Short Term Technical Analysis for Majors (14:30 GMT)

[WindsorBrokers]

EUR/USD

Remains in a near-term uptrend after pullback from overnight’s 1.3608 high was contained by 1.3540/35 support zone. Fresh strength accelerated through 1.3608 to test 1.3640, 50% retracement of 1.3860/1.3427 decline, with 1.3694, 61.8%, in sight, before final attempt towards 1.3743, 09 Feb lower high. Break here is needed to signal an end of corrective phase from 1.3860 and open the latter for retest. Immediate support lies at 1.3615/1.3590 area, while 1.3540/35 remains key.

Res: 1.3645, 1.3694, 1.3743, 1.3788
Sup: 1.3615, 1.3605, 1.3590, 1.3540




GBP/USD

Narrow consolidation under 1.6184 preceded the fresh push higher. Lift above 1.6184 has so far tested 1.6246, just ahead of key short-term resistance zone at 1.6277/97. Break here will signal a fresh phase higher and extend broader uptrend from 1.4230, May 2010 higher low. At the downside, 1.6184, now reverted to support, and 1.6149, underpin the advance.

Res: 1.6277, 1.6297, 1.6350, 1.6456
Sup: 1.6184, 1.6149, 1.6110, 1.6075





USD/JPY

Remains in a near-term corrective/consolidative mode after break above 83.67, previous high, peaked at 83.96, en-route to 84.49, key short-term resistance. Immediate support lies at 83.10 area, 55 day MA / 14/17 Feb lows, also neckline of asymmetric head and shoulders pattern on 4 hour chart, loss of which would signal further correction and open 82.87/52, 38.2% / 50% retracement of 81.10/83.96 upleg.

Res: 83.48, 83.73, 83.96, 84.19
Sup: 83.15, 83.05, 82.87, 82.52





USD/CHF

Extends reversal from 0.9773, 11 Feb peak, breaking through 0.9500, 61.8% retracement of 0.9327, 02 Feb low, to post fresh low at 0.9476. This may signal an end of recovery attempt from 0.9327, 02 Feb low, as negative near-term studies look for further downside extension and test of 0.9420/0.9394, ahead of possible full retracement of the recent upleg. Corrective attempt off 0.9476 is so far capped by 0.9536.

Res: 0.9536, 0.9551, 0.9581, 0.9600
Sup :0.9486, 0.9476, 0.9462, 0.9420