Short Term Technical Analysis for Majors (14:15 GMT)

[WindsorBrokers]

EUR/USD

Continues to trend lower, following yesterday’s failure at 1.3360. Today’s break below 1.3114, yearly low, has triggered an extension of the underlying bear structure, with 1.3000, psychological level, seen next. Below here would focus 1.2964, then 1.2885, Apr 2009 low.

Res: 1.3153, 1.3214, 1.3252, 1.3342
Sup: 1.3000, 1.2964, 1.2885, 1.2835




GBP/USD

Recent failure to sustain gains off daily double bottom at 1.4780/1.4797 had been triggered warns of a relapse back towards 1.5141 initially. Hourly structure remains negative with a bear flag now triggered, and potential break through 1.5141/24 to re-focus 1.4797/80. Only regain of 1.5389 to improve the outlook.

Res: 1.5210, 1.5265, 1.5283, 1.5334
Sup: 1.5124, 1.5075, 1.5042, 1.4929




USD/JPY

Today’s attempt at 95.07 failed at 94.97, ahead of pullback. This has dented 94.42, initial support, increasing possibility of stronger correction, ahead of fresh push higher. 94.27/93.83 offer good support for now and only below the latter to question near-term bulls. Above 95.07, will focus 95.30/50.

Res: 94.97, 95.07, 95.30, 95.50
Sup: 94.27, 93.83, 93.71, 93.37




USD/CHF

Extends gains from 1.0728, yesterday’s higher low, and break through 1.0922, 28 Apr peak, currently testing 1.0985, 08 Jun 2009 high. Clear break here to expose 1.1021/1.1057, June/May 2009 highs, respectively. Overbought hourly studies warn of correction, with 1.0839/08 offering initial support.


Res: 1.0985, 1.1021, 1.1057, 1.1070
Sup: 1.0839, 1.0808, 1.0745, 1.0728