Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 59
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
The pair continues to trend higher after yesterday’s close above 1.3200 handle, with overnight’s fresh strength, approaching key short-term barrier at 1.3290/1.3300, 08 Mar peak / Fib 61.8%. Near-term structure remains supportive and clearance of 1.3290/1.3300 to confirm bottom at 1.3000 and expose previous support and break point at 1.3360 zone. Immediate support lies at 1.3250, yesterday’s high / 20 day EMA, ahead of 1.3210, 55 day EMA and key near-term support at 1.3170, yesterday’s low / Fib 38.2% of 1.3000/1.3282. Only break here would delay bulls.
Res: 1.3240, 1.3264, 1.3290, 1.3300
Sup: 1.3250, 1.3210, 1.3190, 1.3170
GBP/USD
The upside levels above 1.5900 stay intact for now, as the pair moves sideways, holding just above broken 200 day SMA, currently at 1.5856. Hourly studies are still neutral, while daily structure sees signs of improvement, however, clear break above 1.5900/13 is required to confirm and open 1.6000 zone for retest. On the downside, 200 day SMA offers initial support, ahead of 1.5830/20 higher base, also 20 day EMA, with break below here to weaken the near-term structure.
Res: 1.5894, 1.5900, 1.5913, 1.5974
Sup: 1.5856, 1.5830, 1.5820, 1.5800
USD/JPY
The near-term price action remains entrenched within 83.00/83.80 range, after bounce off 83.00, regained initial barrier at 83.60, but failed on approach to the next barrier at 84.00 zone. The near-term studies remain neutral, with break of either limit to define the near-term price direction. Extended daily studies, however, see potential for stronger reversal.
Res: 83.75, 83.82, 83.93, 84.00
Sup: 83.52, 83.28, 83.00, 82.80
USD/CHF
Returns to weakness, as the near-term recovery attempt off yesterday’s low at 0.9090, stalled at the first barrier at 0.9150. Fresh slide aims at 0.9100/0.9090, loss of which to resume short-term bears off 0.9333 high and expose next static supports at 0.9070/20. Yesterday’s high at 0.9150, is expected to cap the upside for now.
Res: 0.9124, 0.9138, 0.9150, 0.9176
Sup: 0.9078, 0.9070, 0.9020, 0.9000
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Remains in a near-term range-trade, as the upside targets at 1.3290/1.3300 zone, stay intact for now. However, the downside was so far protected at 1.3170, 20 Mar low, where yesterday’s fall found support. Hourly studies are rather neutral, while 4H ones, still in the positive territory, started pointing lower. Upside rejection below 1.3283 would signal possible completion of 4H head and shoulders pattern, with break below 1.3170 base, also neckline, required to confirm. On the upside, break above current range and clearance of key near-term barriers at 1.3290/1.3300 would open way for fresh extension of short-term uptrend of 1.3000, 15 Mar low.
Res: 1.3264, 1.3290, 1.3300, 1.3331
Sup: 1.3213, 1.3190, 1.3170, 1.3140
GBP/USD
Four-hour chart shows the near-term price action in consolidative mode after upside false break above previous high at 1.5913 and subsequent reversal into 1.5820 zone, where the pair found footstep. Regain of 200 day SMA, keeps the positive tone in play, with hourly studies gaining momentum. Break above 1.5922, yesterday’s peak, is required to resume rally from 1.5600 base, for possible attack at 1.6000 zone target. Strong support lies at 1.5855, also 200 day SMA, while only break below 1.5820/00, range floor / Fib 38.2% of 1.5600/1.5922, would weaken near-term tone.
Res: 1.5894, 1.5900, 1.5913, 1.5974
Sup: 1.5855, 1.5830, 1.5820, 1.5800
USD/JPY
Continues to move sideways, as renewed attempt higher failed to reclaim previous high at 84.14. Near-term range floor at 83.00 holds the downside for now, however, negative hourly studies keep the focus at the downside, as studies on the daily chart started pointing lower, off their extreme levels. Risk is seen on loss of 83.00 base, also 55 day EMA that may trigger stronger correction, with immediate downside targets at 82.63, 09 Mar high and 82.00, Fib 61.8% of 80.57/84.17 upleg. Immediate resistance lies at 83.50, while regain of 83.80 would ease downside pressure.
Res: 83.50, 83.82, 83.93, 84.08
Sup: 83.12, 83.00, 82.80, 82.63
USD/CHF
Near-term recovery attempt off 0.9075, yesterday’s low / near Fib 61.8% of 0.8930/0.9333 ascend, was capped at initial resistance at 0.9150, where the fresh weakness started. As the hourly studies approach negative territory and price breaks below 20 day EMA, immediate risk is seen on retest of 0.9075/70 support, below which to resume short-term downtrend and expose 0.9000, next target. On the upside, strong resistance at 0.9150 is expected to cap.
Res: 0.9124, 0.9150, 0.9176, 0.9200
Sup: 0.9093, 0.9075, 0.9070, 0.9020
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The pair maintains near-term positive tone off last week’s low at 1.3132, as price action during the most of Asian session moved just under last Friday’s high at 1.3292. Immediate support at 1.3250, trendline drawn off 1.3132, so far holds the downside, with near-term studies in the positive territory, keeping the upside favored. However, clearance of past two week’s range top at 1.3290/1.3300, 08 Mar high / Fib 61.8% of 1.3485/1.3000, is required to resume short-term bulls off 1.3000, 15 Mar low and opens next barriers at 1.3331/55. Improving studies on a daily chart, may give an additional boost to the pair’s price. Below 1.3250, strong supports lie at 1.3220/00 and 1.3180 zone, with loss of the latter to weaken the near-term structure.
Res: 1.3283, 1.3292, 1.3300, 1.3331
Sup: 1.3246, 1.3220, 1.3200, 1.3190
GBP/USD
Bounce off last week’s low at 1.5769, keeps the near-term structure positive but gains stay short of near-term range ceiling at 1.5922, last week’s high, posted on 22 Mar. Weekly closure above 200 day SMA, currently at 1.5850, keeps the upside in focus, as daily studies moved above the centerlines. Regain of highs above 1.5900 is required to re-focus short-term top at 1.5991 and signal possible break above past two month range of 1.5600/1.5991. Immediate support lies at 1.5850, 55 day EMA / bull trendline off 1.5769, ahead of 1.5820/00, break of which to turn near-term focus lower and expose 1.5760/70, last week’s low / Fib 50% of 1.5600/1.5922 upleg.
Res: 1.5885, 1.5900, 1.5907, 1.5922
Sup: 1.5850, 1.5820, 1.5805, 1.5769
USD/JPY
Reversal from 84.17, 15 Mar fresh 11-month high, briefly broke below main bull-trendline off 76.00 base, also probing under 82.00 handle, during the past week. Firm break here would signal stronger reversal, as daily studies are now pointing lower. Near-term structure remains negative, with the recent sideways movement above last week’s low at 81.96, seen corrective, as 4H 55 day EMA keeps the upside capped for now, with, loss of 81.86/96 breakpoint, to open next significant supports at 81.05, 50% retracement and 80.55, 06/07 Mar higher platform. On the upside, 82.76 offers immediate resistance, ahead of 83.00/40 zone and only break above the latter to ease bear-pressure.
Res: 82.76, 82.94, 83.00, 83.15
Sup: 82.29, 81.95, 81.86, 81.45
USD/CHF
Short-term negative tone off 0.9333, 15 Mar top, remains in play, as the latest leg lower off last week’s high at 0.9177, briefly broke below very strong support at 0.9086/70 zone, Fib 61.8% of 0.8930/0.9333 ascend. Clear break here to signal a resumption of short-term downtrend off 0.9333 and expose 0.9020/00, next static support. Current bounce is seen corrective, with initial barrier at 0.9100 been tested so far, ahead of next levels at 0.9114 and 0.9136/50 zone. To improve the near-term picture, we need to see break above strong resistance at 0.9177, 19/22 Mar highs
Res: 0.9114, 0.9136, 0.9150, 0.9177
Sup: 0.9075, 0.9065, 0.9020, 0.9000
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Eventual break above week-long range ceiling at 1.3290 zone and Fibonacci level at 1.3300, has improved outlook on larger timeframes, as the price cleared interim barriers at 1.3331/55, opening way for test of key resistance at 1.3485, 24/29 Feb double top. Hourly studies in overbought territory, however, see potential for consolidative/corrective action, before bulls resume. Previous resistance at 1.3331, along with 20 day EMA, offers initial support, ahead of more significant 1.3300/1.3280 zone. Only loss of 1.3200 handle would weaken the near-term structure.
Res: 1.3365, 1.3388, 1.3400, 1.3421
Sup: 1.3331, 1.3300, 1.3290, 1.3280
GBP/USD
Yesterday’s strong rally from 1.5800 zone, where the pair found support, surged through the recent peaks just above 1.5900 that kept near-term price action limited. Close above 200 day MA and improved studies on larger timeframes, open way for test of key short-term barrier at 1.5991, 29 Feb peak, with price hitting 1.5972, 01 Mar high so far. Hourly studies are extended, with RSI entering overbought zone that may signal corrective action preceding fresh rally. Previous range ceiling at 1.5920/00 zone and 20 day EMA at 1.5890, offer good support and should contain corrective dips.
Res: 1.5972, 1.5991, 1.6000, 1.6050
Sup: 1.5922, 1.5908, 1.5890, 1.5880
USD/JPY
Bounce off last Friday’s low at 81.96, stays limited at initial resistance at 83.00, with past two days price action being entrenched within narrow range and moving sideways. Hourly and 4H studies turned neutral, while dailies are still pointing lower. Clear break above 83.00 barrier is required to confirm bottom at 81.96 and resume recovery towards next resistance at 83.50, while break below main bull trendline at 82.43 may risk retest of 81.96 and possible stronger reversal.
Res: 83.00, 83.15, 83.50, 83.74
Sup: 82.59, 82.29, 81.95, 81.86
USD/CHF
Remains at the back foot, as short-term bears off 0.9333, 15 Mar peak, finally broke below strong support at 0.9070 zone. Daily studies broke into negative territory, as the price dipped to initial support at 0.9020 so far, just ahead of psychological level at 0.9000 and key short-term support at 0.8930, 24/29 Feb double-bottom. Situation on hourly chart shows studies pointing lower off oversold zone, suggesting corrective bounce, with previous support at 0.9070, now offering strong resistance. Only break above 0.912/35, 55 day EMA / yesterday’s high, would avert immediate downside risk.
Res: 0.9065, 0.9070, 0.9075, 0.9100
Sup: 0.9020, 0.9000, 0.8950, 0.8930
Windsor Brokers - Short Term Technical Analysis for Majors (13:00 GMT)
EUR/USD
The pair is in near-term corrective reversal, after yesterday’s rally extended today to 1.3485, where gains were capped for now. Structure on hourly chart has weakened, as the price lost its bullish momentum, with break below overnight’s low at 1.3326, seeing risk of deeper correction towards strong support zone at 1.3300/1.3280 zone, also 20 day EMA on 4H chart, where the studies are holding positive tone and see scope for further extension higher and possible test of key barrier at 1.3485.
Res: 1.3384, 1.3388, 1.3400, 1.3421
Sup: 1.3318, 1.3300, 1.3290, 1.3280
GBP/USD
Strong near-term uptrend off yesterday’s higher low at 1.5800, briefly broke above key short-term barrier at 1.5991 today, reaching fresh high at 1.5997, ahead of pullback. The dip was short-lived and found footstep near daily low at 1.5941, with fresh push higher under way. Hourly studies are regaining momentum, with clearance of 1.6000 barrier required to resume short-term upleg from 1.5600 and expose 1.6090/1.6100 zone next. Only loss of strong support at 1.5900 zone would weaken the structure.
Res: 1.5997, 1.6000, 1.6050, 1.6090
Sup: 1.5942, 1.5922, 1.5908, 1.5890
USD/JPY
Hourly structure turns positive, as the near-term price action breaks above strong barrier and past two-days range ceiling at 83.00. This may signal an end of corrective phase, with regain of Fibonacci level at 83.30 and 83.50, required to confirm positive near-term structure and re-focus 84.00 zone. Recent range floor at 82.60, now offers strong support.
Res: 83.22, 83.50, 83.74, 84.00
Sup: 83.00, 82.59, 82.29, 81.95
USD/CHF
Near-term price action moves sideways and within narrow range, off today’s fresh low at 0.9015, as initial resistance at 0.9070 stays intact for now. Near-term studies remain negative, with downside favored. Loss of 0.9015/00 support to open way for test of key short-term level at 0.8930, 24/29 Feb double-bottom. Only firm break above 0.9100 handle to ease bear-pressure.
Res: 0.9065, 0.9070, 0.9075, 0.9100
Sup: 0.9015, 0.9000, 0.8950, 0.8930
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Hourly studies lost bullish momentum, after yesterday’s rally was capped at 1.3384 and subsequent easing dipped to 1.3310. Hourly 55 day EMA so far contained reversal, just ahead of more significant support zone at 1.3300/1.3280, and while holding above here, fresh attack at 1.3384/1.3400 zone remains in play, as 4H chart’s studies hold positive tone. Lift above the latter to open way towards key short-term barrier at 1.3485.
Res: 1.3346, 1.3366, 1.3384, 1.3400
Sup: 1.3310, 1.3300, 1.3290, 1.3280
GBP/USD
Reversal from yesterday’s fresh high at 1.6000, after the pair briefly broke above previous 1.5991 peak, holds above yesterday’s lows at 1.5940 for now. However, further easing is not ruled out, as hourly studies are pointing lower, with next array of strong supports seen at 1.5920/00 zone, which should contain dips, to keep near-term bulls intact for possible fresh attempt higher. Clearance of 1.6000 to open 1.6090/1.6100 next. On the downside, 200 day MA at 1.5845 underpins.
Res: 1.5963, 1.6000, 1.6050, 1.6090
Sup: 1.5922, 1.5908, 1.5890, 1.5845
USD/JPY
The price is losing traction after yesterday’s brief break above 83.00 barrier, failed to sustain gains. Hourly studies are breaking below the midlines, with first support at 82.60 coming under pressure. Break here to open way for retest of key support and breakpoint at 81.95/85 zone, break of which to spark stronger reversal and expose Fibonacci level at 81.00 next. Key near-term barrier lies at 83.38, yesterday’s high and only break here to improve near-term structure.
Res: 83.00, 83.20, 83.50, 83.74
Sup: 82.60, 82.29, 81.95, 81.85
USD/CHF
Maintains negative short-term tone off 0.9333 peak, as loss of very strong support at 0.9070 zone now open way for test of psychological level at 0.9000, ahead of key support at 0.8930. Near-term studies hold in the negative territory, with current consolidation above yesterday’s low at 0.9015, being limited by 55 day EMA and still holding below 0.9070, now reverted to resistance. Only clear break here would avert immediate downside risk and allow for stronger correction.
Res: 0.9065, 0.9070, 0.9075, 0.9100
Sup: 0.9030, 0.9015, 0.9000, 0.8950
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The pair remains supported, as yesterday’s brief test of strong support zone at 1.3300/1.3280 was followed by bounce higher. Break above overnight’s range top at 1.3330 in early hours of European session, would signal fresh strength and possible attack at upside barriers at 1.3372/84, to open way for gains above 1.3400, psychological barrier and test of key short-term target at 1.3485. Near-term studies are pointing higher, with 20 day EMA at 1.3310, underpinning the advance. Only loss of 1.3260/50, 55 day EMA / main bull trendline off 1.3000, would weaken the near-term structure.
Res: 1.3360, 1.3372, 1.3384, 1.3400
Sup: 1.3310, 1.3300, 1.3290, 1.3280
GBP/USD
Pullback from 1.6000 peak, lost important supports at 1.5920/00, to dip below 1.5857, Fib 61.8% of 1.5769/1.6000 upleg, finding support at 1.5841, 200 day MA, ahead of strong recovery. Regain of 1.5900/20, 20 day EMA / previous tops, improves near-term structure, however, sustained break here is required to sideline near-term bears and bring focus back to 1.6000, as daily studies remain positive. Above 1.5920, to focus next barriers at 1.5960/70 zone. On the downside, supports lie at 1.5900 and 1.5880, loss of which to signal return to weakness.
Res: 1.5925, 1.5940, 1.5963, 1.5972
Sup: 1.5900, 1.5880, 1.5871, 1.5841
USD/JPY
The pair’s near-term price action seems to be running out of steam, as yesterday’s repeated attempt through initial barrier at 83.00, failed under Tuesday’s recovery peak at 83.38, with subsequent weakness, losing 83.00 and more significant 82.60, Main bull trendline off 76.00 / near-term range floor. Near-term studies entered negative territory and see risk of further easing towards key near-term support and breakpoint at 81.95/85 zone, loss of which to open way for stronger pullback and expose Fibonacci level at 81.00. Immediate resistances lie at 83.00/16, while only break above 83.38 improve the near-term structure.
Res: 83.38, 83.50, 83.74, 84.00
Sup: 82.43, 82.29, 81.95, 81.85
USD/CHF
The near-term price action remains in a sideways mode, but tone is turning negative, as yesterday’ s recovery attempt failed to clearly break above strong barrier at 0.9070, previous support. Subsequent easing is now turning focus at yesterday’s low at 0.9015, below which the only obstacle on the way towards 0.8930, end-February double-bottom, lies at 0.9000, round-figure support. Overall picture remains negative and only break above 0.9135, 26 Mar high, to ease bear pressure.
Res: 0.9070, 0.9080, 0.9100, 0.9135
Sup: 0.9015, 0.9000, 0.8950, 0.8930
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Holds near-term momentum, despite overnight’s return to last Friday’s closing levels, after gap higher opening today. Regain of hourly 20 day EMA at 1.3340, turn the near-term focus towards the past couple of days range top at 1.3380 zone. Break here is required to resume short-term bulls off 1.3000 base, with lift above 1.3400 barrier to open 1.3434, 0% retracement of med-term 1.4246/1.3000 descend and key resistance at 1.3485, end of Feb double-top. Daily studies remain supportive, as the pair’s weekly close above broken main bear-trendline, sees potential for further gains. Overnight’s low at 1.3330 offers initial support, along with hourly 55 day EMA, ahead of next one at 1.3300 zone, where last Friday’s lows lie, along with main bull trendline, drawn off 1.3000 base. Only loss of higher platform and near-term range floor at 1.3250 zone, would weaken the structure.
Res: 1.3375, 1.3384, 1.3400, 1.3434
Sup: 1.3330, 1.3308, 1.3290, 1.3280
GBP/USD
Holds steady after last Friday’s attempt above 1.6000 barrier that peaked at 1.6036 and subsequent pullback being contained at previous support at 1.5980 zone. Improving hourly structure and fresh rally through 1.6000, looks for retest of 1.6036, above which to signal an end of near-term consolidation and open initial targets at 1.6090/1.6100, ahead of more significant levels at 1.6130 and 1.6164, 31 Oct 2011 high / Fib 61.8% of broader 1.6745/1.5233 downleg. Strong support at 1.6000/1.5970 zone is expected to hold the downside, while only break below 1.5920/00 would delay bulls.
Res: 1.6050, 1.6090, 1.6100, 1.6130
Sup: 1.6000, 1.5980, 1.5965, 1.5950
USD/JPY
The pair recovers recent losses, after brief break below key short-term support zone at 82.95/85, bottomed 81.82 last Friday and subsequent bounce, along with gap higher today’s opening, regain important barrier at 83.00, hitting 83.29 high. Reversal from here needs to hold above 55 day EMA at 82.75, to keep the near-term structure intact for possible fresh attempt higher and retest of key near-term barriers at 83.30/38, above which to confirm bottom at 81.82 and avert immediate risk of further easing. However, studies on the daily chart remain negative and see risk of fresh weakness, especially if 83.38 stays intact. Break below 81.82, last Friday’s low, to expose Fib 38.2% at 81.05.
Res: 83.30, 83.38, 83.82, 84.00
Sup: 82.82, 82.75, 82.50, 82.00
USD/CHF
The downside remains in pressure, as fresh weakness seen overnight and gap lower opening, tested our next downside target at 0.9000. brief bounce higher is so far seen corrective, as hourly studies hold below their midlines and initial barrier at 0.9043, stays intact. Situation on daily chart shows fresh bearish momentum developing, as the price broke below trendline support at 0.9020, with 0.9000 being already dented. This may open way for extension towards 0.8958, Fib 61.8% of larger 0.8566/0.9593 ascend, ahead of key short-term support at 0.8930. Only break above last Thursday’s high at 0.9091 would delay bears.
Res: 0.9030, 0.9043, 0.9070, 0.9091
Sup: 0.9015, 0.9000, 0.8950, 0.8930
Windsor Brokers - Short Term Technical Analysis for Majors (13:00 GMT)
EUR/USD
The near-term range ceiling at 1.3380 zone stays intact for now, as today’s renewed attempt higher, failed t break higher, stalling at 1.3380. Subsequent weakness brings last Friday’s low / trendline support at 1.3300 in focus. Break here would weaken the structure in favor of extension towards next array of supports at 1.3280/50 zone, with loss of the latter to signal near-term top and sideline bulls. Hourly and 4H studies are pointing lower and keep the downside vulnerable.
Res: 1.3330, 1.3375, 1.3384, 1.3400
Sup: 1.3300, 1.3290, 1.3280, 1.3250
GBP/USD
Short-term bulls extended gains today and post fresh yearly high at 1.6061. Sharp reversal from here was triggered on overbought hourly studies and MACD bearish divergence, shown on 1 and4H charts. Break below initial support at 1.6036, previous high and attempt through 1.6000, would weaken the near-term structure in case 1.6000 support gives way for extension towards 1.5980/65, next support zone. Larger timeframe’s structure remains positive and only loss of 1.5920//00 would sideline bulls and open way for fresh weakness.
Res: 1.6025, 1.6036, 1.6050, 1.6061
Sup: 1.5980, 1.5965, 1.5950, 1.5900
USD/JPY
Remains under pressure, as reversal off today’s high at 83.30, just ahead of strong barrier at 83.38, where gains stalled. Loss of 83.00 handle and 55 day EMA at 82.75, triggered fresh extension lower, with 82.00 zone coming under pressure, as hourly studies are breaking below the midlines that may risk retest of key near-term support and breakpoint at 81.95/85, loss of which to spark further retracement of two-month rally of 76.00/84.17.
Res: 82.50, 83.00, 83.30, 83.38
Sup: 82.00, 81.96, 81.85, 81.50
USD/CHF
Bounce off today’s low at 0.9000 is seen corrective, as overall picture remain negative. However, some improvement is seen on hourly chart, with clearance of the first barriers at 0.9090/0.9100 needed to ease immediate bear-pressure and allow for further correction, otherwise, risk is seen of lower top, before bears take control. Break below 0.9000 to expose key short-term support at 0.8930, end of Feb double-bottom.
Res: 0.9091, 0.9100, 0.9135, 0.9177
Sup: 0.9043, 0.9025, 0.9015, 0.9000
Windsor Brokers - Short Term Technical Analysis for Majors (13:00 GMT)
EUR/USD
The near-term structure weakens again, as today’s attempt towards key barrier at 1.3380 zone, failed at 1.3366 and subsequent weakness pushed the price through trendline support at 1.3330, to test the top of strong support zone at 1.3300/1.3280 so far. This pushes hourly studies towards the negative territory, with similar situation on 4H chart, where indicators are pointing lower. Unless today’s high at 1.3366 is regained, near-term outlook remains in a neutral/negative mode, with risk of losing 1.3300/1.3280 handles for extension towards next significant support and near-term range floor at 1.3250, below which to possibly signal near-term top.
Res: 1.3324, 1.3354, 1.3366, 1.3384
Sup: 1.3300, 1.3277, 1.3265, 1.3250
GBP/USD
The pair comes under increased pressure after failing to regain 1.6061, yesterday’s fresh high. Reversal under 1.6000 support, also dented the next support zone at 1.5980/60, also Fib 38.2% of 1.5841/1.6061 upleg. With hourly studies losing momentum, near-term outlook remains aligned towards the downside, with break below 1.5930/25, 5 day EMA / Fib 61.8%, required to sideline short-term bulls. Larger picture, however, maintains bullish tone, as 200 day MA at 1.5850, underpins the price action, with initial target at 1.6100 still in focus.
Res: 1.5991, 1.6000, 1.6045, 1.6061
Sup: 1.5965, 1.5950, 1.5925, 1.5900
USD/JPY
The near-term recovery attempt off yesterday’s low at 81.54 holds around initial barrier at 82.20 for now, with regain of momentum seen on hourly chart that may spark further correction towards next significant barrier at 82.60. Negative tone on 4H and daily charts, however, sees no much potential for stronger recovery. While the key near-term resistances at 83.00/30 stay intact, risk exists for further correction and test of 81.05, Fib 38.2% of 79.00/84.17.
Res: 82.22, 82.50, 82.60, 83.00
Sup: 82.00, 81.82, 81.50, 81.05
USD/CHF
Near-term price action remains in a choppy range trade, during the past couple of days, as 0.9000 holds the downside and upside attempts stay capped at 0.9069. Hourly studies are neutral, but structure on 4H chart is more negative and sees the current consolidation preceding fresh weakness and attack at key support at 0.8930, as long as 0.9100 zone caps the upside. Negative tone dominates also on the daily chart, after the pair broke below bull trendline drawn off 0.8930.
Res: 0.9046, 0.9069, 0.9091, 0.9100
Sup: 0.9012, 0.9000, 0.8958, 0.8930