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

[WindsorBrokers]

EUR/USD

Maintains positive near-term tone after Friday’s reversal found support at 1.3545 and sharp rally broke above 1.37 barrier, 61.8% retracement of 1.3860/1.3427 decline.. Corrective pullback is seen preceding fresh strength, with 1.3650/30 expected to contain dips. Above 1.3714, overnight high, immediate focus turns to 1.3743, 09 Feb lower high. Clearance of the latter to signal an end of correction from 1.3860 and expose 1.3766/88 next.

Res: 1.3714, 1.3743, 1.3766, 1.3788
Sup: 1.3665, 1.3645, 1.3620, 1.3605






GBP/USD

Has nearly fully retraced the recent pullback from 1.6277, 03 Feb high, that bottomed at 1.5957. Fresh strength has so far reached 1.6262, en-route to 1.6277 lower high, break of which to expose key short-term resistance at 1.6297. Above here to open fresh phase higher of the broader recovery from 1.4230. At the downside, 1.6200/1.6185 offers initial support, with 1.6150 expected to hold dips, to keep immediate bulls in play.


Res: 1.6248, 1.6277, 1.6297, 1.6350
Sup: 1.6205, 1.6185, 1.6149, 1.6110





USD/JPY

Remains in a near-term corrective/consolidative mode after break above 83.67, previous high, peaked at 83.96, ahead of 84.49, key short-term resistance. Support zone at 83.10/00 area, 55 day MA / 14/17 Feb lows, also neckline of asymmetric head and shoulders pattern on 4 hour chart, is tested so far, and loss here would signal further correction and open 82.87/52, 38.2% / 50% retracement of 81.10/83.96 upleg.

Res: 83.52, 83.73, 83.96, 84.19
Sup: 83.01, 82.87, 82.52, 82.20




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 0.9432, 76.4% retracement of 0.9327/0.9773 ascend. This signals 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 attempts are seen capped by 0.9536 for now.

Res: 0.9536, 0.9551, 0.9581, 0.9600
Sup: 0.9432, 0.9420, 0.9365, 0.9327