Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 54
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Windsor Brokers - Short Term Technical Analysis for Majors (15:00 GMT)
EUR/USD
Recovery attempt from 1.3332, yesterday’s low, stalled at 1.3454, en-route to 1.3485, with subsequent reversal accelerating decline on pessimistic news from Germany. The pair has so far erased over 76.4% of 1.3332/1.3454 rally, losing 1.3360 support, the last barrier before retest of 1.3332, near Fib 61.8% of 1.3211/1.3547 upleg, also triangle support. Break here to confirm lower top and extend near-term downtrend off 1.5777 high. Hourly studies favor further weakness, with figure support at 1.3300 to come on break below 1.3332. On the upside, 20 day SMA, now pointing lower, maintains the weakness, while 1.3443/54, bear-trendline / day’s high, cap for now.
Res: 1.3400, 1.3426, 1.3453, 1.3485
Sup: 1.3332, 1.3300, 1.3273, 1.3258
GBP/USD
Maintains near-term positive tone off 1.5560, yesterday’s low, as the pair breaks through 1.5640 congestion, to probe above bear-trendline off 1.5777 high. While downside remains protected at 1.5600 zone, today’s lows / triangle support, scope exists for fresh extension through trendline resistance and possible test of 1.5715/25, 05/02 Dec highs, as near-term studies are emerging out of the negative territory. Regain of levels above 1.5700 mark, would signal higher low at 1.5560, with regain 1.5777, required to confirm. On the downside, loss of 1.5600/1.5575, support band, would be bearish.
Res: 1.5669, 1.5700, 1.5715, 1.5725
Sup: 1.5640, 1.5600, 1.5576, 1.5560
USD/JPY
Near-term price action gets entrenched in a narrow range, moving in directionless mode. While 77.60/50 supports stay intact, there are hopes of fresh attempt towards 78.00/10, bear-trendline / 05 Dec high, as fresh momentum emerges on hourly chart. Clearance of initial barriers at 77.80, range ceiling / 20 day SMA, is required to open way for test of 78.00 zone. Loss of 77.50, Fibonacci support, however, would signal and extension of bear-leg from 78.10.
Res: 77.85, 78.00, 78.14, 78.27
Sup: 77.61, 77.50, 77.28, 77.00
USD/CHF
The near-term price action shows the pair well bid but hesitating under initial barrier at 0.9300, as repeated attempts higher failed at 0.9294/86. Hourly studies are above their midlines, keeping the near-term focus at 0.9300 and key barriers at 0.9313/28, with 0.9235/00 support band, expected to hold and keep immediate bulls intact.
Res: 0.9286, 0.9294, 0.9300, 0.9313
Sup: 0.9235, 0.9225, 0.9215, 0.9200
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Remains steady and moving within a narrow range around 1.3400 handle, as bull trendline from 1.3211 low, contained yesterday’s slide at 1.3350. Focus is again on fundamentals, with today’s ECB rate decision coming ahead of EU summit, with decisions expected to be the main driver of the market. Hourly studies are on neutral/positive mode, as the pair attempts through initial barrier at 1.3425, triangle resistance / recent range highs, above which to open strong barriers at 1.3453/85. Downside remains protected at 1.3360/50 zone and while holding above here, near-term positive tone remains in play.
Res: 1.3425, 1.3453, 1.3485, 1.3500
Sup: 1.3400, 1.3390, 1.3360, 1.3350
GBP/USD
Yesterday’s strong rally from 1.5575/90 base, broke above the triangle resistance, to extend gains above 1.5700 and test 1.5720, strong resistance zone. The pair now trades in a near-term consolidative mode, with positive near-term studies setting scope for fresh extension higher and test of 1.5754, 01 Dec high and key barrier at 1.5777, 30 Nov high. Immediate support lies at 1.5690, 20 day SMA / consolidation floor, ahead of 1.5670/60.
Res: 1.5720, 1.5754, 1.5777, 1.5800
Sup: 1.5690, 1.5670, 1.5660, 1.5640
USD/JPY
Maintains near-term negative tone, as steady 3-day decline shows succession of lower lows, keeping the focus at the downside. Hourly studies below midlines, favor further weakness, as the pair attempts through key short-term supports at 77.60/50, below which to open 77.28, 30 Nov low, possibly 77.00 on a break. 20-day SMA on 4H chart at 77.75, maintains weak tone, while main bear-trendline off 78.27 high, caps the upside for now at 78.00.
Res: 77.70, 77.85, 78.00, 78.14
Sup: 77.50, 77.28, 77.00, 76.80
USD/CHF
Continues to move sideways after the upside rejections just under 0.9300 barrier, with downside being protected above 0.9200 handle so far. Risk of further easing exists, as hourly studies are weakening, with loss of immediate supports at 0.9225/00, also Fib 38.2% of 0.9069/0.9294, to trigger fresh leg lower and open next supports at 0.9180, Fib 50% and 0.9165, 05 Dec low. On the upside, 0.9250, today’s high / 20 day SMA, offers initial resistance, ahead of key barriers at 0.9294/0.9300.
Res: 0.9250, 0.9286, 0.9294, 0.9300
Sup: 0.9225, 0.9215, 0.9200, 0.9180
Windsor Brokers - Short Term Technical Analysis for Majors (07:40 GMT)
EUR/USD
Past week’s price action shows the pair in a steady downtrend, moving within the bear channel off 1.3547, 02 Dec high. The recent rather pessimistic news from EU, keep the investors cautious that keeps the downside pressure. Overnights movements were limited under 1.3400, with initial support at 1.3300/1.3280 staying intact for now, despite negative hourly studies. Near-term focus, however, remains at the downside, with session’s low at 1.3333 coming first, ahead of 1.3300/1.3280 and 1.3258, channel support / 30 Nov low, loss of which to re-attract main near-term support at 1.3211 and main bull trendline at 1.3200. overnight’s high at 1.3380 and daily 20 day SMA that capped during the past week, offer initial barriers, ahead of 1.3420, channel resistance, ahead of 1.3432/58, 09/08 Dec spike highs.
Res: 1.3356, 1.3380, 1.3390, 1.3400
Sup: 1.3333, 1.3316, 1.3300, 1.3280
GBP/USD
Continues to trade sideways, with price action entrenched within 1.5777/1.5560 range. Near-term studies hold neutral tone, however, daily outlook remains negative, as a part of broader downtrend from 1.6164, 31 Oct high, with 55 day SMA, limiting gains for now. Loss of initial support at 1.5600 puts pressure at 1.5584, last Friday’s low and 1.5560, 06 Dec low and range floor, loss of which to signal and end of consolidative phase and expose next array of supports at 1.5525/00. Hourly studies below their midlines and 20 day SMA pointing lower, favor such scenario. Only break above 1.5664, Friday’s intraday high, would ease bear pressure, however, regain of 1.5700 handle is required to avert immediate downside risk.
Res: 1.5635, 1.5655, 1.5664, 1.5700
Sup: 1.5584, 1.5560, 1.5525, 1.5500
USD/JPY
Series of lower highs maintain short-term downtrend from 78.27, 29 Nov high, as the near-term recovery attempt from 77.12, 08 Dec spike low, remains capped at 77.80, just under cannel resistance, currently at 77.87. Hourly structure shows the pair in a directionless motion, holding within 30 pips range, with break of either side to define near-term direction. Daily structure, however, remains positive as long as 55 day SMA holds the downside. Immediate support lies at 77.48, Friday’s low, ahead of 77.28/12 lows, below which to resume broader downtrend. Upside clearance of 77.80, range ceiling opens 78.00 next, ahead of 78.10/27 barriers.
Res: 77.66, 77.78, 77.87, 78.00
Sup: 77.57, 77.48, 77.28, 77.10
USD/CHF
Near-term focus remains at the upside, as the pair breaks above bear-trendline off 0.9328, in attempt to clear strong barrier at 0.9300 that was capping the upside attempts in a past couple of day. Break here to signal an end of near-term range trade phase and expose next barriers at 0.9313 and 0.9328, 06 Oct / 25 Nov highs. Hourly studies are positive and favor fresh rally, with 20 day SMA underpinning the action at 0.9250. Only loss of 0.9200 handle would be bearish.
Res: 0.9300, 0.9313, 0.9328, 0.9338
Sup: 0.9260, 0.9233, 0.9215, 0.9200
Windsor Brokers - Short Term Technical Analysis for Majors (15:00 GMT)
EUR/USD
Continues to head lower, as losses accelerated after breaking below 1.3300 handle. Loss of the last barriers at 1.3280 and 1.3258, 30 Nov low / channel support, opens way towards 1.3211, 25 Nov low and 1.3200, weekly H&S neckline, break below which to complete the pattern and focus 1.3145, with extension towards psychological level at 1.3000 not ruled out. Negative hourly studies favor this scenario, however, oversold conditions may delay bears in favor of corrective bounce. Initial resistances lie at 1.3280/1.3300, ahead of 20 day SMA, currently at 1.3320 and maintaining bear-tone. Only regain of today’s highs at 1.3380 zone would provide near-term relief.
Res: 1.3280, 1.3290, 1.3300, 1.3300
Sup: 1.3229, 1.3211, 1.3200, 1.3145
GBP/USD
Has nearly fully recovered today’s losses from 1.5657, day’s high, after break below 1.5560, range floor, found footstep at 1.5536, just ahead of strong support at 1.5525. However, gains stalled just ahead of 1.5657/64 resistance zone, with fresh weakness putting pressure on 1.5600 support. Near-term studies remain in the negative territory, keeping the downside vulnerable, with only sustained break above 1.5657/64 barriers to ease bear-pressure.
Res: 1.5656, 1.5664, 1.5700, 1.5733
Sup: 1.5600, 1.5584, 1.5560, 1.5536
USD/JPY
Turns the near-term tone into positive field after break above the recent range broke above bear-trendline off 78.27 high, to briefly test 78.00 barrier. Corrective pullback on overbought hourlies should find support at/ above 77.70/60 supports, to maintain positive structure, with clear break above 78.00 to open way for further gains and retest of 78.27/44. Loss of 77.60, however, would signal return to the near-term range and risk test of range floor at 77.48.
Res: 78.00, 78.10, 78.27, 78.44
Sup: 77.74, 77.57, 77.48, 77.28
USD/CHF
Final push through 0.9300 congestion has triggered fresh rally that cleared previous highs at 0.9313/28, to post marginally fresh two-week high at 0.9336. Near-term bulls are fully in play, with 0.9350/0.9400 in focus and possible extension towards strong resistance at 0.9461, 10 Oct low, seen on a break. However, overbought conditions risk corrective pullback, before fresh action. Previous resistances at 0.9300/0.9280 zone, now offer initial support.
Res: 0.9338, 0.9350, 0.9400, 0.9450
Sup: 0.9300, 0.9280, 0.9260, 0.9233
Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EUR/USD
Bears remain firmly in play after the pair broke below 1.3300/1.3280, strong support zone, accelerating losses below channel support at 1.3250. Break below 1.3200, weekly Head and Shoulders neckline has so far reached 1.3160 low, just ahead of strong support at 1.3145, 04 Oct low. Corrective / consolidative phase is under way, as near-term studies are overstretched, however, upside is seen limited at 1.3280/1.3300 zone, also 20 day SMA on 4H chart, as negative sentiment continues to dominate. On the downside, loss of critical support at 1.3145 would open fresh bear-phase and expose 1.3000 zone next.
Res: 1.3250, 1.3280, 1.3290, 1.3300
Sup: 1.3182, 1.3160, 1.3145, 1.3100
GBP/USD
Returns back to two-week range after yesterday’s brief break below 1.5560 range floor, found support at 1.5536. Regain of 1.5600 handle sees potential for further extension and possible test of next barrier at 1.5660 zone, as hourly conditions are improving. However, broader picture’s bearish tone remains in play as long as 1.5750/70, daily 55 day SMA and range ceiling caps the upside. Immediate supports at 1.5570, day’s low and 1.5560, Fib 61.8% of 1.5422/1.5770 ascend need to hold, otherwise, fresh weakness towards 1.5536/25 and 1.5500, would be the likely near-term scenario, with key short-term support at 1.5422 to come in focus on a break below 1.5500 figure support.
Res: 1.5623, 1.5656, 1.5664, 1.5700
Sup: 1.5597, 1.5571, 1.5560, 1.5536
USD/JPY
The pair consolidates the recent gains from 77.50 support that broke through trendline resistance and briefly tested 78.00 barrier. Holding above 77.80, range floor and broken bear-trendline off 78.27 high, would keep near-term focus higher, with clearance of 78.00 required to open next static resistances at 78.27/44. Near-term studies are still supportive, with 20 day SMA, currently at 77.70, underpinning the action. Loss of 77.80/70, however, would sour the near-term tone and re-expose initial support at 77.50.
Res: 78.00, 78.10, 78.27, 78.44
Sup: 77.80, 77.70, 77.57, 77.48
USD/CHF
Yesterday’s strong rally that cleared key obstacles at 0.9300 and 0.9313/27, ended short-term corrective phase from 0.9328, 25 Nov previous high and opened fresh leg higher, extending the broader uptrend from 0.7067, 09 Aug record low. The pair so far tested levels just under 0.9400 barrier, with shallow correction contained by 20 day SMA at 0.9350, for now. Studies on 4H chart are positive, but oversold conditions see risk of deeper correction, before fresh rally. Firm break above 0.9400 to open way for test of psychological barrier at 0.9500. On the downside, potential loss of 0.9350 support would test previous resistance at 0.9328, however, dips need to hold above 0.9300 mark, also Fib 38.2% of 0.9180/0.9386 ascend, to keep immediate bulls intact.
Res: 0.9386, 0.9400, 0.9450, 0.9500
Sup: 0.9360, 0.9350, 0.9328, 0.9300
Windsor Brokers - Short Term Technical Analysis for Majors (15:00 GMT)
EUR/USD
Moves in a near-term consolidative mode, after hitting fresh 9-week low at 1.3164. Mild corrective bounce was capped just under broken channel support trendline, as hourly studies are losing momentum. Lack of fundamentals that may give stronger boost to the pair and negative near-term studies, keep the downside in focus, with extension through 1.3260 to open 1.3225/00, ahead of critical support at 1.3145, below which would trigger large stops and spark fresh weakness, with test of 1.3000 zone not ruled out.
Res: 1.3200, 1.3235, 1.3250, 1.3280
Sup: 1.3160, 1.3145, 1.3100, 1.3054
GBP/USD
Near-term price action remains congested between 1.5565, today’s low and 1.5630 level, where today’s recovery attempt was capped. Hourly conditions are in neutral mode, as the pair moves in a choppy, directionless mode, while 4H outlook remains skewed to the downside, as 20 day SMA caps the upside for now. Loss of the recent rage floor to signal further retracement of 1.5422/1.5777 upleg and open 1.5525/00 initially. On the upside, only regain of 1.5665/1.5700 barriers would improve near-term tone.
Res: 1.5600, 1.5628, 1.5656, 1.5665
Sup: 1.5571, 1.5560, 1.5536, 1.5525
USD/JPY
Eases lower after failure to clear 78.00 on renewed attempt triggered pullback towards initial support at 77.50, with 77.63 low seen so far. This weakens immediate tone, with hourly studies now below their midlines, increasing risk of further weakness. Loss of 77.50 to open 77.28/12 lows, possibly psychological support at 77.00 on a break, while only lift above 78.00 to signal fresh strength and focus 78.27/44 instead.
Res: 77.87, 78.00, 78.10, 78.27
Sup: 77.63, 77.48, 77.28, 77.12
USD/CHF
Extends corrective pullback after gains hit fresh high, just below 0.9400 barrier. The pair retraced Fib 23.6% of the recent of 0.9180/0.9386 upleg and 0.9340, with further easing towards 0.9328, possibly to 0.9300 support, also Fib 38.2% / 20 day SMA, not ruled out, before bulls re-assert. Resumption of the broader uptrend requires clearance of 0.9400, with 0.9500 seen next. Only loss of 0.9300 handle would delay bulls in favor of deeper reversal.
Res: 0.9377, 0.9386, 0.9400, 0.9450
Sup: 0.9340, 0.9328, 0.9300, 0.9285
Windsor Brokers - Short Term Technical Analysis for Majors (15:00 GMT)
EUR/USD
Resumes bear-trend after brief consolidation above 1.3000 mark, with upside capped at 1.3060. Loss of the last barrier at 1.2968, 28 Nov 2010 low, opens way towards 1.2900 and next key support at 1.2872, 2011 low, posted on 09 Jan. Near-term studies remain deeply in the negative territory.
Res: 1.3000, 1.3063, 1.3100, 1.3160
Sup: 1.2964, 1.2900, 1.2872, 1.2800
GBP/USD
Turns the near-term focus lower after corrective attempt from 1.5449, yesterday’s low, faced strong barrier at initial resistance at 1.5530. Fresh weakness briefly below 1.5449 would signal test of key short-term support at 1.5422, below which to focus 1.5328 and year’s low at 1.5271. Only bounce above 1.5600 would ease immediate bear pressure and signal hourly double bottom pattern..
Res: 1.5500, 1.5535, 1.5550, 1.5560
Sup: 1.5446, 1.5422, 1.5400, 1.5328
USD/JPY
Maintains positive near-term tone, as the pair breaks above initial barriers at 78.00/10. Holding above here keeps the focus higher for retest of 78.27, next resistance, with extension towards 79.00 seen on a break. 20 day SMA on 4H chart at 77.85, underpins, while only break below 77.63 would soften the near-term structure.
Res: 78.14, 78.27, 78.44, 79.00
Sup: 77.85, 77.63, 77.48, 77.28
USD/CHF
Probes levels above 0.9500 barrier, with firm break here to signal further extension of broader uptrend from 0.8566, 27 Oct higher low and expose 0.9600, with significant barriers at 0.9750/70 zone. From the other side, daily studies are approaching oversold zone that may signal stronger correction. Strong supports lie at 0.9400/0.9385.
Res: 0.9504, 0.9546, 0.9600, 0.9650
Sup: 0.9430, 0.9400, 0.9385, 0.9340
Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EUR/USD
Maintains negative tone that was confirmed on break below significant 1.3000 handle. Losses have so far tested 1.2945, med-term bear-channel support, with break lower to look for test of 1.2900, ahead of critical point at 1.2872, 09 Jan yearly low. Corrective bounces on oversold conditions, face initial resistance at 1.3063, while further rallies should not exceed the next array of barriers at 1.3100/60. Only sustained break above 1.3200 would delay immediate bears.
Res: 1.3000, 1.3063, 1.3100, 1.3160
Sup: 1.2977, 1.2945, 1.2900, 1.2872
GBP/USD
Has fully retraced the recent 1.5422/1.5777 corrective phase, as break below critical support at 1.5422, extended losses close to 1.5400 mark, where temporary support was found. Negative near-term studies keep the downside favored, with break below 1.5400 to expose next support at 1.5328, 22/23 Sep lows, ahead of test of key support and longer-term range floor at 1.5271, 02 Oct yearly low. Strong resistance at 1.5530, also 4h 20 day SMA, is expected to cap corrective bounce, while only regain of 1.5600 would signal stronger correction.
Res: 1.5500, 1.5535, 1.5550, 1.5560
Sup: 1.5432, 1.5422, 1.5407, 1.5400
USD/JPY
Holds steady just above 78.00, moving in a narrow range, as price action above 78.00 barrier remains capped at 78.15 for now. Initial support zone at 78.00/77.90, also 20 day SMA and main bull trendline, comes under pressure, as hourly studies are losing momentum, risking deeper reversal. However, wider picture’s bulls remain in play while 77.60/50, key near-term support zone contains dips, with focus at 78.27, 29 Nov previous high.
Res: 78.15, 78.27, 78.44, 79.00
Sup: 78.00, 77.90, 77.63, 77.48
USD/CHF
Corrects the recent strong rally that cleared 0.9500, psychological barrier and extended gains to 0.9545 so far. Upside remain in focus, as overall bullish structure stays intact, with today’s SNB decision expected to further support the pair. Next target lies at 0.9600, while corrective dips should find good support above 0.9400 handle.
Res: 0.9545, 0.9600, 0.9650, 0.9700
Sup: 0.9476, 0.9430, 0.9400, 0.9385
Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EUR/USD
Remains in near-term consolidative mode, moving in a narrow range around 1.3000 level. Dips were contained at yesterday’s low at 1.2980 zone, signaling possible basing attempt, ahead of stronger correction of the latest steep decline from 1.3547, 02 Dec lower high. Daily studies, approaching oversold zone, would support bounce. Hourly neutral to positive outlook, sees scope for test of initial barrier at 1.3042, ahead of key near-term barrier at 1.3084, 16 Dec high, also near Fib 50% of the 1.3235/1.2945 downleg, break of which is required to spark an extension towards 1.3100 and next strong resistance at 1.3145, 04 Oct low. On the downside, loss of 1.2980 zone to expose 1.2945, loss of which would accelerate losses and focus key med-term support at 1.2872, annual low, posted on 09 Jan.
Res: 1.3042, 1.3047, 1.3082, 1.3100
Sup: 1.3000, 1.2984, 1.2956, 1.2945
GBP/USD
Improving hourly studies support the fresh attempt higher, as yesterday’s upside rejection and subsequent pullback found support at 1.5500 zone. Holding above broken bear-trendline off 1.5768 high, keeps the near-term focus higher, however, break above 1.5560 barrier, where the recent gains were capped and 1.5585, Fib 50% of 1.5768/1.5407 decline, is required to sustain recovery and expose 1.5600/35 next. Otherwise, risk would be of fresh weakness under 1.5500 mark and possible retest of key near-term support at 1.5407.
Res: 1.5543, 1.5556, 1.5580, 1.5600
Sup: 1.5506, 1.5492, 1.5463, 1.5432
USD/JPY
Hovers around 78.00 mark, as the upside remains capped at 78.10/15, trendline resistance / previous highs, as the triangle pattern is forming on hourly chart. Near-term studies are losing traction that may increase risk of downside extension towards 77.75, triangle support and key levels at 77.60/50. Four-hour 20 day SMA at 77.90, holds the downside for now, however, only break above 78.15 would improve near-term outlook and open way for fresh bull-leg towards 79.00 barrier.
Res: 78.04, 78.15, 78.27, 78.44
Sup: 77.90. 77.80, 77.60, 77.48
USD/CHF
Hourly outlook sees the pair in neutral mode, moving in a narrow range around 0.9360, Fib 38.2% of 0.9069/0.9545 upleg, where a temporary support was found,. Wider picture, however, Sees scope for fresh leg lower, as 4h MACD breaks below the midline and 20 day SMA, currently at 0.9390, limits the upside. Break lower to expose 0.9328, ahead of psychological 0.9300 support, also Fib 50%, below which to signal top and open way for stronger reversal. Only regain of 0.9400/50 would ease bear pressure, with break above 0.9500 to re-focus 0.9545 high.
Res: 0.9400, 0.9413, 0.9427, 0.9475
Sup: 0.9346, 0.9340, 0.9300, 0.9285
Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EUR/USD
The pair returns to weakness after yesterday’s gains spiked to 1.3200 barrier, but failure to break higher resulted in sharp reversal that nearly fully erased rally from 1.3000. Temporary support was found at 1.3024, with fresh attempt higher facing initial resistance at 1.3084, yesterday’s intraday high / 16 Dec high. Break here and 1.3100 is required to resume higher for possible retest of 1.3200, however, lack of momentum on 4H studies, may limit gains for now. On the downside, 1.3024 offers initial support, ahead of strong 1.3000 zone support, where also bull trendline off 1.2945 low lies and break below here and next support at 1.2980, to confirm lower top at 1.3200 and trigger fresh weakness towards 1.2945, with key m/t support at 1.2872 in sight.
Res: 1.3084, 1.3100, 1.3130, 1.3145
Sup: 1.3032, 1.3024, 1.3000, 1.2980
GBP/USD
Two days strong rally tested key near-term barrier at 1.5768/77, 12 Dec / 30 Nov peaks, where gains stalled, with subsequent pullback now attempting to base at 1.5650 zone. Weakening hourly studies suggest further weakness, with Fib 38.2% at 1.5635 coming first, ahead of 20 day SMA at 1.5620 and 1.5600 zone, figure support / Fib 50%. Loss of the latter to confirm that the pair remains within short-term 1.5407/1.5777 range, as daily structure remains capped by 55 day SMA. To improve near-term outlook, break above 1.5700 barrier is required, while clearance of 1.5777 to confirm double bottom and spark fresh extension of near-term bull phase.
Res: 1.5700, 1.5750, 1.5768, 1.5777
Sup: 1.5650, 1.5628, 1.5600, 1.5590
USD/JPY
Fresh strength from 77.60 higher base, retests key near-term resistance zone at 78.00/15, also trendline resistance, break of which to open way for fresh extension higher and test of another strong barrier at 78.27. Four-hour chart studies are turning positive, with 20 day SMA at 77.90, underpinning the structure. Only loss of 77.60/50 would be bearish.
Remains at the back foot, as 78.15 barriers stay intact for now, with reversal under 78.00 handle and break below triangle support and previous low at 77.80/70, increases risk of attempt at key short-term support levels at 77.60/50, below which to weaken short-term structure and possibly open 77.00.
Res: 78.11, 78.15, 78.27, 78.44
Sup: 78.00, 77.60, 77.48, 77.12
USD/CHF
Bounce off 0.9242, yesterday’s low, also Fib 61.8% of 0.9069/0.9545 upleg, faces strong barrier at 0.9400 zone, and while holding below here, risk remains at the downside, as hourly studies are pointing lower. Break below immediate support at 0.9330 to re-focus 0.9300 figure support / daily 20 day SMA, with retest of 0.9242 seen on a break. Only break above 0.9400 and regain of 0.9450 would signal higher low and turn focus towards 0.9500/45.
Res: 0.9390, 0.9400, 0.9450, 0.9500
Sup: 0.9330, 0.9300, 0.9290, 0.9265