Short Term Technical Analysis for Majors (08:00 GMT)

[WindsorBrokers]

EUR/USD
Extends decline from 1.3431, with break through yesterday’s low at 1.3125, now attempting through trendline support at 1.3104 for test of 1.3085, 200 day MA. Break here to expose 1.3054 higher platform and key 1.2968 support. Immediate resistances lie at 1.3169/92, but regain of 1.3249/84 is required to ease bear pressure

Res: 1.3158, 1.3169, 1.3192, 1.3249
Sup: 1.3085, 1.3071, 1.3054, 1.2968




GBP/USD
Upside so far remains capped by 1.5659 after renewed attempts higher failed at 1.5644 and 1.5626. While the above levels stay intact, immediate risk is turned lower, for test of 1.5449/33 and trendline support at 1.5417, break of which will confirm lower top at 1.5659 and expose 1.5366/43 next

Res: 1.5540, 1.5578, 1.5626, 1.5644
Sup: 1.5489, 1.5449, 1.5433, 1.5417





USD/JPY
Strong rally emerged from yesterday’s 81.67, accelerating gains after break above 82.27, previous high, to reach 83.38, retracing over 61.8% of 84.49/80.92 downleg. Corrective pullback is under way, with immediate support at 82.80. Only loss of 82.45/27 would delay bulls.

Res: 83.38, 83.70, 83.90, 84.19
Sup: 82.80, 82.45, 82.27, 81.87





USD/CHF
Yesterday’s sharp rally after break above 0.9515 previous low, extended gains through 0.9644/63 barriers, approaching key near-term resistances at 0.9720/30 and 0.9770, 61.8% Fibonacci retracement of 1.0064/0.9301. Overbought conditions, however, signal correction, with 0.9545/15 expected to contain pullback, ahead of fresh strength.

Res: 0.9693, 0.9720, 0.9730, 0.9770
Sup: 0.9629, 0.9604, 0.9583, 0.9545