Short Term Technical Analysis for Majors (08:15 GMT)

[WindsorBrokers]

EUR/USD

Near-term structure remains positive, with bull flag completed on Monday projecting further strength. Clearance of yesterday’s high at 1.3044 will extend gains toward 1.3125, 38.2% retracement of 1.5144/1.1875 decline. Immediate support now stands at 1.2965/51 zone.

Res: 1.3044, 1.3073, 1.3093, 1.3125
Sup: 1.2965, 1.2951, 1.2925, 1.2888




GBP/USD

Continues to trend higher, with lift above 1.5576, previous high, now approaching 1.5635, 50% retracement of 1.7041/1.4230 decline. Break of which will expose 1.5688, 18 Feb high, next. Key support at 1.5440 is expected to hold dips to keep immediate bulls in play.

Res: 1.5635, 1.5665, 1.5688, 1.5708
Sup: 1.5440, 1.5375, 1.5345, 1.5335




USD/JPY

Correction off 87.96, yesterday’s high, has found support at 87.64, ahead of fresh strength. The latest break above 88.03, 61.8% retracement of 89.14/86.25 downleg, as well as break above 5-wwek falling trendline, now opens way towards 88.50/80 next. Only reversal under 87.25 would delay.

Res: 87.38, 87.71, 87.84, 88.00
Sup: 87.64, 87.42, 87.25, 86.80




USD/CHF

Fresh strength off 1.0458 higher low, has broken above the recent 1.0393/1.0565 range, extending gains above 1.0600, to reach 1.0638 so far. Break here is required to resume bulls and focus 1.0675/95 area next. 1.0458 remains key support.

Res: 1.0645, 1.0675, 1.0695, 1.0750
Sup: 1.0562, 1.0538, 1.0500, 1.0480