Short Term Technical Analysis for Majors (07:50 GMT)

[WindsorBrokers]

EUR/USD

Reversal from 1.3156, last Friday’s high, also near 76.4% retracement of 1.3332/1.2586 downleg, warns of pullback towards 1.2955/20 zone, to possibly complete 3-legged swings from 1.2586. Upside, regain of1.3156/86 is needed to firm for return to 1.3332.

Res: 1.3130, 1.3156, 1.3186, 1.3227
Sup: 1.3020, 1.2975, 1.2955, 1.2920





GBP/USD

Last Friday’s upside rejection at 1.5728, 61.8% retracement of 1.5997/1.5295 decline, triggered correction, with 1.5610 seen so far. While above 1.5571, scope remains for further gains within rising hourly channel, and retest of 1.5728. Loss of 1.5571, however, would weaken the near-term tone and open 1.5535 instead.

Res: 1.5728, 1.5760, 1.5820, 1.5865
Sup: 1.5610, 1.5595, 1.5571, 1.5535





USD/JPY

Strong rally off 82.86 yearly low, tested 85.91/92, 19/30 Aug highs, though clear break here is requested to resume gains towards 86.38, 38.2% level. Correction lower is underway, with 85.21 expected to hold, to keep immediate bulls in play, while break here would signal an end of correction from 82.86.

Res: 85.91, 86.38, 86.89, 86.99
Sup: 85.50, 85.21, 85.00, 84.72





USD/CHF

Soared through 1.0050/61 resistance last week, to extend corrective phase off 0.9931. A lower top is now in place at 1.0181, 17 Sep high, near trendline drawn off 1.0625, 12 Aug high. The latest upside rejection at 1.0116 supports return to 0.9997/31.

Res: 1.0116, 1.0149, 1.0181, 1.0197
Sup: 0.9998, 0.9965, 0.9931, 0.9916