Short Term Technical Analysis for Majors (08:30 GMT)

[WindsorBrokers]

EUR/USD
Yesterday’s failure at 1.4080 has seen a dip to 1.3907, ahead of fresh attempt higher. Sustained break above 1.4000 is now required to confirm higher low and resume gains towards 1.4080, and eventual attack at 1.4156. Holding below 1.4000, however, would consider deeper correction, with loss of 1.3843, 61.8% of 1.3696/1.4080 to sideline near-term bulls.

Res: 1.3995, 1.4003, 1.4050, 1.4080
Sup: 1.3907, 1.3892, 1.3857, 1.3843




GBP/USD
Remains in a consolidative mode above 1.5649/51 double bottom, with latest break above trendline drawn off 1.5877, increasing hopes of fresh attempt at 1.5877, with break here needed to confirm a base and resume underlying bull-trend. Rejection under 1.5877, however, risks retest of 1.5651/49.

Res: 1.5826, 1.5848, 1.5877, 1.5940
Sup: 1.5716, 1.5694, 1.5649, 1.5603





USD/JPY
Yesterday’s break out of one-week consolidation range has seen a fresh yearly low of 80.40, followed by corrective bounce. This needs to regain minimum 81.49 to ease current bear pressure and allow for stronger correction towards 81.91 and key near-term resistance at 82.34. Rejection under 81.49 risks lower top and continuation of the downtrend, with historical low at 79.75 being in focus.

Res: 81.31, 81.49, 81.91, 82.34
Sup: 80.60, 80.40, 80.00, 79.75





USD/CHF
Continues to correct higher off 0.9461, after last Friday’s upside rejection at 0.9803 found a foothold at 0.9661 yesterday. Fresh gains need to regain 0.9803 to resume correction, while loss of 0.9461/0.9569, trendline support/20 Oct low, would refocus 0.9461.

Res: 0.9757, 0.9781 0.9803, 0.9845
Sup: 0.9695, 0.9661, 0.9609, 0.9569