Short Term Technical Analysis for Majors (11:10 GMT)

[WindsorBrokers]

EUR/USD
Now under yesterdays low at 1.3074 ends scope for a continued corrective phase off this same level. Short-term momentum studies warn of oversold conditions. In any case, a lower high is now sought for further losses.

Res: 1.3130, 1.3195, 1.3235, 1.3270
Sup: 1.3000, 1.2980, 1.2950, 1.2920




GBP/USD
The recent failure to hold over daily rising channel resistance warns of a topping pattern. While below yesterday's spike high at 1.5910, bears dominant. However, a final swing higher towards 1.6000 cannot be ruled out.

Res: 1.5880, 1.5910, 1.5975, 1.6000
Sup: 1.5665, 1.5580, 1.5550, 1.5520



USD/JPY
Once again probes the region close to monthly trend channel support off the key low at 79.75. An eventual clean break below both 85.02 and 84.82 is expected for a continuation of weakness towards 83.51 initially.

Res: 85.50, 85.95, 86.30, 86.50
Sup: 84.80, 84.00, 83.50, 83.00




USD/CHF
The rise of last Friday's 1.0332 remains constructive with a lower high now sought for a further leg higher. With this in mind a swing low towards 1.0413/1.0375 is possible.

Res: 1.0580, 1.0620, 1.0650, 1.0695
Sup: 1.0460, 1.0440, 1.0405, 1.0365