Short Term Technical Analysis for Majors (10:55 GMT)

[WindsorBrokers]

EUR/USD
Channeling structure continues with scope set towards 1.3365/1.3417. Near-term 1.3523 (20 Apr, nr 200-day MA) hinted. Below 1.3119 will break rising channel support, opening up a corrective phase.

Res: 1.3340, 1.3365, 1.3390, 1.3425
Sup: 1.3240, 1.3160, 1.3120, 1.3055



GBP/USD
Short-term structure has broken over the 1.5968 level (61.8% of 1.7044/1.4228 fall) and now probes the 1.6000 region where a breakout would favor 1.6070 next. The current region may act as a reasonable entry for med-term shorts.

Res: 1.6010, 1.6040, 1.6070, 1.6120
Sup: 1.5865, 1.5820, 1.5780, 1.5760



USD/JPY
Weakness last week saw a test of multi-month trend-line support off the key long-term low at 79.75. A break under the 2009 low at 84.82 is expected over coming sessions to trigger a return to 79.75, medium-term.

Res: 86.00, 86.25, 86.45, 86.70
Sup: 85.00, 84.80, 84.00, 83.50



USD/CHF
A daily falling channel dominates with resistance through highs at 1.0676/1.0640. A re-test of channel support, currently at 1.0325 is expected where a break lower may occur for a re-test of 1.0231.

Res: 1.0450, 1.0480, 1.0515, 1.0555
Sup: 1.0335, 1.0310, 1.0290, 1.0230