Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)

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EURUSD

The Euro remains directionless in the near-term, with price action holding within 100-pips range. Near-term basing attempt appears on repeated downside rejection at 1.3748, which proves to be solid support and subsequent strong bounce above 1.38 barrier that keeps the downside intact for now. However, regain of initial 1.3846 and more significant 1.3867 barrier, 24 Mar peak, is required to confirm near-term base and higher low of larger uptrend from 1.3475 and shift focus towards psychological 1.3900 barrier, 1.3940 lower platform and key 1.3965 resistance, peak of 13 Mar. Hourly studies are neutral, while mixed 4-hour tone requires improvement on a break above 1.3833, 55SMA and 1.3846, yesterday