Short Term Technical Analysis for Majors (09:30 GMT)

[WindsorBrokers]

EUR/USD

Recovery off 1.1875, 07 Jun annual low, breached 1.2352 resistance yesterday, to open 1.2454/1.2485, 28 May high/76.4% retracement of 1.2671/1.1875 descend. 1.2345/39 should now underpin advance, while key support now stands at 1.2240, yesterday’s low, and break below here to signal bear resumption.

Res: 1.2415, 1.2454, 1.2485, 1.2525
Sup: 1.2339, 1.2316, 1.2240, 1.2214




GBP/USD

Strong recovery emerged after market’s upside failure at 1.4854 and dip to 1.4644 yesterday. Bulls cleared 1.4854/74, key resistance area, to extend gains to 1.4885 thus far. Scope is seen for potential test of 1.4917, 13 May high next, though, bearish medium-term outlook suggests lower top, ached of fresh weakness.

Res: 1.4885, 1.4917, 1.5005, 1.5054
Sup: 1.4771, 1.4747, 1.4718, 1.4644




USD/JPY

Broke lower from a 9 day triangle yesterday, dropping to 90.50, before finding a short-term foothold. Hourly studies are negative, with 91.07 expected to cap, for fresh push lower through 90.50, to target 89.81, 26 May low. Upside, regain of 91.09 opens 91.49 instead.

Res: 91.07, 91.49, 91.81, 91.95
Sup: 90.50, 90.10, 89.80, 89.21




USD/CHF

Continues to trend lower off 1.1730 yearly low, retracing the earlier strength. Congestive support around 1.1083/55 now being pressured and break below here risks 1.1036/1.0924. 1.1155/1.1249 should now cap the upside.

Res: 1.1154, 1.1249, 1.1290, 1.1340
Sup: 1.1083, 1.1055, 1.1036, 1.1007