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

[WindsorBrokers]

EUR/USD

Today’s break below 1.3433, range bottom, triggered market lower to reach fresh yearly lows. 1.3339, 8 May 2009 low has also been cleared way for test of 1.3190, 30 Apr 2009 low. 1.3462, former support, now reverted to resistance, expected to cap, to hold immediate bears in play.

Res: 1.3444, 1.3462, 1.3480, 1.3502
Sup: 1.3245, 1.3190, 1.3165, 1.3120




GBP/USD

Negative tone now dominates after 1.5111 confirmed as lower top. Today’s break under 1.4930, key near-term support, triggered fresh weakness to test 1.4871, 10 Mar low. This sees potential for final attempt at 1.4780, break of which may signal a significant decline in a near future. Regain of 1.5086/1.5111, however, would ease bear pressure.

Res: 1.4930, 1.4971, 1.5018, 1.5051
Sup: 1.4871, 1.4855, 1.4780, 1.4765




USD/JPY

Today’s strength has broken out of 89.74/91.08 consolidation range, extending gains to 91.95 thus far. Next targets stand at key 92.13, 19 Feb high, break of which would allow stronger correction 93.15/39. Downside, 91.08/90.79 area offers initial support, while only loss of 89.74 would damage current structure.

Res: 92.13, 92.45, 93.15, 93.39
Sup: 91.08, 90.79, 90.35, 90.12





USD/CHF

Triangular consolidation from 1.0505, 17 Mar low, broke above key resistance, to extend gains to 1.0714 so far. Near-term structure remains positive and potential break above 1.0729, 11 Mar high to spark a recovery to 1.0805/10 next. Correction now under way, with 1.0637/09 now offering initial support.

Res: 1.0729, 1.0810, 1.0898, 1.0940
Sup: 1.0637, 1.0609, 1.0534, 1.0477