Windsor Brokers - Short Term Technical Analysis for Majors (07:30 GMT)

[WindsorBrokers]

EUR/USD

Trades in a near-term corrective mode after extending gains to fresh three-weeks high at 1.4536 today. Strong support at 1.4437, 22 July previous high was tested so far, with 20 day MA, currently at 1.4430 holding for now. Reversal here would resume immediate bulls for test of 1.4576 barrier and possible extension towards 1.4600. Holding above 1.4320 zone, 22/25 July higher platform and main trendline support keeps the bullish outlook intact.

Res: 1.4506, 1.4536, 1.4552, 1.4576
Sup: 1.4437, 1.4410, 1.4356, 1.4320




GBP/USD

Extended fresh bull leg off 1.6260 higher platform, clearing 1.6400 barrier, to test 1.6440, 14 July high. Short-term bulls are looking for extension through 1.6440 to test 1.6470, 07 July high, as break above daily Ichimoku cloud confirms positive near-term structure. Corrective pullback on overbought hourly conditions faces good support at 1.6340/30 zone, previous high / 20 day MA and main trendline support at 1.6325, with reversal above here required to keep near-term bullish structure intact.

Res: 1.6385, 1.6400, 1.6440, 1.6471
Sup: 1.6355, 1.6340, 1.6330, 1.6300




USD/JPY

Enters the near-term corrective phase after extension below 78.00 handle posted fresh four-month low 77.56 today. Broader picture, however, remains negative, with pre-intervention low at 76.32, posted on 16 Mar, in short-term focus. On the upside, 78.00 offers initial resistance, while 78.50 zone caps for now.

Res: 78.00, 78.45, 78.67, 79.00
Sup: 77.56, 76.94, 76.32, 76.00





USD/CHF

Bears remain firmly in play as mild recovery followed yesterday