Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)

[WindsorBrokers]

EUR/USD

Dipped below 1.4156 support after being capped at 1.4230, to hit fresh five week low at 1.4122. Corrective bounce faces immediate resistance at 1.4230, ahead of 1.4250/70 and dynamic 20 day MA resistance at 1.43 zone, where a lower high is anticipated for fresh leg lower. Near-term focus is at 1.4020, 28 Mar low.

Res: 1.4233, 1.4253, 1.4269, 1.4300
Sup: 1.4134, 1.4122, 1.4100, 1.4060

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GBP/USD

Maintains bearish tone from 1.6745, after yesterday’s strong bounce off 1.6343 stalled at 1.6516, followed by sharp reversal confirming top at 1.6516. Fresh weakness through 1.6300/1.6269 supports has so far tested 1.6226 support zone, with further extension to 1.6165 seen near-term. On the upside 1.6320/80 levels offer resistance, with break above the latter needed to signal further recovery.

Res: 1.6290, 1.6320, 1.6354, 1.6380
Sup: 1.6269, 1.6230, 1.6200, 1.6165

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USD/JPY

Trades in a near-term corrective mode after upside rejection at 81.33 and break below 81.00 level. 20-day MA hold dips for now at 80.70, along with 80.61 higher, with reversal here needed to keep immediate bulls intact. Above 81.33 opens 81.68/84 next. On the downside, loss of 80.61 would delay and allow for deeper correction towards 80.15.

Res: 81.33, 81.68, 81.84, 82.25
Sup: 80.75, 80.61, 80.52, 80.15

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USD/CHF

Extended rally from 0.8550 record low, to briefly test 0.8900, strong resistance zone that caps the upside for now. Corrective dips should be contained at 0.8845/22 zone, to maintain immediate bull tone, with break through 0.8900 to focus 0.8930/60 barriers, ahead of possible attempt at key short-term resistance at 0.9006.

Res: 0.8902, 0.8930, 0.8960, 0.9006
Sup : 0.8861, 0.8845, 0.8800, 0.8781

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