Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 53
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Windsor Brokers - Short Term Technical Analysis for Majors (14:45 GMT)
EUR/USD
The pair broke below the bull trendline and the recent range floor at 1.3445/21 zone, accelerating losses through weekly Ichimoku cloud base at 1.3407, to so far test levels close to our next target at 1.3360. Near-term studies maintain bearish tone, as 1/4H MACD extends below the signal line, however, oversold conditions are looking for near-term base and corrective bounce. Previous support at 1.3421, now reverted to resistance, offers initial barrier, while 1.3500 zone, also 20 day SMA is expected to cap. Dominating bears suggest further weakness, with loss of 1.3360 to open 1.3300 next.
Res: 1.3421, 1.3450, 1.3480, 1.3500
Sup: 1.3371, 1.3360, 1.3300, 1.3483
GBP/USD
Extends losses after break below 1.5611/00 support zone, to test 1.5555, daily Ichimoku cloud base. Break here to confirm short-term bearish structure and open way for fresh losses through 1.5541, 12 Oct low, towards initial targets at 1.5500, figure support and 1.5483, Fib 76.4% of 1.5271/1.6164 upleg. Overextended conditions on 4H chart see scope for corrective action, with initial resistance at 1.5600/20, ahead of breakpoint at 1.5690 that is expected to cap the upside attempts for now.
Res: 1.5600, 1.5620, 1.5633, 1.5653
Sup: 1.5555, 1.5541, 1.5500, 1.5483
USD/JPY
Improves the near-term tone after today’s rally from 77.00 extends gains towards initial barrier at 77.31. Break here and clearance of 77.50, 15 Nov spike high, is required to confirm near-term bulls and open way for fresh gains towards key short-term barrier at 78.00. Four-hour chart’s studies are emerging above their midlines and favor further gains, however, overextended hourlies may interrupt current rally. Holding above 77.00, 20 day SMA, maintains the near-term positive structure.
Res: 77.31, 77.50, 77.86, 78.00
Sup: 77.12, 77.00, 76.91, 76.80
USD/CHF
The near-term outlook shows signs of improvement after yesterday’s slide found support at 0.9105, just above strong support zone at 0.9100/0.9083. Fresh gains again stalled on approach to key near-term resistance at 0.9200, also broken bull trendline off 0.8566 low. Corrective pullback on overbought hourly conditions, needs to find support above 0.9160, today’s intraday high and 20 day SMA, to maintain near-term bulls for fresh attack at 0.9200 initially, ahead of possible extension towards key short-term barrier at 0.9234, 17 Nov high.
Res: 0.9199, 0.9207, 0.9234, 0.9300
Sup: 0.9160, 0.9125, 0.9105, 0.9083
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Trades in a near-term corrective mode after yesterday’s loss of strong support zone at 1.3420/00, extended bears to fresh 7-week low at 1.3320. The pair attempts to clear 1.3400 for test of strong resistance area at 1.3420, previous low / Fib 50% of the latest 1.3529/1.3320 decline and 1.3450/70, Fib 61.8% / 20 day SMA, where reversal is anticipated, ahead of fresh leg lower. Only sustained break and weekly close above the latter, would put short-term bears on hold and signal stronger correction. However, daily chart’s firm bearish outlook sees scope for further weakness and break below 1.3320 to expose 1.3240 next.
Res: 1.3400, 1.3421, 1.3450, 1.3470
Sup: 1.3352, 1.3320, 1.3300, 1.3483
GBP/USD
Yesterday’s break below 1.5541 target, extended losses briefly below 1.5500 support that signals possible full retracement of short-term 1.5271/1.6164 upleg, as short-longer-term studies remain bearish. Corrective bounce on overextended hourly tools, faces initial barrier at 1.5580/1.5610 zone, with possible stretch towards strong resistance at 1.5690, which is expected to cap, before bears take control again. Break below 1.5493, yesterday’s fresh low, to open 1.5420, then the last barrier before 1.5271 low at 1.5340/30 zone.
Res: 1.5585, 1.5600, 1.5610, 1.5633
Sup: 1.5538, 1.5515, 1.5500, 1.5493
USD/JPY
Break above 77.50 barrier on yesterday’s rally from 77.00, proved to be false, as gains stalled just above 77.50 and bears took over again, bringing the pair back to 77.00 zone. Holding above the latter, also 20 day SMA, keeps hopes of possible fresh attack at 77.50 alive, as 4-hour studies maintain slightly positive tone. Clear break above 77.50 is required to improve short-term structure and expose 78.00. However, wider picture’s outlook is still weak, with fresh extension of the broader downtrend from 79.52 is not ruled out.
Res: 77.31, 77.50, 77.86, 78.00
Sup: 77.00, 76.91, 76.80, 76.50
USD/CHF
The 0.9200 zone proved to be strong barrier, as fresh gains from 0.9105 higher low, failed again to clear 0.9200. Narrowing range is now forming a triangle pattern, with initial support at 0.9160 being tested so far, ahead of 0.9120/05 zone, trendline support / previous low, below which to open key support at 0.9083. On the upside, break above 0.9200/34 resistances to resume the broader uptrend and focus 0.9313/38 targets.
Res: 0.9199, 0.9212, 0.9234, 0.9300
Sup: 0.9160, 0.9125, 0.9105, 0.9083
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Extended one month downtrend from 1.4246, losing main bull trendline from 1.1875, 2010 low, to end week just above 1.3200 mark, the last barrier ahead of key short-term support at 1.3145. Overnight’s bounce is seen corrective, with previous low and 20 day SMA on 4H chart, limiting gains for now at 1.3330 zone. Losing 1.3300 handle, covers the gap and increases pressure again, keeping the focus lower. Only regain of 1.3400/20, strong resistance zone, would delay immediate bears.
Res: 1.3314, 1.3333, 1.3352, 1.3410
Sup: 1.3230, 1.3211, 1.3200, 1.3145
GBP/USD
The pair comes under pressure again after bounce from 1.5422, last Friday’s fresh low, failed to regain initial barrier at 1.5565, with subsequent loss of 1.5500 support, approaching day’s low at 1.5460, to possibly retest 1.5422, as the hourly studies are turning lower. Loss of the later to resume one-month downtrend from 1.6164 high and re-focus 1.5326, ahead of key support at 1.5271, 06 Oct low. Only break above 1.5600 barrier would provide near-term relief.
Res: 1.5500, 1.5524, 1.5564, 1.5581
Sup: 1.5460, 1.5422, 1.5400, 1.5326
USD/JPY
Maintains near-term positive tone off 77.00 support, after break above 77.50/57 barriers extended gains to 77.78 so far, just ahead of key resistance at 78.00. The pair has pared overnight’s losses after gap lower opening, as 77.50, now acting as support, contained dip. Immediate focus is at 77.78/78.00, also near-term bear-channel ceiling, clearance of which is required to signal stronger gains. On the downside, loss of 77.50 would weaken the structure and possibly open 77.00 for retest.
Res: 77.78, 77.86, 78.00, 78.23
Sup: 77.60, 77.44, 77.20, 77.00
USD/CHF
Near-term price action from last Friday’s fresh eight-month high at 0.9328 is seen corrective, as short-term bulls are gaining control after breaking above the 0.9313, previous high and ending one-month corrective phase. Overnight’s low at 0.9255 now offers initial support, ahead of 0.9200 zone.
Res: 0.9305, 0.9328, 0.9338, 0.9350
Sup: 0.9255, 0.9200, 0.9187, 0.9152
Windsor Brokers - Short Term Technical Analysis for Majors (15:00 GMT)
EUR/USD
Near-term correction from last Friday’s fresh 7-month low at 1.3211 broke through initial barriers at 1.3333/52, to challenge strong resistance zone at 1.3400/20. Gains were so far capped just under 1.3400, also main bear trendline. Break here to open way for stronger correction and expose psychological barrier at 1.3500. Hourly studies remain in the positive zone, however, overextended conditions risk fresh easing. Initial support at 1.3350/30 zone needs to contain dips, while below 1.3300 to re-focus 1.3211 low.
Res: 1.3397, 1.3410, 1.3420, 1.3443
Sup: 1.3347, 1.3333, 1.3300, 1.3272
GBP/USD
Extends the near-term corrective phase off 1.5422 low, after initial gains were capped under 1.5564 resistance and subsequent pullback contained at 1.5460. Fresh rally through 1.5564/81 barriers, approached strong resistance at 1.5600, previous low / Fib 38.2% of 1.5887/1.5422 downleg / trendline resistance, above which to spark fresh correction and expose 1.5655, Fib 50%, ahead of strong barrier at 1.5690. Studies on 4H chart are turning positive, while downside remains protected while 1.5500 is intact.
Res: 1.5593, 1.5611, 1.5655, 1.5690
Sup: 1.5550, 1.5524, 1.5500, 1.5460
USD/JPY
Bulls are firmly in play, after being interrupted by pullback to initial support at 77.50. Fresh gains are testing initial target at 78.00, as the pair breaks above bull channel, confirming near-term bullish structure. Clearance of 78.00 is required to open 78.25/44, 04/01 Nov highs, next. Overbought 1/4H conditions suggest corrective pullback would be preceding fresh rally, with 77.50 zone expected to contain dips.
Res: 78.00, 78.25, 78.44, 79.00
Sup: 77.78, 77.60, 77.50, 77.44
USD/CHF
Weakens the near-term structure, after pullback from fresh high at 0.9328, posted last Friday, lost initial support at 0.9255, with break below 0.9200, previous congestion ceiling, risking test of 0.9150, 24 Nov high / trendline support. Temporary support was found at 0.9173, however, clear break above 0.9200 and regain of 0.9255, is required to improve near-term tone.
Res: 0.9221, 0.9255, 0.9305, 0.9328
Sup: 0.9173, 0.9152, 0.9125, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Maintains near-term positive tone off 1.3211 low, but key resistance zone at 1.3400/20 stays intact for now, as main bear trendline, drawn of 1.4246 high, limits the upside. Break above 1.3400/20 barriers would signal an interruption of the broader downtrend and open way for recovery towards 1.3500, psychological resistance initially, ahead of another strong barrier at 1.3600 zone, mid Nov consolidation phase ceiling / Fib 38.2% of 1.4246/1.3211. Immediate barriers at 1.3365, 1H chart triangle pattern upper boundary and 1.3397, yesterday’s high, need to be cleared to confirm near-term bullish stance. On the downside, 1.3280/70 zone, yesterday’s lows / bull trendline off 1.3211, offer good support for now, with break here to signal an end of near-term corrective phase and turn focus lower.
Res: 1.3372, 1.3397, 1.3410, 1.3420
Sup: 1.3300, 1.3284, 1.3272, 1.3234
GBP/USD
Near-term price action shows the pair is running out of steam after yesterday’s corrective rally was capped under strong resistance at 1.5600, previous lows / Fib 61.8% of the latest 1.5690/1.5422 bear-leg. Subsequent pullback found temporary support just above yesterday’s low and initial support at 1.5457, with pair struggling to hold gains above 1.5500 mark. Hourly studies are turning negative, with risk on loss of 1.5500 and higher platform at 1.5460, to re-focus 1.5422. On the upside, above today’s high at 1.5533 opens 1.5578, trendline resistance, ahead of key barriers at 1.5600 zone.
Res: 1.5533, 1.5578, 1.5593, 1.5611
Sup: 1.5500, 1.5468, 1.5457, 1.5422
USD/JPY
The pair holds short-term positive tone from 77.00/76.80 lows, as the latest strength through bull channel upper border and key short-term resistance at 78.00, has so far tested initial target at 78.25. Corrective pullback on overbought hourly conditions, should ideally be contained above 77.60/50, previous highs / Fib 38.2% of 76.80/78.25 rally, where also 4H 20 day SMA lies, to keep bulls intact. Continuation of the short-term uptrend would focus 78.44/79.00, 01 Nov highs, on a break above 78.25.
Res: 78.00, 78.25, 78.44, 79.00
Sup: 77.87, 77.78, 77.60, 77.50
USD/CHF
Weakens the near-term structure, after pullback from fresh high at 0.9328, posted last Friday, lost initial support at 0.9255, with break below 0.9200, previous congestion ceiling, finding temporary support at 0.9173, just ahead of main bull trendline at 0.9165 and previous low at 0.9150. Fresh gains failed to regain 0.9255 handle and triggered the fifth wave off 0.9328 that risks retest of 0.9100/0.9080, key short-term supports. Loss of the latter would signal a wider picture’s double top and possible broader weakness.
Res: 0.9242, 0.9255, 0.9305, 0.9328
Sup: 0.9173, 0.9152, 0.9125, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
The near-term outlook maintains negative tone, with the latest price action attempting through recent consolidation floor at 1.3280/70 zone, as the pair broke below triangle support at 1.3315 and also loses 1.3300 handle. Yesterday’s upside rejection at key resistance zone above 1.3400 renews fears of fresh weakness, with immediate focus at 1.3211, 25 Nov low and key support at 1.3145. Hourly studies are in the negative territory, with 20 day SMA capping the upside for now.
Res: 1.3305, 1.3357, 1.3370, 1.3397
Sup: 1.3234, 1.3211, 1.3200, 1.3145
GBP/USD
Accelerates losses following yesterday’s strong rally that failed to regain break point at 1.5690. Loss of initial supports at 1.5600/1.5580, now threatens near-term bull trendline, drawn off last Friday’s low and Fib 61.8% of 1.5422/1.5655 ascend at 1.5510, break of which and 1.5500 would further weaken near-term structure and expose 1.5470/60, next supports. Reversal above 1.5500/1.5470, however, would keep the short-term bulls in play for possible fresh push higher, with regain of minimum 1.5600 required to confirm.
Res: 1.5580, 1.5600, 1.5627, 1.5655
Sup: 1.5528, 1.5510, 1.5500, 1.5580
USD/JPY
The pair returns back to channel after the recent rally probed levels above 78.00 barrier. Dips were contained at initial support at 77.60/50 zone for now, keeping the near-term positive tone in play. Overnight’s attempt through 78.00 mark, would signal fresh strength ahead, with break above 78.27 to open way towards 78.44 and 79.00. Hourly studies still keep positive tone, with 20 day SMA underpinning. Only loss of 77.60/50 would weaken the near-term structure and turn focus towards 77.00 support.
Res: 78.10, 78.27, 78.44, 79.00
Sup: 77.85, 77.60, 77.50, 77.44
USD/CHF
Returns to strength after two days congestion within 0.9180/0.9240 range that was interrupted by spike lower to 0.9140 zone. Current price action sees attempt through the upper boundary of the range, as the pair broke above near-term bear-trendline off 0.9325 high. Hourly studies are regaining momentum, with clear break above 0.9240/55 barriers and regain of 0.9300 handle, required to signal higher low, ahead of final push through 0.9328, previous high. On the downside, 0.9200/0.9180 zone offers strong support and only break here would signal and extension of corrective pullback from 0.9328, for possible retest of 0.9140 and key near-term supports at 0.9100/0.9080.
Res: 0.9255, 0.9305, 0.9328, 0.9338
Sup: 0.9200, 0.9173, 0.9152, 0.9137
Windsor Brokers - Short Term Technical Analysis for Majors (15:00 GMT)
EUR/USD
The near-term outlook improves after sharp rally from past two days consolidation range floor at 1.3250 zone, surged through 1.3440, previous high and 1.3500/10, psychological barrier / Fib 50% of 1.3810/1.3211 downleg, to hit fresh one-week high at 1.3532. Hourly / 4-hour studies are supportive for further extension and possible test of next key barrier at 1.36 zone, Fib 61.8% / 18 Nov high, however, overbought conditions, suggest corrective pullback may precede fresh rally. Previous high at 1.3440 offers initial support, while dips should be contained above 1.3400, to keep current structure intact.
Res: 1.3532, 1.3567, 1.3580, 1.3600
Sup: 1.3440, 1.3410, 1.3400, 1.3370
GBP/USD
Jumps higher after pullback from yesterday’s fresh high at 1.5655 was contained at broken bear-trendline at 1.5530. Strong rally through 1.5655 and break point at 1.5690, has so far reached 1.5756, near Fib 76.4% of 1.5887/1.5422 descend and turned focus higher. Upside clearance of 1.5800 barrier would signal retest of strong short-term resistance at 1.5880 zone, 18 Nov high / 03 Nov low. Corrective pullback on overbought RSI faces strong support at 1.5655, with potential extension towards 1.5600, where dips should be contained.
Res: 1.5756, 1.5800, 1.5875, 1.5890
Sup: 1.5700, 1.5655, 1.5600, 1.5580
USD/JPY
Weakens the near-term structure, as the latest sharp fall broke below strong support at 77.50, also trendline support, extending losses to 77.28 so far. Immediate risk is seen on retest of key short-term supports at 77.00/76.80, as hourly studies are in the red territory. Only regain of 78.00 handle would ease downside pressure and re-focus 77.14/28, recent highs.
Res: 77.61, 77.85, 78.00, 78.14
Sup: 77.28, 77.00, 76.80, 76.56
USD/CHF
Sharp sell-off followed today’s upside rejection at past three-day’s consolidation top, broke below descending triangle, also losing all significant support levels and key one at 0.9080, with fresh two-week low posted at 0.9064. Negative near-term structure now keeps the downside favored and risks creation of double top pattern that may trigger broader weakness. Further extension lower faces next support at 0.9000, psychological level, ahead of 0.8950, mid-November higher platform. Corrective bounce should stay capped at 0.9200 for now.
Res: 0.9137, 0.9152, 0.9173, 0.9180
Sup: 0.9064, 0.9000, 0.8950, 0.8921
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
The pair steadies at 1.3450 zone after corrective pullback of yesterday’s sharp rally that peaked above 1.3500 barrier, found footstep within our support zone at 1.3440/00. Positive tone on 4H chart keeps hopes of fresh push higher, with clearance of 1.3532, yesterday’s high / over Fib 50% of 1.3810.1.3211 downleg, to expose the next strong resistances at 1.3600 zone, Fib 61.8% at 1.3605 / 1.3614, 18 Nov high and signal near-term base. On the downside, 1.3400, key near-term support, is expected to hold, to keep bulls in play.
Res: 1.3472, 1.3500, 1.3532, 1.3567
Sup: 1.3420, 1.3400, 1.3370, 1.3360
GBP/USD
Yesterday’s surge through key barrier at 1.5690/1.5700 zone suggests the pair is attempting to base, as gains extended to 1.5777, over Fib 76.4% of 1.5887/1.5422 decline and turned near-term focus higher. Corrective reversal on overbought conditions steadies above our initial support at 1.5655 for now, near Fib 38.2% of 1.5422/1.5777 ascend, with focus at 1.5800, above which to open next barrier at 1.5880 zone, 18 Nov high / 03 Nov low. Only loss of 1.5600 handle would sideline near-term bulls and turn focus lower.
Res: 1.5716, 1.5777, 1.5800, 1.5875
Sup: 1.5672, 1.5655, 1.5600, 1.5580
USD/JPY
Corrective action from 77.28, yesterday’s low, where sharp decline found support, remains capped by 20 day SMA at 77.80 for now. While below the latter, near-term focus remains on the downside, with the fifth wave on pullback from 78.27 high, to possibly test 77.00 zone. Break above 77.80/78.00, however, would improve the outlook and re-focus recent highs at 78.14/27.
Res: 77.80, 78.00, 78.14, 78.27
Sup: 77.50, 77.28, 77.00, 76.80
USD/CHF
Remains in near-term downtrend from 0.9328 high, as yesterday’s sharp fall through key supports at 0.9100/0.9080, extended loses to 0.9064 so far. Corrective bounce found strong resistance at 0.9150, previous support, with negative near-term studies keeping the downside favored, risk of forming double top pattern is rising. Below 0.9064 to focus 0.9000 initially, while only regain of 0.9200 barrier would improve near-term tone.
Res: 0.9137, 0.9152, 0.9173, 0.9180
Sup: 0.9100, 0.9064, 0.9000, 0.8950
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Continues to weaken, as upside failure to regain 1.3600 handle, triggered fresh sell-off that was accelerated by US jobs data, with further pressure coming from negative fundamentals regarding the Eurozone credit-rating. The pair has lost strong support at 1.3370/60 zone and so far retraced 61.8% of recovery phase from 1.3211, 25 Nov low. As negative hourly studies continue to favor further losses, immediate focus comes on 1.3320/00, bull trendline off 1.3211/ figure support, below which would re-focus 1.3211 and possibly look for extension of broader downtrend. Oversold hourly conditions may provide temporary relief in corrective bounce, with 1.3400/20 offering initial resistance and 1.3485 expected to cap for now. Only lift above 1.3500 would delay bears.
Res: 1.3384, 1.3400, 1.3420, 1.3487
Sup: 1.3320, 1.3300, 1.3273, 1.3211
GBP/USD
Remains in a negative near-term mode from 1.5777, 30 Nov high, as reversal has so far retraced over 50% of initial 1.5422/1.5777 recovery rally. Basing attempt under 1.5600 and subsequent bounce, failed to sustain gains, with fresh weakness underway, threatening 1.5576, last Friday’s low, as the pair broke under bull trendline off 1.5422 low. Hourly studies are back into negative territory, with price action holding below hourly 20 day SMA and keeping the downside in focus. Loss of 1.5576 to open 1.5558, Fib 61.8% and possibly signal an end of corrective phase, with break below 1.55/2500 to confirm. On the upside, 1.5650 zone offers initial resistance, while only clearance of 1.5700 barrier would improve the near-term outlook.
Res: 1.5641, 1.5650, 1.5700, 1.5714
Sup: 1.5586, 1.5576, 1.5558, 1.5525
USD/JPY
Near-term outlook remains weak, as the pair failed to clear important 78.00 barrier. Subsequent reversal is attempting to stabilize at 77.80/70 zone, just above bull trendline drawn off 76.56 low that may keep hopes of fresh gains through 78.00 alive. Negative hourly studies, however, keep the downside pressure, with loss of 77.60, trendline support and Fib 50% of end of Oct post-intervention rally, to further weaken the structure and expose 77.28 and 77.00 supports. On the upside, regain of 78.00/14 is required to signal fresh strength ahead and open 78.27/44 next.
Res: 77.85, 78.00, 78.14, 78.27
Sup: 77.67, 77.50, 77.28, 77.00
USD/CHF
Remains in stable near-term uptrend off 0.9064/69 lows of 30Oct / 01 Dec, where a higher base was formed. Clearance of 0.9200 barrier and previous highs at 0.9239/49, has so far reached levels just under 0.9300 barrier. Overbought hourly conditions, however, may delay rally, with dips to be contained above 0.9200 handle. Near-term studies remain in a positive territory and favor retest of 0.9313/28 peaks, above which to open fresh leg higher and expose 0.9400 initially.
Res: 0.9294, 0.9300, 0.9313, 0.9328
Sup: 0.9249, 0.9239, 0.9200, 0.9189
Windsor Brokers - Short Term Technical Analysis for Majors (14:30 GMT)
EUR/USD
Remains under pressure, as recovery attempt from today’s low at 1.3332, was capped at 1.3426, initial resistance zone. Fresh weakness is testing previous support at 1.3360, with 1.3332/29, day’s low / main short-term bull trendline in focus, as the hourly structure is losing momentum. The near-term price action is limited within the asymmetric triangle, with the upper boundary at 1.3430, limiting the upside for now.
Res: 1.3384, 1.3400, 1.3420, 1.3487
Sup: 1.3360, 1.3330, 1.3300, 1.3273
GBP/USD
The near-term bias remains skewed to the downside while broken bull trendline off 1.5422 low caps corrective attempts. Hourly studies are below their midlines, suggesting further extension of the short-term reversal from 1.5777, 30 Nov high. Initial support zone at 1.5600/1.5575, holds for now, however, weakening 4H conditions see scope for break lower to expose next array of supports at 1.5557, Fibonacci 61.8% and 1.5525/00. Today’s high at 1.5663 and bear trendline at 1.5687, keep the upside capped for now.
Res: 1.5641, 1.5663, 1.5700, 1.5714
Sup: 1.5586, 1.5576, 1.5558, 1.5525
USD/JPY
Moves in a narrow range after dip to 77.62, day’s low, tested main bull trendline of 76.56, with mild recovery so far unable to regain momentum. While below 78.00 barrier, weak tone is expected to persist, with potential break below trendline support and Fibonacci 50% level at 77.60, to trigger further weakness and expose 77.28, possibly 77.00 on a break. Only clear break above 78.00 would improve near-term structure and re-focus recent highs at 78.27/44.
Res: 77.85, 78.00, 78.14, 78.27
Sup: 77.62, 77.50, 77.28, 77.00
USD/CHF
Today’s corrective dip off day’s fresh high at 0.9294, was contained by hourly 20 day SMA at levels just above our initial support at 0.9200. Fresh gains are en-route to 0.9300 barrier, above which to look for retest of 0.9313/28 peaks and resume broader uptrend. Near-term studies remain supportive and only loss of strong support at 0.9200, also bull trendline off 0.9069 double bottom, would weaken near-term structure.
Res: 0.9285, 0.9294, 0.9300, 0.9313
Sup: 0.9242, 0.9215, 0.9200, 0.9164