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

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EUR/USD

Corrective attempt off 1.2233, fresh multi-year low, has so far been capped by 1.2420/40, and only break above here would allow stronger recovery towards 1.2514/35. Downside loss of 1.2233, however, will resume the downtrend and expose 1.2134, 50% retracement of 0.8225/1.6040 ascend.

Res: 1.2441, 1.2514, 1.2533, 1.2574
Sup: 1.2310, 1.2280, 1.2233, 1.2208




GBP/USD

Short-term structure continues to be negative, with fresh weakness expected, as 1.4512/09 capped the upside attempts for now. Coupled with yesterday's break under 1.4475, risk is seen for further losses towards the 2009 low at 1.3500. Regain of 1.4547 delays immediate bears.

Res: 1.4512, 1.4547, 1.4605, 1.4638
Sup: 1.4363, 1.4301, 1.4285, 1.4245




USD/JPY

Remains weak from the 93.50/64 double top area that ended the recovery leg off 87.96, yearly low, posted on 06 May. Loss of 91.50 will open way towards 90.83 first, possibly 90.00 on a break. Upside clearance of 93.14 would shift focus higher.

Res: 93.14, 93.64, 93.98, 94.50
Sup: 91.75, 91.64, 91.50, 90.83




USD/CHF

Breach of 1.1245 pivot extended gains to reach 1.1444 yesterday. Consolidation/correction is now underway, with 1.1244 expected to hold, ahead of fresh push higher, and above 1.1444 to target 1.1484, 76.4% retracement of 1.1966/0.9916 decline.

Res: 1.1377, 1.1401, 1.1444, 1.1484
Sup: 1.1295, 1.1258, 1.1244, 1.1150