Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

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EURUSD

The Euro completed near-term consolidative phase and broke above range tops at 1.3567/79, to crack the next barrier at 1.3600, with fresh high being posted at 1.3622. The last significant hurdle on the way towards short-term target at 1.3710, 2013 high, has been dented that signal final push higher for completion of multi-month 1.3710/1.2744 corrective phase. Near-term technicals are positively aligned, however, caution is required, as overbought hourly conditions and formation of 4-hour RSI / MACD bearish divergence, would signal further hesitation at 1.36 zone. Initial support lies at 1.3576 higher low, ahead of 1.3550, 50% of 1.3476/1.3622 upleg and pivotal 1.3500 support, higher platform and 4-hour Ichimoku cloud top, loss of which would be bearish. Alternatively, close above 1.36 handle, is required to confirm bullish resumption.

Res: 1.3622; 1.3658; 1.3700; 1.3710
Sup: 1.3576; 1.3550; 1.3532; 1.3500





GBPUSD

Cable trades in a near-term consolidative mode, after renewed attempt higher stalled on approach to the fresh high at 1.6259, posted on 01/10. Overall bulls, however, remain intact and keep focus at short-term targets at 1.63 zone and 2013 high at 1.6380, posted on 02/01. Further consolidation is not ruled out, as near-term indicators are in descending mode, with higher low at 1.6160, expected to hold. Otherwise, break lower would signal stronger corrective action, with overbought daily studies supporting the notion.

Res 1.6239; 1.6250; 1.6259; 1.6300
Sup: 1.6200; 1.6160; 1.6126; 1.6100






USDJPY

The pair remains pressured, as fresh extension of near-term downleg from 100.60, broke below bull trendline off 93.78, 13/06 low, approaching psychological 97.00 level, ahead of more significant 96.80, 28/08 higher low. With near-term indicators holding in the negative territory, further easing is seen favored, with break below 96.80, also near 76.4% retracement of 95.78/100.60 ascend, expected to open 96.55, 200DMA and key 95.78 support, 08/08 low. Corrective rallies may precede fresh weakness, with initial resistances laying at 98.00/28 and rallies seen limited under 98.71, 01/10 lower top.

Res: 98.00; 98.28; 98.71; 99.00
Sup: 97.13; 97.00; 96.80; 96.55







AUDUSD

The pair holds positive near-term tone off 0.9280 base, as pullback from recovery top at 0.9434, found footstep at 0.9332. The rally cracked psychological 0.9400 barrier, with clear break here and 0.9434, required to confirm higher low formation and allow for further recovery. Conversely, rejection under 0.9432, would keep the downside vulnerable and signal prolonged consolidation, as long as 0.9280 support holds.

Res: 0.9400; 0.9409; 0.9434; 0.9455
Sup: 0.9365; 0.9332; 0.9300; 0.9280