Windsor Brokers - Short Term Technical Analysis for Majors (07:50 GMT)

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EUR/USD

Two day bear flag is now setting up next leg lower through 1.1823, towards a key 2005 low at 1.1640. Potential break here would look for 1.1300 next. Momentum supports/confirms negative structure. Any upside attempts for now seen capped by 1.1987/1.2010.

Res: 1.1990, 1.2010, 1.2021, 1.2045
Sup: 1.1901, 1.1876, 1.1823, 1.1800




GBP/USD

Last weeks break lower out of a rising trend channel still dominates, with a break back over 1.4530 required to strengthen outlook in the short-term. Downside, loss of 1.4230 may trigger a daily bearish continuation set up.

Res: 1.4528, 1.4561, 1.4588, 1.4605
Sup: 1.4387, 1.4344, 1.4329, 1.4260




USD/JPY

Minor lower top at 92.07 caps ahead of latest drift lower. Further weakness is seen heading towards 5-week triangle support at 90.36, where a swing low may emerge. Regaining 92.07 delays and firms for 92.87.

Res: 91.68, 92.07, 92.20, 92.49
Sup: 91.05, 90.96, 90.83, 90.53




USD/CHF

Trading approximately mid point of a marginally corrective channel off 1.1730, 2010 high, posted 01 Jun. Current phase lower off 1.1672 found support at 1.1484 yesterday. Dips are seen limited by 1.1467/49, ahead of fresh push higher, and break above 1.1640 to open way for gains towards 1.1730.

Res: 1.1587, 1.1622, 1.1640, 1.1672
Sup: 1.1484, 1.1467, 1.1449, 1.1417