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

[WindsorBrokers]

B]EUR/USD[/b]
Reversal off yesterday’s 1.3537 fresh one-month high, extended lower to 1.3417, ahead of fresh attempt at 1.35 barrier. Repeated failure to sustain gains above the latter, keeps overall tone negative, with loss of 1.3252/43 key near-term support to signal fresh weakness and expose 1.3088 next. Clear break above 1.35, however, would signal fresh phase higher, with 1.3632 seen next.

Res: 1.3522, 1.3537, 1.3573, 1.3632
Sup: 1.3417, 1.3355, 1.3252, 1.3243





GBP/USD
Underwent narrow corrective/consolidation phase after peaking at 1.6058 on 18 Jan and yesterday’s upside failure at 1.6035. Holding above 1.5910 keeps short-term bulls in play, with fresh attempt at/ through 1.6058 to extend gains towards 1.6083/93 zone next. Loss of 1.5910 would weaken the near-term structure, while break below 1.5810/1.5760, higher low, 60 day MA would signal current bulls on hold in favor of stronger reversal.

Res: 1.6008, 1.6035, 1.6058, 1.6080
Sup: 1.5908, 1.5868, 1.5806, 1.5729




USD/JPY
Reversal from 83.67, 07 Jan peak, broke below key near-term support at 82.00, 61.8% Fibonacci retracement of 80.92/83.67 upleg, extending losses to 81.84, just above 81.67, 04 Jan higher low. Temporary support was found at 81.84, with strength emerging from here required to break above 82.80/83.05 resistance zone, to signal further recovery towards 83.45/67. Otherwise, lower top and fresh attempt at 81.67/80.92 would be likely scenario.

Res: 82.81, 83.05, 83.14, 83.45
Sup: 81.84, 81.67, 81.27, 80.92





USD/CHF
Extends reversal, following the upside failure of the recent recovery attempt from 0.9301 at 0.9782. Over 50% has so far been retraced at 0.9518, where temporary support was found. Recovery attempt needs to clear 0.9631/54 to signal further gains towards 0.9675/85. Failure under the latter, however, would suggest forming a lower high and continuation of the near-term bear trend from 83.67, with focus on 0.9485.

Res: 0.9631, 0.9654, 0.9675, 0.9685,
Sup: 0.9525, 0.9518, 0.9487, 0.9462

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