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

[WindsorBrokers]

EUR/USD
Extends pullback after the latest surge through 1.3431 previous high, failed to regain key short-term resistance at 1.3500. Market retraced near 38.2% of 1.2872/1.3457 upleg at 1.3243, so far. Near-term studies see scope for further reversal towards 1.3200/1.3165 area, possibly 1.3100 zone on a break. Loss of the latter would, however, re-focus 1.2872.

Res: 1.3341, 1.3384, 1.3400, 1.3431
Sup: 1.3243, 1.3235, 1.3188, 1.3165





GBP/USD
The recent strength off 1.5343/1.5404 zone has finally cleared 1.5910, key short-term resistance, confirming higher low at 1.5343 and opening way for fresh extension towards 1.5965 next. Initial support lies at 1.58/1.5780 zone, while only loss of 1.5680 delays immediate bulls.

Res: 1.5953, 1.5965, 1.6000, 1.6095
Sup: 1.5885, 1.5834, 1.5809, 1.5779






USD/JPY
Remains in a downtrend off 83.67/45, to reach fresh low at 82.34 after recovery attempt from Friday’s 82.40 low stalled at 83.05. Break below 82.34/27 support zone opens 81.97, 61.8% of 80.92/83.67 ascend, loss of which would confirm lower top at 83.67 and open 81.67, possibly 80.92 on a break. Only regain of 83.15/45 improves, while clearance of 83.67 needed to resume recovery towards 83.90/84.19.

Res: 83.05, 83.14, 83.48, 83.67
Sup: 82.34, 82.27, 82.00, 81.67





USD/CHF
Extends reversal after hitting fresh high at 0.9782, on a recovery from 0.9301. Market reached 0.9603 low so far, though, and while 0.9594, recent range bottom holds, immediate scope remains for fresh attempt higher to retest 0.9762/82 and possible extension of the latest recovery phase. Loss of 0.9594, however, would signal deeper reversal and open 0.9540/0.9485, 50% / 61.8% retracement levels of 0.9301/0.9782 upleg next.

Res: 0.9685, 0.9735, 0.9762, 0.9782
Sup: 0.9603, 0.9594, 0.9540, 0.9515