Short Term Technical Analysis for Majors

[WindsorBrokers]

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

EUR/USD

Today’s gap open marks full retracement of the near-term recovery phase from 1.3361, 26 Sep low, also Fib 76.4% of 1.2872/1.4938 ascend and confirms short-term downtrend from 1.4548, 29 Aug high. Break below 1.3332, 06 Aug 2010 high, looks for test of initial support at 1.3300, below which opens 1.3243, 16 Jan low, with potential attempt towards 1.3000 not ruled out. Overextended hourly studies, however, suggest corrective bounce before bears resume, with 1.3360 zone offering initial resistance, ahead of Friday’s / 22 Sep lows at 1.3383 and 20 day MA at 1.3400 zone. Only regain of lower high at 1.3460 would ease immediate bear pressure and signal stronger correction.

Res: 1.3365, 1.3383, 1.3400, 1.3415
Sup: 1.3312, 1.3300, 1.3243, 1.3200

GBP/USD

Extends near-term bear-trend after gains from 1.5326, 22 Sep low, were capped at 1.5700 zone. Loss of 1.5540/30, 29/30 Sep lows and psychological support at 1.5500, sees scope for further weakness, with clearance of 1.5475, Fib 61.8% of 1.5326/1.5714 upleg, required to accelerate losses towards 1.5430/20, 26/22 Sep lows and figure support at 1.5400, with key level at 1.5326 to come in focus on a break. Corrective bounce on oversold hourly conditions faces strong resistance at 1.5580/1.5600 zone, where gains should be capped.

Res: 1.5531, 1.5545, 1.5583, 1.5600
Sup: 1.5490, 1.5475, 1.5430, 1.5420

USD/JPY

Friday’s close above 77.00 barrier maintains near-term positive tone for fresh attempt to break above the seven-week range. Previous high of 77.27, posted on 15 Sep, has so far been tested, with 77.00 level containing dips, ahead of fresh attempt towards initial barriers at 77.85/78.00. Near-term studies remain supportive, with 20 day MA at 76.75, underpinning the advance.

Res: 77.27, 77.68, 77.85, 78.00
Sup: 76.69, 76.49, 76.41, 76.32

USD/CHF

Returns to strength after corrective pullback from 0.9180, 22 Sep high, found good support at 0.8920 zone, also previous high, posted on 12 Sep. Fresh gains are under way, boosted by today’s higher open, heading towards initial barrier at 0.9141, 26 Sep high, ahead of possible retest of 0.9180, above which to open fresh bull phase. Golden cross on daily chart supports the advance, with near-term studies pointing higher. Overbought hourly / 4-hour conditions, however, see scope for brief correction before bulls resume, with 0.9080 offering initial support.

Res: 0.9127, 0.9141, 0.9180, 0.9200
Sup: 0.9100, 0.9080, 0.9030, 0.9000

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:00 GMT)

EUR/USD

Maintains short-term bears after today’s gap lower opening extended losses below 1.3361, completing the 1.3361/1.3689 correction. Mild recovery was initially capped by hourly 20 day MA, with fresh attempt at 1.3300 support under way. Below here opens 1.3243, 16 Jan low next. At the upside, 1.3380 caps for now, while only regain of 1.3460 would delay immediate bears. Firmly bearish daily structure is expected to accelerate losses after break below bear channel from May, with 1.3000 support coming in focus.

Res: 1.3380, 1.3400, 1.3415, 1.3460
Sup: 1.3300, 1.3243, 1.3200, 1.3152

GBP/USD

Break below bear channel off 1.5714, 29 Sep high, extended losses through 1.5500 handle, before recovery spiked to 1.5585, today’s high, where gains were capped. Fresh weakness has o far reached 1.5480 low, just ahead of Fib 61.8% of 1.5326/1.5714 corrective leg. Break here to open 1.5430/20, with retest of 1.5326 not ruled out, as near-term studies moved below their midlines and bears maintained by hourly 20 day MA.

Res: 1.5531, 1.5545, 1.5583, 1.5600
Sup: 1.5475, 1.5430, 1.5420, 1.5400

USD/JPY

Renewed attempt above 77.00 barrier ran out of steam again after regaining previous high at 77.27. Immediate reversal under 77.00 mark risks return to 7-week range, however, break below 76.65, trendline support, required to confirm, as near-term positive tone off 77.50 persists while the trendline contains dips. On the upside, break above 77.27 opens 77.85/78.00.

Res: 76.95, 77.09, 77.27, 77.68
Sup: 76.70, 76.65, 76.49, 76.41

USD/CHF

Returns to strength after corrective pullback from 0.9180, 22 Sep high, found good support at 0.8920 zone, also previous high, posted on 12 Sep. Fresh gains are under way, boosted by today’s higher open, heading towards initial barrier at 0.9141, 26 Sep high, ahead of possible retest of 0.9180, above which to open fresh bull phase. Golden cross on daily chart supports the advance, with near-term studies pointing higher. Overbought hourly / 4-hour conditions, however, see scope for brief correction before bulls resume, with 0.9080 offering initial support.

Res: 0.9127, 0.9141, 0.9180, 0.9200
Sup: 0.9075, 0.9030, 0.9000, 0.8985

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:30 GMT)

EUR/USD

The pair came under strong pressure after break below Fib 50% of 1.1875/1.4938 ascend at 1.3400, losing significant supports at 1.3361 and 1.3243 and channel support at 1.3210, to extend losses to 1.3163 so far. Near-term studies continue to point lower, with 1.3100 in focus, ahead of psychological level at 1.3000. Corrective bounce on oversold hourly conditions was so far capped by hourly 20 day MA at 1.3230, however, further correction into 1.3300/50 zone is not ruled out, before bears take control. Only regain of 1.3380/1.3400 barriers would ease the bear-pressure.

Res: 1.3200, 1.3225, 1.3284, 1.3300
Sup: 1.3163, 1.3152, 1.3100, 1.3050

GBP/USD

Break below bear channel support off 1.5714, 29 Sep high, accelerated losses through 1.5500 handle, to test initial targets at 1.5430/20 zone, also Fib 76.4% of 1.5326/1.5714 upleg. Hourly 20 day MA limits for now corrective action, with fresh bears looking for extension through 1.5420 to challenge key short-term support at 1.5326, 22 Sep low, below which to confirm an end of corrective phase open fresh leg of the broader downtrend from 1.6617, 19 Aug low.

Res: 1.5464, 1.5482, 1.5500, 1.5531
Sup: 1.5420, 1.5400, 1.5373, 1.5326

USD/JPY

Weakens the near-term tone after renewed attempt above 77.00 barrier ran out of steam again at previous high at 77.27. Immediate reversal under 77.00 mark risks return to 7-week range, with break below 76.65, trendline support, revisiting 77.50 and signaling further range-trade. On the upside, 77.00 remains key near-term barrier while break above 77.27 opens 77.85/78.00.

Res: 76.73, 76.95, 77.09, 77.27
Sup: 76.50, 76.41, 76.32, 76.10

USD/CHF

Surged through 0.9141/80 and psychological barrier at 0.9200 after corrective pullback from yesterday’s high at 0.9127 found support at 0.9075, where the fresh strength emerged. Clearance of 0.9200 opens way for further gains, with 0.9338, 27 Mar high, seen next, ahead of Fib 50% of 1.1730.0.7067, 2010/2011 descend. Near-term studies continue to point higher, however, overbought conditions may trigger corrective pullback ahead of fresh rally.

Res: 0.9250, 0.9300, 0.9338, 0.9396
Sup: 0.9180, 0.9138, 0.9095, 0.9075

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:30 GMT)

EUR/USD

Near-term price action sees a consolidation of the recent losses that posted fresh 9-month low at 1.3145 earlier today. Regain of 1.3200 handle opens way towards 1.3225, today’s high, break of which is needed to trigger stronger correction, as 4-hour chart conditions are still in oversold zone. strong resistances lie at 1.3380/1.3400. Wider picture, however, remains bearish and break below 1.3145 to open 1.3100 and key level at 1.3000 on a break.

Res: 1.3225, 1.3284, 1.3300, 1.3350
Sup: 1.3145, 1.3100, 1.3050, 1.3000

GBP/USD

Break below bear channel support off 1.5714, 29 Sep high, accelerated losses through 1.5500 handle, to test initial targets at 1.5430/20 zone, also Fib 76.4% of 1.5326/1.5714 upleg. Corrective bounce was short-lived, with hourly 20 day MA capping at 1.5460. Fresh weakness under 1.5400 handle has so far reached 1.5363, en-route to the key support at 1.5326, 22 Sep low, below which to confirm an end of corrective phase open fresh leg of the broader downtrend from 1.6617, 19 Aug low.

Res: 1.5400, 1.5420, 1.5464, 1.5500
Sup: 1.5363, 1.5326, 1.5295, 1.5250

USD/JPY

Weakens the near-term tone after renewed attempt above 77.00 barrier ran out of steam again at previous high at 77.27. Immediate reversal under 77.00 mark risks return to 7-week range, with break below 76.65, trendline support, revisiting 76.50 and signaling further range-trade. On the upside, 77.00 remains key near-term barrier while break above 77.27 opens 77.85/78.00.

Res: 76.78, 76.95, 77.09, 77.27
Sup: 76.50, 76.41, 76.32, 76.10

USD/CHF

Surged through 0.9141/80 and psychological barrier at 0.9200 after corrective pullback from yesterday’s high at 0.9127 found support at 0.9075, where the fresh strength emerged. Clearance of 0.9200 opens way for further gains, with 0.9338, 27 Mar high, seen next, ahead of Fib 50% of 1.1730.0.7067, 2010/2011 descend. Near-term studies continue to point higher, however, overbought conditions may trigger corrective pullback ahead of fresh rally.

Res: 0.9250, 0.9300, 0.9338, 0.9396
Sup: 0.9180, 0.9138, 0.9095, 0.9075

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:30 GMT)

EUR/USD

Corrects the latest bear leg from 1.3677, 29 Sep high that hit fresh 9-month low at 1.3145 yesterday. Recovery was initially capped just under main near-term barrier at 1.3380, with subsequent pullback being contained at 1.3260, hourly 20 day MA. According to the wave principles, current wave ‘c’ of the fall from 1.4548, should extend to 1.3465, where Fib 61.8% of 1.3377/1.3145 downmove lies. Hourly studies remain supportive, however, daily outlook shows bears firmly in play, with 1.3000 in short-term focus.

Res: 1.3368, 1.3380, 1.3400, 1.3465
Sup: 1.3282, 1.3260, 1.3232, 1.3168

GBP/USD

Bounce from yesterday’s low at 1.5339, just above key short-term support at 1.5326, regained initial barrier at 1.5465, extending to the levels just under 1.5500 handle, over Fib 38.2% retracement of 1.5714/1.5339 descend, where gains stalled. Corrective pullback found support at 1.5411, with hourly 20 day MA maintaining near-term positive tone. Upside clearance of 1.5500 is required to resume near-term recovery and expose 1.5530/40, initial barriers, ahead of Fibonacci level at 1.5570 and 03 Oct high at 1.5585, to possibly signal a double bottom. Wider picture’s outlook, however, remains bearish, with break below 1.5326 to resume weakness from 1.6617 and expose next significant support at 1.5295, 05 Sep 2010 low.

Res: 1.5494, 1.5500, 1.5530, 1.5542
Sup: 1.5411, 1.5369, 1.5326, 1.5295

USD/JPY

Yesterday’s fresh attack at 77.00 barrier was unsuccessful again, as gains stalled at 76.97 and returned to the previous range. Hourly and 4-hour studies continue to hover around their midlines, with 20 day MA, currently at 76.80, capping the upside. Clear break above 77.00 is required to trigger stronger action and move the pair out of the recent range, with regain of minimum 78.00 level to confirm. On the downside, initial support lies at 76.50, while loss of key levels at 76.00/75.93 to open fresh phase lower.

Res: 76.97, 77.09, 77.27, 77.68
Sup: 76.50, 76.41, 76.32, 76.10

USD/CHF

Maintains short-term positive tone after yesterday’s reversal from 0.9260, fresh 5-month high, was contained at 0.9145, also previous high posted on 26 Sep. Subsequent bounce regained 0.9200 handle, regaining momentum for fresh attack at 0.9260, above which to resume bull phase from Aug record low at 0.7067 and focus 0.9338, 27 Mar high and 0.9400, Fibonacci level. On the downside, 0.9145 offers initial support and potential break here to weaken the near-term structure in favor of deeper pullback, likely to 0.8920, key short-term support.

Res: 0.9232, 0.9247, 0.9260, 0.9300
Sup: 0.9180, 0.9145, 0.9127, 0.9100

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:30 GMT)

EUR/USD

Maintains near-term positive tone off yesterday’s fresh 9–month low at 1.3145, as hourly 20 day MA holds the downside. However, overnight’s high at 1.3370, being retested today, keeps gains limited for now. Hourly studies remain supportive for fresh attempt through 1.3360/80 barriers to open Fibonacci level at 1.3410, while 4-hour outlook may signal risk of lower top and fresh weakness, as daily studies maintain bearish tone, with break below 1.3145 to focus key psychological level at 1.3000.

Res: 1.3370, 1.3380, 1.3400, 1.3465
Sup: 1.3280, 1.3260, 1.3232, 1.3168

GBP/USD

Bounce from yesterday’s low at 1.5339, just above key short-term support at 1.5326, regained initial barrier at 1.5465, extending to the levels just under 1.5500 handle, over Fib 38.2% retracement of 1.5714/1.5339 descend, where gains were capped on renewed attempt. Clearance of 1.5500 barrier is required to resume near-term recovery and expose 1.5530/40, initial barriers, ahead of Fibonacci level at 1.5570 and 03 Oct high at 1.5585, to possibly signal a double bottom. Wider picture’s outlook, however, remains bearish, with current rally seen corrective ahead of fresh leg lower. Break below 1.5326 to resume weakness from 1.6617 and expose next significant support at 1.5295, 05 Sep 2010 low.

Res: 1.5494, 1.5500, 1.5530, 1.5542
Sup: 1.5411, 1.5369, 1.5326, 1.5295

USD/JPY

Yesterday’s fresh attack at 77.00 barrier was unsuccessful again, as gains stalled at 76.97 and returned to the previous range. Hourly and 4-hour studies continue to hover around their midlines, with 20 day MA, currently at 76.80, capping the upside. Clear break above 77.00 is required to trigger stronger action and move the pair out of the recent range, with regain of minimum 78.00 level to confirm. On the downside, initial support lies at 76.50, while loss of key levels at 76.00/75.93 to open fresh phase lower.

Res: 76.97, 77.09, 77.27, 77.68
Sup: 76.60, 76.50, 76.41, 76.32

USD/CHF

Maintains short-term positive tone after yesterday’s reversal from 0.9260, fresh 5-month high, was contained at 0.9145, also previous high posted on 26 Sep. Subsequent bounce regained 0.9200 handle, regaining momentum for fresh attack at 0.9260, above which to resume bull phase from Aug record low at 0.7067 and focus 0.9338, 27 Mar high and 0.9400, Fibonacci level. On the downside, 0.9145 offers initial support and potential break here to weaken the near-term structure in favor of deeper pullback, likely to 0.8920, key short-term support.

Res: 0.9237, 0.9247, 0.9260, 0.9300
Sup: 0.9160, 0.9145, 0.9127, 0.9100

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:30 GMT)

EUR/USD

Consolidates the recent gains from 1.3145, 9-month low, after 1.3380 capped the correction. The pair remains within 100 pips range in past two days, with hourly studies still supportive. While 1.3300/1.3280 initial supports stays intact, scope exists for fresh attack at key near-term barrier at 1.3380, above which to open further recovery and expose 1.3410/70 zone, Fib 50% / 61.8% of 1.3677/1.3145 downleg. On the downside, loss of 1.3280 support would weaken the structure and turn focus towards 1.3145.

Res: 1.3356, 1.3370, 1.3380, 1.3400
Sup: 1.3319, 1.3300, 1.3280, 1.3260

GBP/USD

Maintains short-term negative tone off 1.5714 high after bounce from 1.5339, 04 Oct low, just above key support at 1.5326, remains capped under 1.5500 barrier, over Fib 38.2% of 1.5714/1.5339 decline. On the downside, 1.5400 zone contains dips for now, keeping hopes for further recovery alive. Break above 1.5500 is required to signal temporary bottom and resume gains towards 1.5530/40, then 1.5570/85. Loss of 1.5400 support, however, opens 1.5339/26 for retest.

Res: 1.5483, 1.5494, 1.5530, 1.5542
Sup: 1.5400, 1.5390, 1.5369, 1.5339

USD/JPY

Repeated failure at 77.00 barrier, seen yesterday, after gains stalled at 77.05, with subsequent pullback into 77.60 zone. Hourly and 4-hour studies continue to hover around their midlines, with near-term outlook slightly aligned to the upside, as series of marginally higher lows from 76.10 keeping focus at 77.00. Break here is required to spark fresh gains and take the pair out of the recent range, with regain of minimum 78.00 level to confirm. On the downside, initial support lies at 76.50, while loss of key levels at 76.00/75.93 to open fresh phase lower.

Res: 77.00, 77.09, 77.27, 77.68
Sup: 76.60, 76.50, 76.41, 76.32

USD/CHF

Maintains short-term positive tone after reversal from 0.9260, fresh 5-month high, found support at 0.9160/45 zone. Fresh rally through 0.9260 cleared initial barrier at 0.9300, opening way for test of our targets at 0.9338, 27 Mar high and 0.9400 Fib 50% of 1.1730/0.7067 descend. Near-term studies remain supportive, with initial support at 0.9200 zone, also 20 day MA, expected to hold.

Res: 0.9300, 0.9310, 0.9338, 0.9400
Sup: 0.9255, 0.9215, 0.9200, 0.9145

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:30 GMT)

EUR/USD

Today’s attempt through initial barrier at 1.3380 was short-lived, as gains stalled just under 1.3400 handle. Subsequent fall through bull trendline off 1.3145 and 1.3300/1.3280, strong near-term supports, weakens immediate structure, as the pair dipped to 1.3240 so far, Fib 61.8% of 1.3145/1.3397 upleg. Hourly studies, breaking below their midlines and 20 day MA above the price, increase risk of revisiting key near-term support at 1.3145, as the wider picture remains bearish and 1.3400 capping the upside. Only break above the latter would revive near-term bulls for possible attempt towards 1.3410/70, Fibonacci levels.

Res: 1.3320, 1.3365, 1.3380, 1.3400
Sup: 1.3240, 1.3200, 1.3145, 1.3100

GBP/USD

Fell sharply through key support levels at 1.5326 and 1.5295 after renewed attempt higher was again capped at 1.5500 zone. Losses hit 1.5271 low so far, 14-month fresh low, confirming an end of the short-term corrective action and resumption of broader downtrend from 1.6617, 19 Aug high. Focus comes at 1.5240/00 and 1.5125, levels last seen in July 2010. However, hourly studies, currently in oversold territory, suggest corrective bounce may precede fresh bear leg, with immediate resistance at 1.5330 zone ahead of 1.5400, previous consolidation range floor, that is expected to cap.

Res: 1.5326, 1.5339, 1.5400, 1.5410
Sup: 1.5271, 1.5240, 1.5200, 1.5150

USD/JPY

Remains in a recent 50-pips range, as yesterday’s attempt higher stalled at 77.05, with subsequent pullback into 77.55 zone, where dips were contained for now. Hourly and 4-hour studies continue to hover around their midlines, with today’s brief break below bull trendline off 76.10, suggesting possible extension lower and test of broader range floor at 76.10/00, with break below 76.50 required to confirm. Initial barriers lie at 76.85/77.00 zone and only clear break above the latter to improve near-term outlook.

Res: 76.85, 77.00, 77.09, 77.27
Sup: 76.55, 76.50, 76.41, 76.32

USD/CHF

Maintains short-term positive tone after reversal from 0.9260, fresh 5-month high, found support at 0.9160/45 zone. Fresh rally through 0.9260 briefly broke above initial barrier at 0.9300, with clear break here to open way for test of our targets at 0.9338, 27 Mar high and 0.9400 Fib 50% of 1.1730/0.7067 descend. Near-term studies remain supportive, with initial support at 0.9200 zone, also 20 day MA, expected to hold.

Res: 0.9300, 0.9310, 0.9338, 0.9400
Sup: 0.9221, 0.9200, 0.9160, 0.9145

 

[WindsorBrokers]

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

EUR/USD

Returned to strength, extending its three day rally from 1.3145, 9-month low. Gains were initially capped just under 1.3400 barrier, with sharp fall after ECB’s rate announcement weakened near-term structure, but found support at Fib 61.8% of the initial 1.3145/1.3397 rally. Fresh strength on ECB’s decision to introduce more aggressive liquidity measures cleared initial barrier at 1.3400 zone, also Fib 50% of 1.3677/1.3145 downleg and extending gains to 1.3450 so far, just under next Fibonacci level at 1.3475. Near-term studies remain supportive for further extension higher, with clearance of 1.3475/1.3500 to expose 1.3525, bear trendline off 1.3677 high. Downside is for now supported at 1.3400/1.3380.

Res: 1.3450, 1.3475, 1.3500, 1.3520
Sup: 1.3400, 1.3380, 1.3300, 1.3280

GBP/USD

Eases the bear pressure after yesterday’s sharp fall through key supports at 1.5326/1.5295 found ground at 1.5271, fresh 14-month low. Return to the recent consolidation range and retest of its upper boundary, keeps hopes of further recovery alive, however, clear break above 1.5500 barrier is required to confirm and expose 1.5540/1.5600 levels. Key short term barrier lies at 1.5700 zone and break here to signal double bottom and stronger reversal of 1.6617/1.5271 descend, otherwise, lower top and fresh extension lower would be the likely scenario, as daily structure remains bearish.

Res: 1.5497, 1.5540, 1.5585, 1.5600
Sup: 1.5446, 1.5400, 1.5373, 1.5340

USD/JPY

Remains in a recent 50-pips range, as yesterday’s attempt higher stalled at 77.05, with subsequent pullback into 77.55 zone, where dips were contained for now. Hourly and 4-hour studies continue to hover around their midlines, as break below bull trendline off 76.10, suggesting possible extension lower and test of broader range floor at 76.10/00, with break below 76.50 required to confirm. Initial barriers lie at 76.85/77.00 zone and only clear break above the latter to improve near-term outlook.

Res: 76.85, 77.00, 77.09, 77.27
Sup: 76.57, 76.50, 76.41, 76.32

USD/CHF

Extends the near-term consolidation after two unsuccessful attempts to clear 0.9300 barrier. Immediate reversal remains supported at 0.9200 zone for now, however, weakening near-term studies risk retest of strong support at 0.9140, loss of which would signal stronger correction and possible reversal towards key support at 0.8920. On the upside, 0.9300 zone caps for now, with potential break here to expose 0.9338/0.9400.

Res: 0.9244, 0.9300, 0.9310, 0.9338
Sup: 0.9184, 0.9160, 0.9145, 0.9107

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:30 GMT)

EUR/USD

Extends gains from 1.3242, yesterday’s higher low, clearing Fib 61.8% level at 1.3470 and 1.3500 handle, to test bear trendline from 1.3935. Break here is required to resume short-term bulls from 1.3145 and open way towards 1.3600 and 1.3677, key near-term barrier. Near-term studies maintain bullish tone, with pullback on overbought hourly conditions expected to find support at 1.3400/1.3380 zone.

Res: 1.3500, 1.3516, 1.3585, 1.3600
Sup: 1.3430, 1.3400, 1.3380, 1.3300

GBP/USD

Maintains near-term bulls from yesterday’s low at 1.5271, with the latest strength through 1.5500/40 barriers, so far testing 1.5600. Subsequent corrective easing on overbought hourlies, needs to find ground at 1.5500/1.5480 zone, to keep bulls intact. Lift above 1.5600 to expose main bear-trendline off 1.6617, at 1.5680 and key short-term resistance at 1.5714. Only loss of 1.5420/00 supports would put near-term bulls on hold.

Res: 1.5600, 1.5664, 1.5680, 1.5714
Sup: 1.5500, 1.5480, 1.5430, 1.5400

USD/JPY

Remains in a recent 50-pips range, as yesterday’s attempt higher stalled at 77.05, with subsequent pullback into 77.55 zone, where dips were contained for now. Hourly and 4-hour studies continue to hover around their midlines, as break below bull trendline off 76.10, suggesting possible extension lower and test of broader range floor at 76.10/00, with break below 76.50 required to confirm. Initial barriers lie at 76.85/77.00 zone and only clear break above the latter to improve near-term outlook.

Res: 76.90, 77.00, 77.09, 77.27
Sup: 76.57, 76.50, 76.41, 76.32

USD/CHF

Continues to ease after upside rejection at 0.9300 barrier, with loss of initial supports at 0.9200/0.9180, opening way for deeper correction. Strong support lies at 0.9140, below which would put bulls on hold in favor of further easing towards key short-term support at 0.8920. Hourly and four-hour studies still point lower, with daily RSI in overbought territory, increasing of stronger pullback. On the upside, immediate barrier lies at 0.9220, while 0.9300/10 zone caps for now.


Res: 0.9220, 0.9244, 0.9300, 0.9310
Sup: 0.9156, 0.9145, 0.9107, 0.9075

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:30 GMT)

EUR/USD

Extends the short term strength from 1.3145 low, after Friday’s sharp reversal from 1.3523 high found support at 1.3360, previous resistance zone and 20 day MA, where the fresh rally emerged. Break through initial barriers at 1.3500, bear trendline off 1.3935 and 1.3523/40, Friday’s high / Fib 50% of 1.3935/1.3145 descend has so far tested 1.3640, Fib 61.8%, with key short-term resistance at 1.3680, 28 Sep high / Fib 38.2% of 1.4548/1.3145 descend, now in focus. Near-term studies remain positive, but overextended conditions on hourly/4-hour charts, signal possible correction ahead of fresh attempt higher. Initial support lies at 1.3480, while only break below 1.3400/1.3360 would weaken the near-term structure. Upside clearance of 1.3680 is required to confirm near-term bottom and expose 1.3800.

Res: 1.3637, 1.3690, 1.3750, 1.3800
Sup: 1.3600, 1.3555, 1.3523, 1.3500

GBP/USD

Continues to trend higher off 1.5271, 06 Oct fresh 14-month low, after MACD bullish divergence on 4-hour chart suggested bounce. Recent rally has nearly fully retraced the initial 1.5714/1.5271 downleg. Near-term studies above their centerlines support, with through 1.5714, key short-term barrier, required to signal formation of a double bottom and extend gains towards significant resistance at 1.5785, Fib 38.2% retracement of the broader 1.6617/1.5271 descend. Initial support lies at 1.5580, while below 1.5525/00 zone would be bearish.

Res: 1.5664, 1.5680, 1.5714, 1.5780
Sup: 1.5580, 1.5550, 1.5525, 1.5500

USD/JPY
Remains in a recent 50-pips range, as yesterday’s attempt higher stalled at 77.05, with subsequent pullback into 77.55 zone, where dips were contained for now. Hourly and 4-hour studies continue to hover around their midlines, as break below bull trendline off 76.10, suggesting possible extension lower and test of broader range floor at 76.10/00, with break below 76.50 required to confirm. Initial barriers lie at 76.85/77.00 zone and only clear break above the latter to improve near-term outlook.

Res: 76.90, 77.00, 77.09, 77.27
Sup: 76.57, 76.50, 76.41, 76.32

USD/CHF

Continues to ease after upside rejection at 0.9300 barrier, and 4-hour MACD bearish divergence signaled stronger correction. Loss of 0.9200 handle, with today’s break below strong support at 0.9140, accelerated losses towards 0.9000, round figure support, ahead of key level at 0.8920, below which to signal stronger reversal of the recent 0.7067/0.9310 strong uptrend. On the upside, 0.9140 now acts as resistance, while 0.9280/0.9310 zone caps for now.


Res: 0.9100, 0.9140, 0.9200, 0.9280
Sup: 0.9021, 0.9000, 0.8920, 0.8900

 

[WindsorBrokers]

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

EUR/USD

Short-term sentiment remains positive, with yesterday’s surge through 1.3500/23, trendline resistance and yesterday’s intraday high, extending gains to test key barrier at 1.3690, 28 Sep high / Fib 38.2% of 1.4548/1.3145 downleg. Current corrective easing has so far found support above 1.3600 zone, also contained by hourly 20 day MA. Positive near-term studies continue to support, with clear break above 1.3700 barrier to open way for further recovery and expose next target at 1.3800 zone, 21 sep high. On the downside, previous resistance at 1.3523/00 now offers initial support, while only loss of 1.3360 to weaken the near-term structure.

Res: 1.3652, 1.3697, 1.3750, 1.3800
Sup: 1.3600, 1.3555, 1.3523, 1.3500

GBP/USD

Extended corrective rally off 1.5271 low, after clearing 1.5644, last Friday’s high, to approach key near-term resistance at 1.5690. Subsequent pullback is seen corrective while above 1.5525/00, strong support zone, with clearance of key near-term barrier at 1.5700/14 to open 1.5785, Fib 38.2% of 1.6617/1.5721 descend and signal formation of double bottom.

Res: 1.5687, 1.5700, 1.5714, 1.5780
Sup: 1.5580, 1.5550, 1.5525, 1.5500

USD/JPY

Remains in a recent 50-pips range, as yesterday’s attempt higher stalled at 77.05, with subsequent pullback into 77.55 zone, where dips were contained for now. Hourly and 4-hour studies continue to hover around their midlines, as break below bull trendline off 76.10, suggesting possible extension lower and test of broader range floor at 76.10/00, with break below 76.50 required to confirm. Initial barriers lie at 76.85/77.00 zone and only clear break above the latter to improve near-term outlook.

Res: 76.90, 77.00, 77.09, 77.27
Sup: 76.57, 76.50, 76.41, 76.32

USD/CHF

Extends corrective pullback after upside rejection at 0.9300 barrier, and 4-hour MACD bearish divergence signaled correction. Loss of 0.9200/0.9140 supports accelerated losses to test 0.9000 so far, ahead of key level at 0.8920, below which to allow stronger correction reversal of the recent 0.7067/0.9310 strong uptrend. On the upside, 0.9140 now acts as resistance, while 0.9280/0.9310 zone caps for now.

Res: 0.9075, 0.9100, 0.9140, 0.9200
Sup: 0.9000, 0.8920, 0.8900, 0.8842

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:30 GMT)

EUR/USD

Remains in a near-term corrective mode after gains were capped at 1.3700, key short-term resistance zone. Losses through initial 1.3600 support have so far retraced 23.6% of 1.6145/1.3697 ascend, with hourly studies pointing lower and testing their centerlines. Four-hour outlook, however, still keeps positive tone, with 1.3525/00 zone, also 20 day MA, expected to contain dips, to maintain short-term bulls. Regain of 1.3700 opens 1.3800 next, while break below 1.3400/1.3360 would be bearish.

Res: 1.3600, 1.3672, 1.3697, 1.3750
Sup: 1.3564, 1.3523, 1.3500, 1.3455

GBP/USD

Corrective pullback that followed upside rejection under key short-term barrier at 1.5700/14 still holds above 1.5600 handle, 4-hour as 20 day MA at 1.5557 and still positive studies keep focus higher. Hourly outlook weakened, with MACD attempting at midline. Downside loss of 1.5525/00 support would put bulls on hold and open way for further reversal. On the upside, clearance of 1.5700/14 barrier to signal double bottom and resume short-term uptrend towards 1.5750/85.

Res: 1.5662, 1.5687, 1.5700, 1.5714
Sup: 1.5600, 1.5580, 1.5525, 1.5500

USD/JPY

Remains in a recent 50-pips range, as yesterday’s attempt higher stalled at 77.05, with subsequent pullback into 77.55 zone, where dips were contained for now. Hourly and 4-hour studies continue to hover around their midlines, as break below bull trendline off 76.10, suggesting possible extension lower and test of broader range floor at 76.10/00, with break below 76.50 required to confirm. Initial barriers lie at 76.85/77.00 zone and only clear break above the latter to improve near-term outlook.

Res: 76.90, 77.00, 77.09, 77.27
Sup: 76.57, 76.50, 76.41, 76.32

USD/CHF

Extended corrective pullback after upside rejection at 0.9300 barrier, with break below 0.9200/0.9140 initial supports accelerated losses to test 0.9000 so far, ahead of key level at 0.8920, below which to allow stronger correction reversal of the recent 0.7067/0.9310 strong uptrend. On the upside, 0.9140 now acts as resistance, while 0.9280/0.9310 zone caps for now.


Res: 0.9120, 0.9140, 0.9200, 0.9278
Sup: 0.9000, 0.8920, 0.8900, 0.8842

 

[WindsorBrokers]

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

EUR/USD

The near-term strength off 1.3145 low is taking a break after strong barrier at 1.3700 zone capped gains. However, shallow dips that find support above 1.3525 initial support, would suggest further consolidation while 1.3700 intact. Near-term studies remain positive, while yesterday’s low at 1.3564 and 20 day MA, currently at 1.3555 hold, with clearance of 1.3700 required to resume recovery and open 1.3800 next. Only loss of 1.3525 and Fibonacci level at 1.3485 would put near-term bulls on hold.

Res: 1.3678, 1.3697, 1.3750, 1.3800
Sup: 1.3600, 1.3582, 1.3564, 1.3523

GBP/USD

The pair has so far retraced near 38.2% of the recent rally from 1.5271 low, after gains were capped on approach to key short-term barrier at 1.5714. Dips so far found support at 1.5541, just ahead of strong 1.5525/00 support zone, also Fib 38.2%. Fresh attempt higher is required to regain minimum 1.5600/20 to re-focus 1.5700 zone, otherwise, further easing would be likely, with of loss of 1.5500 handle to sour near-term tone.

Res: 1.5600, 1.5620, 1.5662, 1.5687
Sup: 1.5541, 1.5525, 1.5500, 1.5480

USD/JPY

Continues to trade within range narrowed to 25 pips, with flat near-term studies suggesting further directionless trading. Extreme points at 77.00 at the upside and 76.00 at the downside remain triggers for fresh direction of the pair.

Res: 76.75, 76.90, 77.00, 77.25
Sup: 76.60, 76.50, 76.41, 76.32

USD/CHF

Near-term price action sees corrective attempt after losses through 0.9140/00 found support at 0.9100. Upside remains capped at 0.9120, yesterday’s high and just below 0.9130, 20 day MA on 4-hour chart and previous support at 0.9140. Break here to signal stronger recovery and re-focus 0.9200, however, weakening near-term studies see risk of re-visiting 0.9000 level, where daily 20 day MA offers good support for now.

Res: 0.9109, 0.9120, 0.9140, 0.9200
Sup: 0.9051, 0.9023, 0.9000, 0.8920

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:30 GMT)

EUR/USD
Renewed strength after shallow correction to 1.3565, today’s low surged through 1.3700 barrier and extended gains above initial target at 1.3800. Near-term studies support further upside extension towards 1.3845, Fib 50% of 1.4548/1.3145 decline, above which to expose key lower top at 1.3935 and confirm short-term bottom. Immediate support lies at 1.3700, while below 1.3565 to weaken immediate structure.

Res: 1.3800, 1.3814, 1.3845, 1.3900
Sup: 1.3750, 1.3700, 1.3600, 1.3564

GBP/USD

Strong rally emerged from today’s low at 1.5541, where a pullback from 1.5684 found support. Acceleration through 1.5700 resistance zone at 1.5745, tested so far 1.5784, Fib 38.2% of 1.6617/1.5271 descend, to complete the third wave from 1.5721 and signal double bottom. Upside targets lie at 1.5800/65 initial support lies at 1.5700 zone, ahead of 20 day MA at 1.5630, where corrective pullback on overbought near-term conditions should find support.

Res: 1.5784, 1.5800, 1.5865, 1.5900
Sup: 1.5700, 1.5630, 1.5600, 1.5541

USD/JPY

Today’s attempt to break below the range was short-lived, as 76.30 offered good support, with subsequent bounce returning to 76.65. Fresh is now under way, with clearance of 77.00/25 barriers, possibly signaling an end of two month directionless trading. Regain of 78.00 is required to confirm.

Res: 77.41, 77.85, 78.00, 78.45
Sup: 77.00, 76.75, 76.60, 76.50

USD/CHF

Slumped through 0.9000 level, to the levels just above key short-term support at 0.8920, to complete wave 5 of the reversal from 0.9310 high. Near-term studies remain weak. Corrective bounce is now under way, with 0.9120/40 zone capping the upside and only break here to signal an end of correction from 0.9310 and expose 0.9200 initially. On the downside, loss of 0.8920 support to trigger further weakness for possible test of 0.8800 zone, where 200 day MA lies.

Res: 0.9000, 0.9026, 0.9051, 0.9100
Sup: 0.8933, 0.8920, 0.8900, 0.8850

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:30 GMT)

EUR/USD

Maintains short-term bullish tone after yesterday’s break above 1.3700 resistance zone triggered strong rally. Break through initial target at 1.3800, posted fresh one-month high at 1.3832, just ahead of Fibonacci 50% of the broader 1.4548/1.3145 descend at 1.3845. Subsequent consolidation faces initial support at 1.3750, with 1.3700/1.3680, where 20 day MA currently lies, and required to contain dips and keep near-term bullish structure intact. Upside break through 1.3832/45 barriers to open way for fresh stretch higher and focus 1.3900 and key resistance at 1.3935, 15 Sep high.

Res: 1.3800, 1.3832, 1.3845, 1.3900
Sup: 1.3766, 1.3750, 1.3700, 1.3600

GBP/USD

Consolidates yesterday’s strong rally through key short-term barrier that briefly broke above 1.5785, Fibonacci 38.2% of 1.6617/1.5271 downleg and extended gains to 1.5797 so far. Near-term studies remain positive, with current pullback seen corrective, marking a fourth wave of recovery from 1.5271 low. Initial supports lie at 1.5714/00, with possible further extension seen towards 1.5680/60, before bulls re-assert. On the upside, 1.5840/65 are seen on break above 1.5800.

Res: 1.5761, 1.5797, 1.5840, 1.5865
Sup: 1.5714, 1.5700, 1.5680, 1.5660

USD/JPY

Strong rally through 77.00/25 barriers extended gains to 77.48, ahead of correction. Return to the levels under 77.00, now acting as support, would weaken the near-term structure and risk return to the previous range and directionless trading. Only break above 77.48/85 would signal an improvement and open 78.00/45.

Res: 77.48, 77.85, 78.00, 78.45
Sup: 77.00, 76.75, 76.60, 76.50

USD/CHF

Maintains the near-term weak tone after loss of 0.9000 handle extended losses to test strong support at 0.8920 zone yesterday. Negative hourly/4-hour studies limited the corrective attempt under 0.9000, with fresh weakness heading towards 0.8920, below which to open key 0.8800 zone, where 200 day MA lies. On the upside, 0.9000 caps, while only regain of 0.9100/40 resistance would improve the near-term structure.

Res: 0.8981, 0.9000, 0.9026, 0.9051
Sup: 0.8920, 0.8900, 0.8850, 0.8800

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:00 GMT)

EUR/USD

Corrects the latest rally that peaked at 1.3832 yesterday. Initial consolidative attempt lost ground at 1.3750 to extend reversal, with attempt to break through initial support at 1.3700/1.3670 zone, previous high of 10 Oct / 20 day MA. Ideally, reversal here would keep bullish structure intact ahead of fresh strength and above 1.3832 to focus 1.3900/35, key short-term barriers. Only break below 1.3565, 11 Oct higher platform, also Fib 38.2% of 1.3145/1.3832 ascend, would weaken the tone and trigger deeper reversal.

Res: 1.3745, 1.3765, 1.3800, 1.3825
Sup: 1.3670, 1.3600, 1.3582, 1.3565

GBP/USD

Extension of pullback from yesterday’s high at 1.5797 was triggered on break below initial support at 1.5700 zone, with over 50% of 1.5541/1.5797 ascend been retraced for now at 1.5665. Weakening hourly studies see potential for further reversal, with trendline support at 1.5650 and Fib 61.8% at 1.5640, coming in focus. However, bullish structure of the wider picture from 1.5271, 06 Oct low, remains intact while dips hold above 1.5541, key near-term support and near Fib 50% of 1.5271/1.5697. On the upside, clearance of 1.5800 barrier opens 1.5840/65 initially.

Res: 1.5715, 1.5750, 1.5761, 1.5797
Sup: 1.5665, 1.5640, 1.5600, 1.5575

USD/JPY

Strong rally through 77.00/25 barriers that extended gains to 77.48, ran out of steam, repeating the previous scenarios of false breaks above the range. Break below 77.00 returned the pair back to the previous range, as initial strength of near-term indicators is entering negative zone again. On the downside, 76.30 offers initial support, while break here would risk test of key supports at 76.10, 21 sep low and 75.93, pair’s record low posted on 19 Aug, below which would be very bearish. Only break above 77.48 would improve the near-term tone, with clearance of barriers at 77.85/78.00 required to confirm fresh direction.


Res: 77.00, 77.25, 77.48, 77.85
Sup: 76.67, 76.55, 76.30, 76.10

USD/CHF

The five-legged descend from 0.9310, 06 Oct high, found footstep at key short-term support at 0.8920, with corrective bounce under way. Near-term structure is regaining momentum, as clearance of initial resistance at 0.9000, 10 Oct low, setting scope for further recovery. According to wave principles, the wave c should extend towards key barriers at 0.9120/40, over Fib 50% of 0.9310/0.8920, above which would bring bulls in play. Failure to regain 0.9120 barrier, however, would risk lower top ahead of fresh weakness, as loss of 0.8920 handle would increase possibilities of testing 200 day MA, currently at 0.8800 zone.

Res: 0.9051, 0.9100, 0.9120, 0.9140
Sup: 0.8970, 0.8920, 0.8900, 0.8850

 

[WindsorBrokers]

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

EUR/USD

Holds the short-term bullish structure intact after finding ground at 1.3680, strong support zone. Fresh attempt through 1.3800 barrier keeps the focus higher, however, 1.3832, high of 12 Oct and 1.3845, Fib 50% of 1.4548/1.3415 downleg, offers strong resistance for now, with break here required to extend recovery from 1.3145 and expose 1.3900, then 1.3935, 15 Sep high and key short-term barrier. On the downside, 1.3700/1.3680 zone offers good support, while only loss of 1.3565, 11 Oct low / Fib 38.2% of 1.3145/1.3832 ascend, would put bulls on hold.

Res: 1.3825, 1.3832, 1.3845, 1.3900
Sup: 1.3722, 1.3700, 1.3680, 1.3660

GBP/USD

Fresh attempt at 1.5800 barrier marks the 5th wave off 1.5271, 06 Oct low, as the 1.5797/1.5665 corrective pullback, also 4th wave was contained by 20 day MA on 4-hour chart, keeping the short-term bulls in play. Clearance of 1.5800 is required to extend the latest leg higher and expose 1.5840/65 initially, ahead of 1.5900/40 barriers, figure resistance / Fib 50% of 1.6617/1.5271 descend. Strong support and near-term break point lies at 1.5680/65 zone.

Res: 1.5800, 1.5840, 1.5865, 1.5900
Sup: 1.5721, 1.5700, 1.5687, 1.5665

USD/JPY

The near-term outlook is slightly skewed to the upside, despite the recent failure to sustain gains above 77.00 and subsequent sharp reversal into 77.60 support zone. While the latter stays intact, rally through 77.00 barrier, also daily 55 day MA is favored, with 77.25/48 in focus. Only break above 77.85/78.00 to confirm near-term bullish structure and define the direction after two months of directionless trade. On the downside, loss of initial support at 77.65 would weaken the tone, while below 76.30, to turn focus lower and expose key supports at 76.10/75.93.

Res: 77.00, 77.25, 77.48, 77.85
Sup: 76.67, 76.55, 76.30, 76.10

USD/CHF

Extends the near-term consolidation after five-legged descend from 0.9310, 06 Oct high, found good support at 0.8920, key short-term level. Hourly studies are flat, while 4-hour outlook is still negative. While initial barrier at 0.9000 caps, immediate focus remains at 0.8920 support zone, loss of which would open way for test of 0.8800 are, where 200 day MA lies. Clear break above 0.9000, however, would allow for stronger correction and expose 0.9100, ahead of key resistance zone at 0.9120/40, above which to signal bottom and re-focus 0.9200/0.9300 zone.

Res: 0.9000, 0.9038, 0.9051, 0.9100
Sup: 0.8920, 0.8900, 0.8850, 0.8800

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:30 GMT)

EUR/USD

End the near-term corrective phase from 1.3832, 12 Oct high that found good support at 1.3685. Fresh strength cleared initial barriers at 1.3832 and 1.3845, Fibonacci level, to focus 1.3900/35, key short-term resistances. Hourly MACD emerging above midline, with 20 day MA below the price, underpin the advance. Initial supports lie at 1.3800/1.3720 band, while only loss of 1.3685 to weaken the near-term tone.

Res: 1.3825, 1.3832, 1.3845, 1.3900
Sup: 1.3800, 1.3722, 1.3700, 1.3680

GBP/USD

Break above 1.5800 barrier sparks fresh extension of the upleg from 1.5665, yesterday’s higher low. Positive hourly and 4-hour studies remain supportive for attempt towards initial targets at 1.5840/65, ahead of 1.5900 figure resistance and 1.5940, Fib 50%. Previous barrier at 1.5800 now reverts to initial support, with break point at 1.5685/65 zone.

Res: 1.5840, 1.5865, 1.5900, 1.5940
Sup: 1.5800, 1.5721, 1.5700, 1.5687

USD/JPY

The near-term positive structure off 76.65 low, resulted in fresh attempt through 77.00 barrier. Gains for now remain limited at initial barrier at 77.20, however, while dips hold above 76.90, hourly 20 day MA, potential is seen for renewed attack at 77.20, to possibly challenge 77.48, 12 Oct peak. Reversal under 76.90/80, however, would weaken the near-term tone and risk return to 76.65 support zone.

Res: 77.19, 77.25, 77.48, 77.85
Sup: 76.90, 76.80, 76.67, 76.55

USD/CHF

Weakens the near-term structure as recovery attempt from 0.8920, key support, remains capped at 0.9000/38, initial barrier zone. Immediate focus turns lower, with violation of 0.8920 support to signal fresh leg lower and expose 0.8800/0.8770 support zone, where 200 day MA lies. Only regain of 0.9038 would improve the structure, with regain of 0.9100/20 required to confirm.

Res: 0.9000, 0.9038, 0.9051, 0.9100
Sup: 0.8920, 0.8900, 0.8850, 0.8800

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:30 GMT)

EUR/USD

Maintains short-term bullish structure, with last Friday’s push through 1.3845, Fibonacci 50% of 1.4548/1.3145 downleg, extended gains close to 1.3900, initial target. Consolidation above previous high at 1.3832 keeps focus on 1.3900, above which comes 1.3935, 15 Sep high and key short-term resistance. Near-term studies remain supportive, with 4-hour chart 20 day MA, currently at 1.3790, underpinning the advance. However, MACD bearish divergence on 4-hour chart, may signal stronger pullback, to focus key near-term support and breakpoint at 1.3685. Daily studies are regaining momentum, as the pair approaches 55 day MA at 1.3951, but break above 1.4000/60, strong resistance zone, where Fib 61.8% and 200 day MA lie, is required to turn daily structure positive.

Res: 1.3892, 1.3900, 1.3935, 1.4000
Sup: 1.3830, 1.3800, 1.3722, 1.3700

GBP/USD

Break through 1.5800 barrier, where Fib 38.2% of 1.6617/1.5271 also lies, confirm short-term bullish stance. Clearance of initial target at 1.5840 and approach to the next ones at 1.5865/1.5900 is now likely, as corrective pullback was contained at main short-term bull trendline, drawn off 1.5271 low. 20 day MA, currently at 1.5742, supports, with hourly outlook showing fresh momentum. Above 1.5900 to focus 1.5940, Fib 50%. Today’s low at 1.5780, offers initial support, ahead of 1.5720, while only break below 1.5685/65, strong support zone, would weaken the near-term structure and allow for deeper correction. Daily outlook is still bearish, as death cross on daily chart signals the current rally as corrective while 55/90 MA’s capping the upside.

Res: 1.5836, 1.5851, 1.5865, 1.5900
Sup: 1.5800, 1.5780, 1.5721, 1.5700

USD/JPY

Hourly outlook shows some positive tone, as pair attempts to hold above 77.00 level, however, upside remains capped by main bear-trendline, drawn off 85.50, 07 Apr high, as last Friday’s fresh attempt higher stalled at 77.44. Break above 77.50, strong near-term barrier is required to spark fresh gains and open 77.85/78.00 for retest. On the downside, 77.00 offers initial support, while loss of 76.30 to signal fresh weakness and expose key supports at 76.10/75.93. Daily studies remain flat, with break of either short-term extreme points to signal fresh direction.

Res: 77.29, 77.44, 77.48, 77.85
Sup: 77.00, 76.90, 76.80, 76.67

USD/CHF
Short-term outlook remains bearish, with violation of key support at 0.8920, increasing risk of further weakness, as low of 0.8902 was seen last Friday. Near-term consolidation above the latter is likely to be short-lived, as gains were capped at 0.8950, away from strong near-term barrier at 0.9000, clearance of which is required to ease immediate bear pressure. On the downside, clear break below 0.8920/00 to open way for test of 0.8815, main bull trendline, drawn off 0.7067, pair’s record low and 0.8970, daily 200 day MA.

Res: 0.8953, 0.9000, 0.9038, 0.9051
Sup: 0.8910, 0.8900, 0.8850, 0.8815