Short Term Technical Analysis for Majors (08:20 GMT)

[WindsorBrokers]

EUR/USD

Corrective attempt 1.2586/1.2625, 24/31 Aug lows, stalled at 1.2916 yesterday, just below key resistance area at 1.2920/31. This may signal a completion of the corrective phase, with break below 1.2775 to open 1.2741 first, ahead of 1.2700. Upside, regain of 1.2875 1.2871 firms the tone, but sustained break above 1.2931 resumes the recovery.

Res: 1.2875, 1.2893, 1.2916, 1.2931
Sup: 1.2775, 1.2741, 1.2728, 1.2700





GBP/USD

Yesterday’s failure to break above 1.5490 triggered immediate pullback, turning the focus lower. 1.5344 has been reached so far, just above 1.5325, key near-term support. Break here to fresh weakness towards 1.5250/40 zone, though, correction higher may precede the downmove. Only above 1.5490 improve the near-term outlook.


Res: 1.5465, 1.5490, 1.5543, 1.5573
Sup: 1.5344, 1.5336, 1.5325, 1.5296





USD/JPY

Returns to the negative tone, following an upside rejection at 85.21 on 03 Sep and today’s fresh attempt at the recent consolidation floor at 83.66/51. Potential break here to open the next phase lower and target 81.88, May 1995 low, short-term. Only regain of 84.65 would provide a near-term relief.

Res: 84.52, 84.65, 85.00, 85.19
Sup: 83.66, 83.51, 83.10, 82.30





USD/CHF

Last Friday’s upside rejection at 1.0237 confirms weakness, with market currently pressuring key longer-term bear flag support at 1.0065. Break here will suggest a significant medium-term weakness, with initial targets standing at 0.9980/16. Upside remains capped by 1.0141/86.

Res: 1.0141, 1.0186, 1.0224, 1.0237
Sup: 1.0065, 1.0027, 1.0000, 0.9980