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

[WindsorBrokers]

EUR/USD

Continues to correct higher from 1.1875, fresh four year low, posted on 07 Jun. Latest upswing off 1.1954 higher low now approaching 1.2180, 38.2% retracement of 1.2671/1.1875 downleg. Break here is needed to extends correction to 1.2215/72. Dips should be contained by 1.1954 to maintain immediate bears.

Res: 1.2148, 1.2180, 1.2215, 1.2272
Sup: 1.2073, 1.2010, 1.1954, 1.1901




GBP/USD

The corrective phase off 1.4230 looks set to continue towards 1.4771 and possibly 1.4876, as market extends gains from 1.4344 higher low. Eventual lower high sought for a return to weakness and an attempt for retest of 1.4344 and 1.4230.

Res: 1.4769, 1.4793, 1.4860, 1.4874
Sup: 1.4652, 1.4606, 1.4559, 1.4508




USD/JPY
Attempting to break up from a descending wedge to signal strength towards 92.07, 07 Jun high, and possibly 92.43, upper boundary of five week triangle. Break here would open 92.87 next. Downside, 90.95/83 zone supports for now and potential loss here to weaken the immediate tone for 90.53/89.91.

Res: 91.92, 92.07, 92.20, 92.43
Sup: 91.31, 90.85, 90.83, 90.53




USD/CHF

Corrective phase off 1.1730 reached 1.1396, just above 1.1375, channel support. Break below the latter to extend correction and turn focus to 1.1266, while regain of minimum 1.1502 is needed to firm tone for 1.1553 and channel resistance at 1.1602.

Res: 1.1502, 1.1533, 1.1553, 1.1602
Sup: 1.1396, 1.1375, 1.1325, 1.1300