Short Term Technical Analysis for Majors (07:40 GMT)

[WindsorBrokers]

EUR/USD

Surges higher after break through trendline resistance and 61.8% retracement of 1.5144/1.1875, to attempt at 1.4000 psychological level. Break higher opens 1.4025, 03 Mar high, with 1.4193, 25 Jan high seen near-term. Downside, 1.3797 offers key near-term support and potential break lower to delay bulls.

Res: 1.4000, 1.4025, 1.4055, 1.4065
Sup: 1.3880, 1.3858, 1.3805, 1.3797





GBP/USD

Maintains positive structure off 1.5668, 30 Sep higher low, with minor continuation now setting up a likely challenge on 1.5997, 06 Aug high, break of which would firm the multiweek tone. Immediate support now lies at 1.5830 while loss of key 1.5750 support weakens the structure.

Res: 1.5937, 1.5965, 1.5997, 1.6010
Sup: 1.5830, 1.5790, 1.5750, 1.5750





USD/JPY

Continues to trend lower, with yesterday’s break below 82.86 marking the full reversal of the latest 82.86/85.92 upleg and posting fresh 15 year lows. Market is now looking for 81.77, 29 May 1995 low. Upside, 83.02 offers immediate resistance, while break above 83.97 would allow stronger correction.

Res: 83.02, 83.32, 83.63, 83.85
Sup: 82.30, 81.77, 81.50, 81.00







USD/CHF

Remains in a downtrend off 1.0181, with break below 0.9630 historical low and 0.9597, yesterday’s fresh low, now looking for test of 0.9500 zone. Upside, 0.9627/43 caps for now, while break above 0.9683 offer relief.

Res: 0.9627, 0.9643, 0.9683, 0.9706
Sup: 0.9550, 0.9500, 0.9455, 0.9400