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

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EUR/USD

Correction from 1.3201, 23 Apr low, stalled at 1.3412 yesterday, just ahead of key 1.3422 resistance. Retracement of the latest upleg has been completed today, with break under 1.3201/1.3190, now looking for fresh weakness towards1.3120, possibly 1.2964 on a break. 1.3263 offers initial resistance.

Res: 1.3263, 1.3290, 1.3342, 1.3412
Sup: 1.3143, 1.3120, 1.3090, 1.2963




GBP/USD

Yesterday's break under 1.5330, trendline support, drawn off 1.4797, 25 Mar low, has pushed back below 1.5294, negating the potential of a double bottom. Losses so far reached 1.5206, just ahead of key 1.5190, 19 Apr low. Break there is needed to re-focus return to 1.4797/1.4780. Upside, 1.5351 expected to cap corrective attempt.

Res: 1.5473, 1.5497, 1.5508, 1.5520
Sup: 1.5190, 1.5128, 1.5042, 1.5004




USD/JPY

Has fallen through 93.29, last Friday's low, to highlight recent 3-legged upswings from 91.58, with immediate risk set at 92.72/56. A swing low, however, remains sought over key 91.60, ahead of return to 94.35/77. Eventual break here to extend short term uptrend.

Res: 93.37, 93.71, 94.02, 94.35
Sup: 92.80, 92.72, 92.56, 92.38




USD/CHF

Yesterday