Windsor Brokers - Short Term Technical Analysis for Majors (09:30 GMT)

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EUR/USD
Has regained some ground after yesterday’s weakness was contained at key near-term support and range floor at 1.3025. The downside remains vulnerable, as long as key barriers at 1.3200/32 cap the upside. This morning’s fresh strength probed levels above bear-trendline at 1.3160, however, sustained break here is required maintain fresh strength off 1.3025 for possible attack at 1.3200/32. Hourly studies are turning positive, with 20 day SMA at 1.3110, underpinning. On the downside, break below 1.3100/1.3088, to signal an end of recovery attempt and re-focus key near-term support at 1.3025.

Res: 1.3080, 1.3100, 1.3130, 1.3166
Sup: 1.3025, 1.3000, 1.2953, 1.2930


GBP/USD
Improves the near-term outlook after yesterday’s dip under strong support at 1.5750, 03 Feb low / Fib 38.2% of 1.5530/1.5881, proved to be a false break, as the pair quickly recovered to the levels above 1.5800. However, broader picture keeps the negative tone, a long as bear-trendline off 1.5881, currently at 1.5837, limits the upside. Break here is required to open 1.5859 and 1.5881 barriers and signal an end of near-term corrective/consolidative phase. Key near-term supports lie at 1.5730/05 and only loss of the latter to sideline short-term bulls in favor of stronger correction.

Res: 1.5839, 1.5859, 1.5881, 1.5900
Sup: 1.5800, 1.5791, 1.5750, 1.5730


USD/JPY
The pair enters near-term range-trade, following the latest rally of 76.00 base that was limited at 76.80 so far. However, while key support and recent range floor at 76.50 holds, the potential for further recovery exists, with break through Fibonacci 38.2% at 76.86 and 77.00, figure resistance, to expose dynamic resistances at 77.10/30, 55 / 90 day SMA’s and Ichimoku cloud base at 77.40. Regain of these levels is required to bring the pair back to the previous ranges and avert downside risk of testing all-time low at 75.56.

Res: 76.79, 76.89, 77.00, 77.10
Sup: 76.61, 76.50, 76.40, 76.13


USD/CHF
Returns to the near-term range, after yesterday’s brief break above strong barrier and range ceiling at 0.9250, also Fib 38.2% of 0.9338/0.9113 descend. Sharp reversal and break below 0.9200 handle, turns the near-term structure into neutral/negative territory, with break of either side to define near-term direction. Daily studies, however, keep the downside focused, as congestion at 0.9250 zone limits the upside, with widening daily Bollingers, looking for retest of 0.9113/00 for possible attack at Ichimoku cloud base at 0.9057, below which to signal further extension of short-term downtrend from 0.9593, 09 Jan peak.

Res: 0.9200, 0.9213, 0.9250, 0.9261
Sup: 0.9160, 0.9125, 0.9113, 0.9100