Windsor Brokers - Short Term Technical Analysis for Majors (08:15 GMT)

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EUR/USD

Maintains weak tone from 1.3691/1.3677 area, with market now testing 1.3438, 61.8% retracement of 1.3280/1.3691 ascend. Break below the latter will signal a further slide to 1.3366/40 zone. Only regain of 1.3520/62 would shift near-term focus higher.

Res: 1.3595, 1.3650, 1.3677, 1.3691
Sup: 1.3410, 1.3366, 1.3340, 1.3280




GBP/USD

Today has seen a gap down out of a daily rising channel. This may potentially mark the end of the three legged correction seen since 1.4780, with scope now seen for an eventual full retracement of the 1.4780/1.5523 move.

Res: 1.5335, 1.5365, 1.5385, 1.5448
Sup: 1.5210, 1.5165, 1.5128, 1.5045




USD/JPY
Broke below recent consolidation floor at 92.56, to continue reversal off 94.77, 05 Apr peak. Market now eyeing 91.46, 50% retracement of 88.13/94.77 ascend, as short-term studies becoming stretched. Regain of 92.56, however, is needed to ease current bear pressure and shift focus higher.

Res: 92.21, 92.56, 92.88, 93.15
Sup: 91.46, 91.09, 90.79, 90.67




USD/CHF

Pullback from 1.0784, 08 Apr high, found support at 1.0500 last week. Higher lows have subsequently developed and clearance of 1.0610/15 completes a base for recovery towards 1.0687/1.0761. 1.0600 now offers immediate support.

Res: 1.0687, 1.0713, 1.0761, 1.0784
Sup: 1.0600, 1.0586, 1.0555, 1.0528