Short Term Technical Analysis for Majors (15:00 GMT)

[WindsorBrokers]

EUR/USD

Declined through key 1.3433, range floor yesterday, to reach fresh yearly low at 1.3266 overnight. Next downside targets stand at 1.3245, then 1.3190, ahead of possible attempt at 1.3090. Correction now under way, with latest break above 1.3386, yesterday’s high / trendline resistance, now focusing 1.3462/74. Failure to leave higher low there may put immediate bears on hold for stronger correction towards 1.3530/65.

Res: 1.3444, 1.3462, 1.3486, 1.3503
Sup: 1.3345, 1.3386, 1.3322, 1.3283




GBP/USD

Failed to sustain bounce off 1.4853 double bottom, leaving lower top at1.5003, ahead of fresh weakness to 1.4797, just ahead of key 1.4780, annual low. Break here would likely spark significant weakness towards 1.45/1.44 zone in the near future. Upside, only regain of 1.5380 would improve the outlook.

Res: 1.4930, 1.5003, 1.5018, 1.5060
Sup: 1.4824, 1.4797, 1.4780, 1.4765




USD/JPY

Break through 91.74, two years falling trendline and 92.13, previous high, now focuses 93.09/75, 50% retracement of the broader 101.43/84.80 downmove. 92.29/91.75 zone offers immediate support.

Res: 92.94, 93.09, 93.39, 93.75
Sup: 92.29, 92.13, 91.75, 91.50




USD/CHF

Extended recovery off 1.0505, 17 Mar low, to reach 1.0749 high yesterday. Corrective pullback now under way, with 1.0673/60, initial support zone now being dented, for possible stronger correction towards 1.0609/1.0570 where higher low is seen. Loss of the latter, however, will sideline and attempt at 1.0805/10 and open 1.0545/05 instead.

Res: 1.0700, 1.0722, 1.0749, 1.0793
Sup: 1.0634, 1.0609, 1.0570, 1.0545