Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 61
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 (08:45 GMT)
EUR/USD
The single currency extends its near-term weakness off 1.3282, yesterday’s high, where short-term rally was limited, just ahead of key barrier at 1.3290/1.3300. Brief consolidation above initial support at 1.3200, was short-lived, as more negative data from Eurozone, increased pressure on that pair. Near-term studies weakened further, as the price broke below 1.3200/1.3172 supports, with immediate focus at 1.3157, 27 Apr low and 1.3138, 50% retracement of 1.2993/1.3282 upleg, ahead of more significant support at 1.3100, 23 Apr low / Fib 61.8%. Previous support at 1.3200, now reverts to initial resistance.
Res: 1.3200, 1.3232, 1.3243, 1.3269
Sup: 1.3157, 1.3138, 1.3123, 1.3100
GBP/USD
Commences the third leg of reversal from 1.6300, 30 Apr fresh 8-month high, after initial attempt to create base at 1.6200 zone failed and recovery attempt being capped at 1.6240 zone. Fresh weakness tests lower levels of 1.6200/1.6185 support zone, with break here to expose next support, at 1.6152, 27 Apr low / 55 day EMA and Fibonacci 38.2%level at 1.6115. Negative tone on near-term studies keeps the downside favored for now and only lift above 1.6250 would improve and avert immediate downside risk. Daily studies, close to extreme points, see risk of stronger reversal.
Res: 1.6234, 1.6250, 1.6300, 1.6350
Sup: 1.6185, 1.6152, 1.6115, 1.6100
USD/JPY
Yesterday’s bounce off 79.63 fresh 6-month low and 90 day MA, averted immediate downside risk and improved the near-term structure, as price broke above initial barriers at 80.00 and 80.28. However, this is still seen as corrective movement, as larger picture remains firmly bearish. While the price holds below next strong barriers, round figure resistance at 81.00 and main bear-trendline off 84.08 high, at 81.15, risk of further retracement of 76.00/84.17 rally still exists
Res: 80.65, 80.85, 81.00, 81.20
Sup: 80.25, 80.00, 79.63, 79.52
USD/CHF
The pair remains in a near-term bullish mode, as fresh rally off 0.9070 zone, overnight’s lows and consolidation floor, surged through initial barrier at 0.9100. Gains have so far retraced 38.2% of 0.9250/0.9041 descend, testing breakpoint zone at 0.9120/30, also daily triangle resistance, clearance of which to signal stronger recovery and expose 0.9170, 23 Apr high / Fib 61.8%. Positive tone on near-term studies, sees the pair near-term price action supported, however, overextended conditions on hourly chart, suggest a pause in recent strong gains.
Res: 0.9130, 0.9145, 0.9170, 0.9200
Sup: 0.9100, 0.9072, 0.9050, 0.9041
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Failure to reclaim key barrier at 1.3300 has resulted in steep decline that so far retraced over 50% of 1.2993/1.3282 upleg. Temporary support was found at 1.3120, 90 day MA, with subsequent recovery attempt so far unable to clear the initial barrier at 1.3160, increasing risk of test of strong support zone at 1.3100, 23 Apr low / Fib 61.8% and possible extension lower, as near-term studies remain negative. Break below 1.3100 to open 1.3060 and 1.3032 static supports. On the upside, yesterday’s intraday high and recovery top, offers initial resistance, while 1.3200 zone, 01 May low / 20/55 day EMA crossover, is expected to cap.
Res: 1.3157, 1.3166, 1.3200, 1.3232
Sup: 1.3121, 1.3100, 1.3068, 1.3056
GBP/USD
Remains under pressure, after losing initial support at 1.6200, with recovery attempt of 1.6159, yesterday’s fresh low, being capped at 1.6200, now acting as initial resistance, along with bear trendline connecting 1.6300 and 1.6237 peaks. Negative tone continues to dominate on short-term studies, with break below initial support at 1.6159, also 55 day EMA, to open way for further retracement and expose Fib 38.2% at 1.6115, ahead of figure support at 1.6100 and key short-term support and pivotal point at 1.6080/60 area. Bears remain intact as long as 1.6200 trendline resistance and 20 day EMA limit the upside, while only regain of 1.6250 would turn near-term focus higher.
Res: 1.6200, 1.6237, 1.6250, 1.6300
Sup: 1.6159, 1.6115, 1.6100, 1.6080
USD/JPY
Near-term recovery off fresh low at 79.63, seems to be running out of steam, as gains were limited at initial resistance at 80.60. Dips are holding above 80.00 for now, however, weakening hourly studies, see risk of fresh weakness, unless initial barrier at 80.60, also 55 day EMA is cleared, with regain of minimum 81.00, required to confirm recovery. Daily structure holds bearish tone and sees potential for further retracement of 76.00/84.17 ascend.
Res: 80.60, 80.85, 81.00, 81.20
Sup: 80.00, 79.63, 79.52, 79.00
USD/CHF
Extension of near-term recovery from 0.9041, 01 May low, broke above initial barrier at 0.9100, also triangle resistance to retrace over 50% of 0.9250/0.9041 downleg so far. With the recent corrective pullback being held above 0.9100 and positive near-term studies, further recovery towards 0.9170, Fib 61.8% and possible regain of next hurdle at 0.9200, break of which is required to re-focus 0.9250 peak. On the downside, loss of 0.9120/00 would be bearish.
Res: 0.9145, 0.9155, 0.9170, 0.9200
Sup: 0.9120, 0.9100, 0.9072, 0.9050
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The pair extends the last week’s weakness off 1.3282 high, with break below initial support at 1.3100, seen last Friday and overnight’s gap lower opening. Test of lower boundary of very strong support zone at 1.3000/1.2950, Mar/Apr lows / Fib 61.8% of 1.2622/1.3485 ascend, weakens the larger picture’s structure, with clear break below 1.2950, expected to accelerate losses towards 1.2900, figure support and 1.2875, 09 Jan 2011 / 23 Jan 2012 lows. Overextended short-term studies see potential for bounce higher, with initial barriers at 1.3030 and 1.3080, with 1.3155, 55 day EMA and double-top at 1.3180, capping the upside.
Res: 1.3030, 1.3080, 1.3100, 1.3155
Sup: 1.2952, 1.2930, 1.2900, 1.2875
GBP/USD
Cable dipped to 1.6115, Fib 38.2% of 1.5817/1.6300 upleg, after losing last week’s range floor and 55 day EMA at 1.6160. Negative tone continues to dominate on short-term studies, with indicators on daily chart starting to point lower that increases risk of further weakness. Critical support and pivot point lies at 1.6080/1.6060 zone, with break here expected to accelerate losses. Bounce on extended hourly conditions is so far seen corrective, with previous support at 1.6160, now acting as initial resistance. Only clear break above 1.6200 handle would ease bear pressure.
Res: 1.6160, 1.6200, 1.6214, 1.6237
Sup: 1.6113, 1.6100, 1.6080, 1.6060
USD/JPY
Short-term outlook remains negative, as the pair fully retraced recent 79.63/80.60 rally. While holding below strong barrier at 80.00, last week’s range floor and daily Ichimoku cloud base, immediate focus lies at 79.63/52, below which opens round figure support and 01 Nov 2011 high at 79.00, also near Fib 61.8% of 76.00/84.17 rally. Only lift above 80.60, 02/03 May peaks / main bear trendline off 84.08, would provide near-term relief.
Res: 80.00, 80.10, 80.39, 80.60
Sup: 79.71, 79.63, 79.52, 79.13
USD/CHF
Extension of last week’s recovery action from 0.9041 low, with today’s gap higher opening, has resulted in break above key short-term barrier at 0.9250. This keeps the downside protected for now and turns short-term focus higher, towards next very strong resistance zone and short-term range top at 0.9300/30. Indicators on a daily chart are emerging above their midlines, while overextended short-term studies are looking for corrective pullback. Initial support at 0.9200 and last week’s closing level at 0.9180, are expected to contain dips and keep short-term bulls intact. Only loss of 55 day EMA at 0.9130 and last week’s higher platform at 0.9113, would be bearish.
Res: 0.9250, 0.9269, 0.9300, 0.9330
Sup: 0.9213, 0.9200, 0.9180, 0.9130
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Upside rejection at 1.3060 zone and quick reversal under 1.3000 handle, confirms the pair being under heavy pressure. Overnight’s easing touched levels just few ticks ahead our initial target and strong support at 1.2953, with negative sentiment setting scope for fresh bear phase. Break below 1.2953 to expose 1.2900 and 1.2875. Potential corrective attempts should be capped at 1.3040/60 are and only clearance of 1.3100 would provide near-term relief.
Res: 1.3000, 1.3040, 1.3063, 1.3080
Sup: 1.2964, 1.2953, 1.2930, 1.2900
GBP/USD
Near-term attempts to base above recent low and Fibonacci support at 1.6113, remains in play, however, still weak near-term studies, keep the immediate focus at the downside, as daily studies started to point lower. Break below 1.6120/00 support zone to open pivotal area at 1.6080/60, for test. Yesterday’s intraday high at 1.6168 offers initial resistance, while only lift above 1.6200 would put short-term bears on hold.
Res: 1.6168, 1.6182, 1.6200, 1.6214
Sup: 1.6123, 1.6113, 1.6100, 1.6080
USD/JPY
Near-term sideways movements keep strong support at 79.63/52 intact for now, but still negative tone on lower timeframes, sees potential of break lower. Firm bear-trend on daily chart, keeps the downside favored, as long as initial resistance at 80.00 and strong barrier at 80.50/60 zone, bear-trendline / 02/03 May highs, limit the upside.
Res: 80.10, 80.39, 80.60, 81.00
Sup: 79.69, 79.63, 79.52, 79.13
USD/CHF
Near-term structure remains positive, as the pair approaches key near-term barrier at 0.9269, break of which is required to resume short-term recovery and expose significant resistances at 0.9300 and 0.9330. However, overextended conditions on 4H chart studies, may signal further corrective action. Key near-term supports lie at 0.9200/0.9180 zone and while holding above here, upside will remain in focus.
Res: 0.9261, 0.9269, 0.9300, 0.9330
Sup: 0.9208, 0.9193, 0.9180, 0.9130
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Extension below 1.2900 support that was lost yesterday, posted fresh 5-month low at 1.2813, overnight, just ahead of figure support at 1.2800. Negative structure sees potential for further weakness, with yearly low at 1.2622 now coming in focus. Any bounce higher, as hourly studies are in oversold territory, is for now seen as corrective, with strong barrier at 1.2900, previous low / 20 day EMA, while only lift above 1.2955/80 would delay bears.
Res: 1.2860, 1.2880, 1.2900, 1.2955
Sup: 1.2813, 1.2800, 1.2762, 1.2700
GBP/USD
Maintains near-term corrective tone off 1.6050, yesterday’s low, with brief break above 1.6100 handle and 1.6080 zone holding the downside for now. Clearance of 1.6130 zone, yesterday’s high / 55 day EMA / Fib 61.8% of 1.6181/1.6050 downleg is required to confirm near-term base at 1.6050 and open way for stronger retracement. On the downside, penetration of 1.6000 would signal an extension of short-term downtrend off 1.6300.
Res: 1.6122, 1.6130, 1.6181, 1.6200
Sup: 1.6084, 1.6050, 1.6000, 1.5984
USD/JPY
Brief penetration of 80.00 barrier also daily Ichimoku cloud base and quick reversal, keeps the upside limited for now. However, near-term price action remains supported at 79.80, with prospect for fresh strength still in play, as hourly studies started to point higher. Clearance of yesterday’s high / trendline resistance at 80.17/14 and Fibonacci 38.2% barrier at 80.32 is required to confirm further recovery. Otherwise, fresh attempt lower, as part of broader downtrend from 84.17, would be the likely scenario, as larger picture remains bearish.
Res: 79.92, 80.00, 80.17, 80.30
Sup: 79.80, 79.67, 79.42, 79.13
USD/CHF
Yesterday’s clearance of strong barrier at 0.9330, has so far reached 0.9371 high, en-route to initial target at 0.9400, with key med-term barriers above 0.9500, coming in focus. Overall positive structure keeps the upside favored, with corrective action on overextended near-term studies under way. Initial support at 0.9330is under pressure, with further reversal expected to find ground at 0.9300 zone, previous high / Fib 38.2% of 0.9193/0.9371 upleg, to keep bulls intact.
Res: 0.9371, 0.9388, 0.9400, 0.9450
Sup: 0.9330, 0.9300, 0.9269, 0.9250
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The single currency spirals lower after yesterday’s break below 1.2800 handle and longer-term bull trendline at 1.2770 and today’s loss of the last obstacle at 1.2700, towards 1.2622, January’s yearly low. Negative sentiment keeps the pair under heavy pressure and despite short-term studies being at their extreme levels, the price action continues to increase the pace of descending. Break below 1.2622 to open 1.2586 Aug 2010 low next, with 1.2000/zone expected to come in short-term focus. Initial resistance lies at 1.2720, with more significant barriers at 1.2800/15 and 1.2868.
Res: 1.2700, 1.2720, 1.2800, 1.2815
Sup: 1.2622, 1.2586, 1.2550, 1.2500
GBP/USD
The pair accelerated losses after losing key supports at 1.6050 and 1.6000, with break below 55 day MA at 1.5959, looking for test of round figure support at 1.5900 and possible extension towards 1.5850, Fib 38.2% of larger 1.5233/1.6300 ascend. Loss of bullish momentum on daily studies sees risk of further weakness, with test of 200 day MA at 1.5828 and strong support and higher platform at 1.5800, seen on a break below 1.5900. Near-term studies are overextend, yet no firm signals of any corrective action. Previous supports at 1.6000/50 are now reverted to initial barriers.
Res: 1.5971, 1.6000, 1.6050, 1.6065
Sup: 1.5947, 1.5900, 1.5852, 1.5900
USD/JPY
Clearance of strong resistance zone at 80.00, where 90 day MA and main bear trendline off 84.08, were limiting recent upside attempt, has so far extended gains to 80.43. Positive near-term sentiment keeps the upside in focus, with next target at 80.60, 02 may high / Fib 38.2% of 81.77/79.42 downleg. Break here is required to confirm base at 79.42 and allow for stronger recovery, with 80.90/81.00 to come in focus. Broken 90 day MA, now underpins the rally, along with 20/55 day EMA’s crossover at 80.00.
Res: 80.43, 80.60, 80.90, 81.00
Sup: 80.32, 80.15, 80.00, 79.67
USD/CHF
Accelerates gains after clearance of strong barriers at 0.9330 and 0.9400, with yearly high at 0.9593, posted in mid January, now coming in focus. No significant obstacles seen on a way towards 0.9593, with positive but extremely overextended near-term studies, underpinning the advance and not showing any signs of fatigue for now. Initial support lies at 0.9400, ahead of 0.9360 zone, Fibonacci support / 20 day EMA. On the upside, figure resistance comes first at 0.9500, ahead of 0.9545, 15 Dec 2011 high and 0.9593, 13 Jan 2012 peak.
Res: 0.9468, 0.9500, 0.9545, 0.9593
Sup: 0.9429, 0.9400, 0.9360, 0.9330
Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Continues near-term consolidation off 1.2681, yesterday’s low, with 1.2750 zone, Fib 23.6% of 1.2980/1.2681 downleg, capping for now. Near-term price action found footstep at 1.2700 zone and improving hourly studies, seeing potential for further corrective action, with break above yesterday’s high at 1.2757, required to resume higher and expose 1.2800 zone, Fib 38.2% and 15 May lows, next. Larger timeframes outlook, however, remains negative, but oversold daily conditions may be supportive for stronger correction, before test of yearly low at 1.2622.
Res: 1.2757, 1.2790, 1.2800, 1.2815
Sup: 1.2700, 1.2681, 1.2622, 1.2600
GBP/USD
Brief corrective/consolidative action that followed past three-day’s slide from 1.6100 zone, showed not much of recovery, as gains above 1.5900 handle were capped at 1.5953, near Fib 23.6% of 1.6112/1.5889 descend. Overnight’s price action was limited at 1.5930, with attack at 1.5900, increasing risk of fresh weakness. Main near-term targets lie at 1.5826/00, 200 day MA / beginning of Apr higher platform. Only regain of 1.6000/30 zone would ease bear pressure.
Res: 1.5931, 1.5953, 1.5974, 1.6000
Sup: 1.5889, 1.5852, 1.5827, 1.5800
USD/JPY
The pair holds above 80.00 support, with reversal off yesterday’s fresh high at 80.54 seen as corrective for now. Strong support zone at 80.00, where 90 day MA / broken bear trendline off 84.08 and Ichimoku cloud base stand, needs to hold, with clearance of 80.60, 02 May high and 50% retracement, required to resume short-term recovery off 79.42 and bring the price in the more safe zone. Otherwise, loss of 80.00 handle would risk return to 79.42 and possible resumption of broader downtrend off 84.17, yearly high.
Res: 80.54, 80.60, 80.90, 81.00
Sup: 80.27, 80.15, 80.00, 79.67
USD/CHF
Corrective pullback from 0.9469, yesterday’s fresh high, where recent strong gains were capped, en-route to 0.9500, is attempting to base above 0.9400, as near-term price action finds footstep at 0.9415 zone. Rather weak hourly studies, however, do not rule out further reversal, but more positive tone seen on 4-H chart, keeps the near-term focus at the upside. Below 0.9400, Fibonacci support at 0.9368 comes next, while only loss of key supports at 0.9330 and 0.9300 would weaken short-term structure and sideline bulls.
Res: 0.9453, 0.9469, 0.9500, 0.9545
Sup: 0.9412, 0.9400, 0.9360, 0.9330
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Extends the near-term recovery above initial barriers at 1.2750 zone, after temporary footstep was found at 1.2640, last Friday. Bounce from here briefly broke above 1.2800 barrier, also Fib 23.6%, where descending trendline, connecting 1.3282/1.3177 tops, limited gains at 1.2811, with corrective easing on overbought hourly studies under way. Dips need to be contained at 1.2760/40 zone, to maintain positive near-term tone for possible fresh attack at upper barriers. Lift above 1.2800, to face significant resistances at 1.2886, Fib 38.2% and 1.2900 zone, clearance of which to confirm near-term base and open way for stronger retracement of 1.3282/1.2641 downleg, with 1.2950/80 seen next. On the downside, loss f 1.2740 and psychological support at 1.2700, would turn focus lowercase larger timeframes outlook remains negative.
Res: 1.2800, 1.2811, 1.2868, 1.2886
Sup: 1.2757, 1.2748, 1.2736, 1.2713
GBP/USD
Undergoes near-term corrective action, after finding ground at 1.5731, fresh 2-month low, posted last Friday. Bounce above 1.5800 has so far been capped by daily 200 day MA, daily Ichimoku cloud base and hourly 55 day EMA at 1.5830 zone. With hourly indicators starting to point lower and 4H chart ones still in the negative territory, there is not much to expect from the current rally, However, sustained break above 200 day MA, with regain of 1.5877, Fib 38.2% of 1.6112/1.5731 downleg and 1.5900, psychological barrier, would bring more optimism in the near-term outlook. On the downside, loss of 1.5731 and 1.5700 support would risk further extension of broader downtrend from 1.6300 and expose 1.5640, mid February lows and Fib 61.8% of 1.5233/1.6300 ascend.
Res: 1.5841, 1.5877, 1.5889, 1.5900
Sup: 1.5800, 1.5780, 1.5731, 1.5700
USD/JPY
Last week’s steep decline through strong psychological support at 80.00 and previous low at 79.42, so far tested our next target at 79.00, also near Fib 61.8% of 76.00/84.17 upleg. Temporary support was found here and the pair is attempting to base for some stronger recovery action. However, studies on both, lower and larger timeframes remain in the negative territory that increases risk of fresh weakness, with regain of initial resistance at 79.45 and more significant one at 80.00, required to improve near-term structure and open way for possible stronger correction. Otherwise, retest of 79.00 and extension towards our next downside target at 78.30 zone, would be the likely short-term scenario.
Res: 79.45, 79.60, 79.77, 80.00
Sup: 79.10, 79.00, 78.50, 78.30
USD/CHF
The pair trades in a near-term corrective mode, after testing our upside target at 0.9500, where gains were limited for now. Dips need to be contained above 0.9324, Fib 38.2% of 0.9041/0.9500 ascend and more significant 0.9300 support, to keep short-term bullish structure off 0.9041 intact, for possible extension above 0.9500 and test of our next targets at 0.9545 and yearly high at 0.9593. Only loss of 0.9300 would weaken the near-term structure and allow for stronger reversal.
Res: 0.9420, 0.9444, 0.9480, 0.9500
Sup: 0.9373, 0.9330, 0.9324, 0.9300
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Maintains near-term positive tone off last Friday’s low at 1.2641, as yesterday’s dip was contained above important 1.2700 level. Fresh gains above 1.2800 and previous high at 1.2811, see potential for further retracement and test of strong resistance zone at 1.2900/15, with break above initial dynamic barrier of 55 day EMA at 1.2830 required. However, overall bearish tone still keeps the downside vulnerable. Immediate supports lie at 1.2780, overnight’s low and 1.2770, trendline support, while loss of 1.2724, yesterday’s low, would weaken the near-term structure.
Res: 1.2780, 1.2800, 1.2811, 1.2868
Sup: 1.2781, 1.2750, 1.2724, 1.2700
GBP/USD
The near-term price action moves in a sideways mode, trading within narrow 1.5780/1.5840 range, with no much prospect seen for stronger recovery. Hourly studies are neutral, while 4H chart indicators pointing higher, but still in the negative territory. Daily studies hold bearish tone, as the pair remains limited at 200 day MA and Ichimoku cloud base. Break below initial support at 1.5780 to signal fresh weakness and possible return to 1.5731, ahead of more significant 1.5700 support. On the upside, only regain of 1.5900 and 1.5950, Fib 38.2% of 1.6300.1.5731, would improve current picture.
Res: 1.5840, 1.5865, 1.5889, 1.5900
Sup: 1.5800, 1.5780, 1.5731, 1.5700
USD/JPY
The pair is attempting above past two days consolidation range that followed last week’s sharp slide to 79.00. Trendline resistance at 79.80 comes as first barrier, with regain of strong resistance at 80.00, also Fib 61.8% of 80.54/79.00 downleg, required to confirm near-term base. Hourly studies remain supportive, however, negative structure on a daily chart keeps the downside pressure and unless key barrier at 80.60 is cleared, current action would be seen as corrective and preceding fresh weakness. Strong support lies at 79.00, ahead of 200 day MA at 78.50.
Res: 79.60, 79.80, 80.00, 80.54
Sup: 79.23, 79.00, 78.50, 78.30
USD/CHF
Extends the near-term corrective pullback off 0.9500, last Friday’s peak that was triggered by overbought short-term studies. The pair has so far reached 0.9360 zone, where 55 day EMA offers support, however, weak hourly studies see potential for further easing and test of important supports at 0.9324, Fib 38.2% of 0.9041/0.9500 and psychological 0.9300 level. As larger picture keeps bulls still in play, reversal at/above 0.9300 would be ideal for resumption of short-term uptrend, with clearance of 0.9500 to open 0.9545 and yearly peak at 0.9593. Loss of 0.9300 would delay.
Res: 0.9394, 0.9420, 0.9444, 0.9480
Sup: 0.9366, 0.9330, 0.9324, 0.9300
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The pair comes under increased pressure after recovery attempt stalled just above 1.2800 and renewed risk-off sentiment pushed the price lower to fully retrace recent 1.2641/1.2823 corrective leg. Negative studies keep our short-term target at 1.2622 in focus, with consolidative/corrective action above 1.2641, seen on overextended hourly studies. Immediate resistance lies at 1.2680/1.2900 zone, while only lift above 1.2730/50 would provide near-term relief.
Res: 1.2780, 1.2800, 1.2811, 1.2823
Sup: 1.2657, 1.2641, 1.2622, 1.2622
GBP/USD
Cable flirts with recent low at 1.5731, as mild corrective attempt didn’t show much of action and gains being capped at 1.5840. Reversal to the lows, along with negative short and longer-term studies and yesterday’s close below 200 day MA, sees risk of further extension of short-term downtrend from 1.6300, with 1.5700, psychological support, seen next, ahead of strong one at 1.5640, mid-Feb range lows / Fib 61.8%. Initial resistances lie at 1.5800 and 1.5840, ahead of 1.5900, 55 day EMA.
Res: 1.5800, 1.5821, 1.5847, 1.5865
Sup: 1.5740, 1.5731, 1.5700, 1.5640
USD/JPY
Strong rally through important barrier at 80.00, failed to sustain gains, as corrective action stalled at 80.13, just ahead of 90 day MA, with subsequent sharp reversal, reducing chances of fresh recovery. Near-term support was found at 79.44, previous strong resistance and Fib 61.8% of 79.00/80.13 upleg, with loss of momentum on hourly studies, increasing risk of revisiting 79.00 zone. Only regain of 80.00 zone would revive bulls.
Res: 79.64, 79.85, 80.00, 80.54
Sup: 79.44, 79.23, 79.00, 78.50
USD/CHF
Renewed strength off last Monday’s 0.9366 higher low, regained 0.9500 barrier and kept overall bullish sentiment intact for fresh gains towards 0.9545 and key short-term barrier at 0.9593, 2012 high. Corrective action on overbought hourly conditions, holds above Fib 23.6% at 0.9465 for now, with potential further easing expected to find ground above 0.9450/40 zone. Only loss of 0.9416/00 would sideline short-term bulls.
Res: 0.9485, 0.9500, 0.9545, 0.9593
Sup: 0.9465, 0.9450, 0.9440, 0.9412