Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 14
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Windsor Brokers - Short Term Technical Analysis for Majors (08:30 GMT)
EUR/USD
Remains constructive off 1.2208, 23 Jun higher low, following the earlier correction off 1.2468, 21 Jun high. Lower rejection at 1.2252, seen on 25 June, now buoys for 1.2429, ahead of key 1.2468, break of which is needed to resume recovery off 1.1875. Loss of 1.2252, however, would weaken the structure and risk 1.2208.
Res: 1.2398, 1.2415, 1.2429, 1.2468
Sup: 1.2317, 1.2280, 1.2252, 1.2208
GBP/USD
Has broken above daily rising channel, also close to 1.5031, 61.8% retracement of the 1.5523/1.4230 fall, to reach 1.5076 high thus far. Current reversal is seen corrective, ahead of fresh strength, and above 1.5076 to eye 1.5149. Only break below 1.4854 weakens outlook.
Res: 1.5076, 1.5095, 1.5149, 1.5174
Sup: 1.4973, 1.4914, 1.4885, 1.4854
USD/JPY
Continues to trend lower off 91.47, 21 June key lower top, with scope now seen for full retracement towards 88.95 swing low. An anticipated break will trigger a near-term extension to 87.96, 2010 low. 89.76 offer initial resistance, and break here is needed to ease immediate bear pressure.
Res: 89.76, 89.97, 90.32, 90.59
Sup: 89.21, 88.95, 88.14, 87.96
USD/CHF
Last week bear flag triggered a fresh weakness that has broken under 1.0924, 10 May low, to signal an extension to 1.0841, 04 May low. Break here risk 1.0728/1.0698, 03 May/ 27 Apr lows, next. Today's lower ceiling at 1.0937 now provides an immediate cap.
Res: 1.0938, 1.0952, 1.0981, 1.1045
Sup: 1.0842, 1.0728, 1.0698, 1.0674