Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

[WindsorBrokers]

EUR/USD
Enters the near-term consolidation phase after yesterday’s rally posted fresh high at 1.4548. Current range floor at 1.4490/65 needs to hold dips to maintain immediate bulls in play for fresh attempt higher and through 1.4548 to focus 1.4576, 04 July high. On the downside, loss of 1.4465, would allow for deeper pullback, while only below 1.4345/28, trendline support / 25/26 Aug double bottom, to weaken the structure.

Res: 1.4532, 1.4550, 1.4576, 1.4600
Sup: 1.4483, 1.4465, 1.4425, 1.4400



GBP/USD

Near-term studies start to point lower after gains from 1.6207 low stalled at 1.6453, just under main trendline resistance and the latest attempt below initial support at 1.6390, would signal further retracement. Next support comes at 1.6358, 38.2%, ahead of 1.6322/10, 29 Aug low / trendline support, below which would signal lower top and resumption of the broader downtrend.

Res: 1.6394, 1.6420, 1.6450, 1.6465
Sup: 1.6368, 1.6358, 1.6330, 1.6322


USD/JPY

Maintains near-term negative tone as long as 77.00 zone caps the upside. Hourly break below 20 day MA looks for test of initial support at 76.56/45, yesterday’s low / range floor, below which to confirm an end of 3-week range trading and resume broader downtrend. On the upside, regain of 77.00 improves but clearance of 77.68 is required to signal stronger recovery.

Res: 76.97, 77.06, 77.26, 77.45
Sup: 76.56, 76.46, 76.30, 76.00



USD/CHF

Break above the recent consolidation range has triggered fresh rally that peaked at 0.8239 yesterday, ahead of correction. Initial support at 0.8155/45 zone was tested so far, with further reversal into 0.8000 zone seen, before fresh leg higher. Above 0.8239 to focus 0.8276, 19 July high.

Res: 0.8185, 0.8200, 0.8239, 0.8276
Sup: 0.8073, 0.8013, 0.8000, 0.7987