout. Break below 90.83 would confirm a downside break that opens 90.53/89.80 first. Regain of 91.49 is needed to stabilize.

Res: 91.49, 91.81, 91.95, 92.10
Sup: 90.91, 90.83, 90.53, 90.10




USD/CHF

Continues to trend lower off 1.1730 yearly low, with today’s break out of the channel and loss of key 1.1266/35 support, extending losses towards 1.1083, 50% retracement of 1.0433/1.1730 ascend. Upside, 1.1340/48 caps.

Res: 1.1249, 1.1290, 1.1340, 1.1348
Sup: 1.1111, 1.1083, 1.1060, 1.1035