Short Term Technical Analysis for Majors (14:00 GMT)

[WindsorBrokers]

EUR/USD
Broke through trendline support to test 1.3085, 200 day moving average so far. Minor consolidation is under way, with 1.3191 offering immediate cap. Hourly conditions remain bearish and loss of 1.3085/54 to target key 1.2968 level, break of which will end the corrective phase and focus 1.2800, 61.8% of the broader 1.1875/1.4280 ascend.

Res: 1.3125, 1.3158, 1.3169, 1.3192
Sup: 1.3085, 1.3071, 1.3054, 1.2968





GBP/USD
Remains at the back foot after today’s attempt higher failed at 1.5562, ahead of sharp reversal. Narrowing range is now limited by 1.5562 and 1.5604, trendline resistance, and break here needed to maintain short-term uptrend off 1.5343, while downside break below 1.5463/49 confirms top at 1.5659 and opens way for possible retest of 1.5366/43.

Res: 1.5527, 1.5562, 1.5578, 1.5626
Sup: 1.5469, 1.5464, 1.5449, 1.5433





USD/JPY
Trades in a near-term corrective/consolidative mode, following the latest surge to 83.38. Immediate support lies at 82.80, while break below 82.45/27 delays bulls in favor of deeper correction. Clearance of 83.38 to focus 83.90/84.19, with retest of key 84.49 resistance not ruled out on a break of the latter.

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





USD/CHF
0.97 zone caps the recent strong gains off 0.9301/06 historical low, with possible corrective pullback expected to hold above 0.9545/15 to keep immediate bulls in play. Above 0.9700 to target 0.9720/30, then 0.9770, 61.8% Fibonacci retracement of 1.0064/0.9301. Below 0.9515, however, would sideline bulls and allow for stronger correction.

Res: 0.9706, 0.9720, 0.9730, 0.9770
Sup: 0.9648, 0.9629, 0.9604, 0.9583