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

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EURUSD

The Euro showed no changes compared to the previous sessions, as the price remains entrenched within 1.3440/1.3520 consolidative range. Slight improvement of hourly studies pushed the price to the upper range part, however, overall negative tone keeps pivotal support at 1.3440/20 zone at risk, with break lower to spark fresh bear-leg and expose next targets at 1.3370, daily 90DMA and at 1.3300 zone, 50% retracement of 1.2754/1.3831 rally. Corrective rallies above 1.35 barrier should ideally stay capped under 1.3600/40, to keep bears in play.

Res: 1.3523; 1.3565; 1.3590; 1.3640
Sup: 1.3467; 1.3441; 1.3420; 1.3400



GBPUSD

Cable regained strength and accelerated recovery rally from 1.59 base and critical support, reinforced by daily cloud top, to retrace over 50% of 1.6254/1.5901 descend on a bounce to 1.6094 so far. Approaching important 1.6100/20 resistance zone, keeps focus at the upside, as positive near-term studies support further advance. However, larger picture range trading remains in play, with break of either side required to define fresh direction. Daily studies are losing traction that keeps the lower boundary of the range vulnerable for now.

Res: 1.6094; 1.6116; 1.6148; 1.6171
Sup: 1.6061; 1.6020; 1.6000; 1.5980



USDJPY

The pair extended near-term corrective rally off 98.15 and averts immediate downside risk, seen on violation of 98.00 support. Near-term technicals are positive, as the price approaches initial 98.84 barrier and key resistance at 98.99, regain of which to complete 98.99/96.93 corrective phase and open way for further upside. Higher low and bull trendline at 98.40, offer initial support and should ideally contain dips, while 98.15/00 zone is seen as a breakpoint and break low would revive bears.

Res: 98.74; 98.84; 98.99; 99.12
Sup: 98.40; 98.15; 98.05; 97.80




AUDUSD

The pair remains under pressure, with near-term corrective rally from fresh low at 0.9420, being limited, as brief breaks above 55DMA at 0.9520, failed to sustain gains for now, as daily 20DMA limited rallies at 0.9535. Slightly improved near-term studies are still lacking momentum for stronger recovery that would keep sideways trade in play, as long as range top at 0.9535 and Fibonacci 38.2% of 0.9755/0.9420 descend cap. Weakening daily technicals keep the downside at risk and as long as price holds below 0.9600 handle, regain of which would shift focus higher, retest of initial 0.9420 support and fresh weakness, seen on violation of 0.9420/00 support, would be likely near-term scenario.

Res: 0.9535; 0.9548; 0.9587; 0.9621
Sup: 0.9480; 0.9462; 0.9420; 0.9400




GOLD

Spot Gold remains under pressure, as fresh low and 50% retracement of 1251/1361 corrective rally at 1306 has been retested. The price trades in a consolidative mode, with near-term studies maintaining negative tone and keeping the downside at risk. Break below 1306/00 supports to open 1293 and 1277, Fibonacci 61.8% and 76.4% supports. Consolidation top at 1322, along with previous support, now resistance at 1327, is expected to keep the upside limited for now.

Res: 1315; 1322; 1327; 1335
Sup: 1305; 1300; 1293; 1277