Short Term Technical Analysis for Majors (08:30 GMT)

[WindsorBrokers]

EUR/USD

Upswing off 1.3383, yesterday’s low, has probed above 1.3540, 50% retracement of 1.3815/1.3266 downleg to open 1.3570, key 23 Mar lower ceiling. Potential break here would attract 1.3605, 61.8% retracement, next. Loss of 1.3433/15 would resume the underlying bear trend.

Res: 1.3560, 1.3570, 1.3605, 1.3638
Sup: 1.3475, 1.3433, 1.3415, 1.3383




GBP/USD

Continues to trade within an hourly rising channel, to reach 1.5246, just ahead of 1.5256, 19 Mar high. Scope is now seen for further near term strength, with potential break through the latter to open way for the key 1.5380, 17 Mar peak. Upside rejection, however, risks a lower top for an eventual relapse lower back towards 1.4780 annual low.

Res: 1.5256, 1.5278, 1.5315, 1.5327
Sup: 1.5167, 1.5117, 1.5088, 1.5042




USD/JPY

Continues to trend higher, fueled by the longer-term bear channel break. Completion of bull flag completion and yesterday’s lower rejection at 92.75 now supports fresh gains towards initial 9375, yearly high, posted on 08 Jan. Break here opens 94.05/30 first.

Res: 93.75, 94.05, 94.30, 94.65
Sup: 93.05, 92.75, 92.45, 92.11




USD/CHF

Has broken out of a minor bearish coil which held below 1.0688/1.0703 hourly lower tops. Subsequent break below 1.0505, 17 Mar swing low, now reaffirms 3-legged 0.9916/1.0898 rise, with short-term risk at 1.0424/1.0368 next.

Res: 1.0565, 1.0585, 1.0649, 1.0688
Sup: 1.0485, 1.0775, 1.0447, 1.0424