Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)

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EUR/USD

Corrective rally from 1.3266, 25 Mar low, broke through important 1.3433/60/74 resistances, extending gains to 1.3489 overnight, just above 38.2% retracement of 1.3816/1.3266 downleg. 1.3540/70 now seen as key resistance. Loss of 1.3345 weakens recovery phase for 1.3267 and below.

Res: 1.3489, 1.3540, 1.3570, 1.3600
Sup: 1.3415, 1.3380, 1.3345, 1.3322




GBP/USD

Extends bounce off 1.4797, 25 Mar low, currently attempting at 1.5003, 25 Mar peak, ahead of 1.5011, trendline resistance. Further, 1.5087, 50% retracement of 1.5380/1.4797 descend and 1.5111, 23 Mar high, offer resistance. However, lower top under 1.5380 would resume broader downtrend and expose 1.4797 first.

Res: 1.5003, 1.5018, 1.5087, 1.5111
Sup: 1.4878, 1.4845, 1.4824, 1.4797




USD/JPY

Break through 91.74, two years falling trendline and 92.13, previous high, now focuses 93.09/75, 50% retracement of the broader 101.43/84.80 downmove. 92.29/91.75 zone offers immediate support.

Res: 92.94, 93.09, 93.39, 93.75
Sup: 92.29, 92.13, 91.75, 91.50




USD/CHF

Reversal 1.0749, 25 Mar high, spiked lower at 1.0575 overnight, ahead of bounce to 1.0688. Fresh decline is now under way targeting 1.0575 but only break below key 1.0545 to trigger near-term weakness. Only clearance of 1.0688/1.0702 would firm for 1.0749 and higher.

Res: 1.0688, 1.0702, 1.0722, 1.0749
Sup: 1.0579, 1.0575, 1.0545, 1.0505