Short Term Technical Analysis for Majors

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD
Near-term picture turns negative, as the price slides below 1.2300 support, following an upside rejection under 1.2400 barrier, where the med-term bear-trendline off 1.3282, 01 May peak, capped gains. Initial support at 1.2260 has been tested, with 1.2300 offering initial resistance, as key short-term support at 1.2240, 10 Aug low / 50% of 1.2042/1.2441, comes in focus, with extension to 1.2200, seen on a break.

Res: 1.2300, 1.2342, 1.2386, 1.2400
Sup: 1.2258, 1.2240, 1.2220, 1.2200

GBP/USD
The pair accelerates losses on a break below 1.5655 platform, turning the near-term outlook negative and keeping strong resistance zone above 1.5700 out of reach for now. Losses have so far retraced 50% of 1.5489/1.5727 ascend, with more significant support zone at 1.5600/1.5570, coming in focus. Larger picture’s range-trade stays intact, as 200 day SMA continues to cap.

Res: 1.5673, 1.5700, 1.5717, 1.5727
Sup: 1.5634, 1.5608, 1.5600, 1.5575

USD/JPY
The pair continues to trend higher, following break above main bear-trendline at 78.70 and range top at 78.80, with surge through 79.00 barrier and 200 day SMA, looking for test of next significant barrier at 80.00. Overextended conditions on hourly chart, however, signal corrective action, with initial support at 79.00 and 78.80, previous resistance, reinforced by ascending 55 day EMA, expected to contain dips.

Res: 79.35, 79.50, 79.94, 80.09
Sup: 79.00, 78.84, 78.67, 78.59

USD/CHF
Bounce off important 0.9700 support remains sees potential for further recovery, as the price approaches important barrier at 0.9800 zone, previous high / 50% of 0.9970/0.9655 descend, with break here required to confirm higher low and resume gains. Break above 0.9800 to open 0.9850, Fib 61.8%, next, while support at 0.9750 zone, along with 4h 20/55 day EMA’s crossover, underpins.

Res: 0.9796, 0.9808, 0.9850, 0.9897
Sup: 0.9777, 0.9758, 0.9749, 0.9730

 

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

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Thanks. You can also subscribe to our live Daily Market Outlook, that start every morning at 07:00 GMT and recorded version on YouTube, on our page called Windsorbrokersforex.

For any further assistance you can contact our analyst at: [email protected]

 

[WindsorBrokers]

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

EUR/USD
The Euro rallied above 1.2300 barrier, supported by positive comments from EU and weak US data, regaining ground after past two day’s decline tested 1.2250 base. Four-hour chart shows the pair entrenched within 1.2240/1.2375 rage, as yesterday’s rally failed to break higher. However, positive sentiment, established on the latest rally, keeps the upside favored, with positive near-term studies being supportive for attempt above 1.2375/1.2400 barriers and open key short-term resistance at 1.2440. Supports lie at 1.2337 and 1.2300, with potential loss of the latter, to re-focus the lower boundaries.

Res: 1.2386, 1.2400, 1.2441, 1.2500
Sup: 1.2337, 1.2325, 1.2300, 1.2254

GBP/USD
Maintains short-term positive tone, following yesterday’s rally above 1.5700 handle, with break and close above 200 day SMA at 1.5715, seen as signal for attempt at two-month range top at 1.2770 zone. Overnight’s correction has been contained at 1.5700, now acting as initial support. However, near-term studies seem to be losing traction, with loss of 1.5700, to bring the pair back to the range. Key near-term support lies at 1.5650 zone, trendline support / Fib 38.2% of 1.5489/1.5743 ascend.

Res: 1.5727, 1.5743, 1.5766, 1.5776
Sup: 1.5700, 1.5659, 1.5646, 1.5634

USD/JPY
The near–term structure remains positive, as the pair continues to trend higher. Break above 200 day SMA and improving tone on the daily chart, sidelines immediate downside risk and opens way towards 79.60, daily Ichimoku cloud top and 80.00, round figure resistance. Any stronger corrective action, however, should be contained at above 79.00/78.80 zone, to maintain near-term bulls.

Res: 79.50, 79.60, 79.94, 80.09
Sup: 79.29, 79.10, 79.00, 78.80

USD/CHF
The pair’s yesterday’s upside rejection on approach to 0.9800 breakpoint, triggered fresh slide that accelerated losses after release of soft US data and loss of 0.9750/30 supports. Important support and higher base at 0.9700, comes under pressure loss of which to signal a break below short-term 0.9700/0.9800 consolidation band and open 0.9655 double-bottom for retest. Corrective actions have so far been capped by hourly 20 day EMA at 0.9730 zone, with any stronger rallies, required to regain minimum 0.9760 zone, to turn focus towards the upper range boundaries.

Res: 0.9732, 0.9750, 0.9796, 0.9808
Sup: 0.9704, 0.9695, 0.9655, 0.9600

 

[WindsorBrokers]

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

EUR/USD
The single currency continues to move sideways, ranging between 1.2250 and 1.2380 limits, with the range top being reinforced by daily 55 day SMA. As the price struggles to clear trendline resistance at 1.2345, with hourly studies still in the negative territory, the downside risk remains in play. Only lift above 1.2380/1.2400 would provide relief and allow for test of key short-term barrier at 1.2441. Overnight’s low at 1.2320 offers initial support, along with 1.2300, while loss of last Friday’s low at 1.2288 would turn focus towards the range floor at 1.2250 zone.

Res: 1.2362, 1.2380, 1.2386, 1.2400
Sup: 1.2320, 1.2300, 1.2288, 1.2250

GBP/USD
The near-term outlook keeps positive elements, as upside rejection at 1.5743 and subsequent reversal under 1.5700 has been contained by 55 day EMA at 1.5670. With hourly studies started to point higher and price action moving above 1.5700 handle, the upside remains favored in the near-term. However, strong resistance zone above 1.5700: 200 day SMA / last week’s highs / 90 day SMA and two-month range top, needs to be cleared to signal fresh direction, otherwise, further range trade would be the likely scenario, with risk seen on a break below 1.5670/60, last Friday’s low / trendline support that would allow for stronger correction.

Res: 1.5714, 1.5727, 1.5743, 1.5766
Sup: 1.5670, 1.5659, 1.5646, 1.5634

USD/JPY
The near–term structure remains positive, as the pair continues to trend higher, with 79.65 high reached overnight. Overall positive tone keeps the upside favored, with immediate focus at psychological 80.00 barrier. However, overextended near-term conditions loom on the near-term outlook, with corrective action likely preceding fresh rally. Immediate support lies at 79.40/33, overnight’s low / 55 day EMA, ahead of more significant 79.00 zone, where dips should ideally been contained. At the upside, clearance of 80.00 to open 80.60 next.

Res: 79.65, 79.94, 80.09, 80.61
Sup: 79.40, 79.29, 79.08, 79.00

USD/CHF
The pair comes under pressure at the beginning of the week, as last Friday’s upside rejection under important 0.9800 barrier, turn near-term focus towards 0.9700, near-term base, reinforced by 55 day SMA. As the hourly studies are weakening, increased risk is seen on a break of near-term range floor at 0.9700 that would open 0.9654, 06/07 Aug double-bottom, to possibly open way for stronger correction of broader 0.9461/0.9970 rally.

Res: 0.9747, 0.9771, 0.9796, 0.9808
Sup: 0.9705, 0.9695, 0.9655, 0.9600

 

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD
The pair gains strength at the beginning of the European session, after rather quiet Asian session trading moved around 1.2350 level. Surge through the upper boundaries of short-term range at 1.2380/1.2400, signals the fresh direction, after being entrenched within 1.2250/1.2380, one-week range. Immediate focus turns towards key short-term barrier at 1.2441, 06/07 Aug double top, break of which is required resume recovery off 1.2042, 24 July low and expose psychological 1.2500 barrier. However, overbought hourly conditions see potential for a pause of current rally, with previous resistances at 1.2400/1.2380, now being reverted to initial supports.

Res: 1.2415, 1.2441, 1.2474, 1.2500
Sup: 1.2400, 1.2380, 1.2367, 1.2340

GBP/USD
Cable moves above 200 day SMA and 1.5743, previous high, after making base at 1.5670 zone. As the latest rally dented key med-term barrier and range top at 1.5760/70 zone, the upside remains favored, as indicators on a daily chart moved into positive territory, with break here to open fresh bull phase and expose 1.5800 next. Near-term price action may be delayed by corrective pullback, as hourly studies enter overbought zone. Supports lie at 1.5743; 1.5716 and 1.5700, while only loss of 1.5670 higher base and trendline support would sideline bulls.

Res: 1.5760, 1.5766, 1.5776, 1.5800
Sup: 1.5743, 1.5716, 1.5700, 1.5670

USD/JPY
Near-term corrective easing off 79.65 on overbought hourly conditions is attempting to base at initial 79.30 support, also Fib 23.6% of 78.15/79.65 rally and 20 day EMA, As hourly indicators started to point higher, regain of 79.65 is required to confirm higher low and resume short-term bulls towards our next target and psychological barrier at 80.00. Day’s low at 79.25, now acts as initial support, ahead of more significant 79.10/78.90 zone, where Fib 38.2% and 50% levels, reinforced by ascending 55 day EMA, lie.

Res: 79.56, 79.65, 79.94, 80.09
Sup: 79.25, 79.08, 79.00, 78.90

USD/CHF
The pair remains under pressure, as fresh weakness accelerated on a break below higher base at 0.9700. As short-term structure remains negative, immediate focus turns towards 0.9655, key short support / Fib 61.8% of 0.9461/0.9970 ascend and trigger for possible extension of broader reversal from 0.9970, 24 July peak. Previous range floor and support at 0.9700, now offers initial resistance

Res: 0.9700, 0.9730, 0.9747, 0.9771
Sup: 0.9655, 0.9600, 0.9550, 0.9500

 

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD
Driven by the news, the single currency broke out of short-term range, when gains accelerated, to clear key short-term barrier at 06/07 Aug double top at 1.2440. Positive sentiment that came in play on increased risk appetite, keeps the upside in focus in the near-term, as gains approached initial target at 1.2500. Consolidative action on overbought hourlies is under way, with possible deeper reversal to be ideally contained at/above 1.2415/00 zone, where Fib 38.2% and 55 day EMA, along with psychological 1.2400 level, offer good support.

Res: 1.2477, 1.2486, 1.2500, 1.2520
Sup: 1.2440, 1.2415, 1.2400, 1.2380

GBP/USD
The pair consolidates its yesterday’s gains that broke above two-month range top and cracked our initial target at 1.5800. Shallow reversal on overbought hourly conditions has so far been contained by strong support of 20 day EMA and previous range ceiling at 1.5775, keeping the upside in focus, however, hourly indicators still pointing lower and extended conditions on 4h chart, do not rule out further corrective action. Another good support at 1.5750/40 zone, where Fib 38.2% and 50%, along with previous top and 55 day EMA, is seen as ideal reversal point in case of stronger dips. Only loss of 1.5700/1.5680, higher platform / trendline support, will sideline bulls. On the upside, lift above 1.5800 to open 1.5847, 22 May high, ahead of psychological 1.5900 barrier.

Res: 1.5803, 1.5847, 1.5900, 1.5905
Sup: 1.5765, 1.5753, 1.5743, 1.5722

USD/JPY
Remains in near-term corrective mode off 79.65, 20 Aug fresh high, where daily Ichimoku cloud capped the upside action. Temporary footstep was found at 79.15, marked as ideal reversal point, along with 79.00/78.90 zone, Fib 38.2% / 50% of 78.15/79.65 and 55 day EMA. However, still negative structure on hourly and indicators pointing lower on 4h chart, keep the downside vulnerable. From the other side, clear break above 79.65 is seen as a trigger for test of 80.00.

Res: 79.52, 79.65, 79.94, 80.09
Sup: 79.15, 79.08, 79.00, 78.90

USD/CHF
The negative sentiment keeps to drive the pair lower, as loss of initial 0.9700 platform, accelerated losses through key short-term support and double bottom at 0.9655, approaching psychological 0.9600 level. Brief consolidation off 0.9617, yesterday’s low, has not shown much of recovery, as negative short-term studies keep the downside in focus, with some delay in stronger slide, to be seen on oversold short-term conditions. Clear break below 0.9600, to expose 0.9650 zone, 90 day SMA / daily Ichimoku cloud base, ahead of psychological 0.9500 level. On the upside, regain of minimum 0.9700/20, is required to ease bear pressure, while 0.9800 zone caps for now.

Res: 0.9655, 0.9700, 0.9720, 0.9747
Sup: 0.9617, 0.9600, 0.9550, 0.9500

 

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD
Driven by the news, the single currency broke out of short-term range, when gains accelerated, to clear key short-term barrier at 06/07 Aug double top at 1.2440. Positive sentiment that came in play on increased risk appetite, keeps the upside in focus in the near-term, as gains approached initial target at 1.2500. Consolidative action on overbought hourlies is under way, with possible deeper reversal to be ideally contained at/above 1.2415/00 zone, where Fib 38.2% and 55 day EMA, along with psychological 1.2400 level, offer good support.

Res: 1.2477, 1.2486, 1.2500, 1.2520
Sup: 1.2440, 1.2415, 1.2400, 1.2380

GBP/USD
The pair consolidates its yesterday’s gains that broke above two-month range top and cracked our initial target at 1.5800. Shallow reversal on overbought hourly conditions has so far been contained by strong support of 20 day EMA and previous range ceiling at 1.5775, keeping the upside in focus, however, hourly indicators still pointing lower and extended conditions on 4h chart, do not rule out further corrective action. Another good support at 1.5750/40 zone, where Fib 38.2% and 50%, along with previous top and 55 day EMA, is seen as ideal reversal point in case of stronger dips. Only loss of 1.5700/1.5680, higher platform / trendline support, will sideline bulls. On the upside, lift above 1.5800 to open 1.5847, 22 May high, ahead of psychological 1.5900 barrier.

Res: 1.5803, 1.5847, 1.5900, 1.5905
Sup: 1.5765, 1.5753, 1.5743, 1.5722

USD/JPY
Remains in near-term corrective mode off 79.65, 20 Aug fresh high, where daily Ichimoku cloud capped the upside action. Temporary footstep was found at 79.15, marked as ideal reversal point, along with 79.00/78.90 zone, Fib 38.2% / 50% of 78.15/79.65 and 55 day EMA. However, still negative structure on hourly and indicators pointing lower on 4h chart, keep the downside vulnerable. From the other side, clear break above 79.65 is seen as a trigger for test of 80.00.

Res: 79.52, 79.65, 79.94, 80.09
Sup: 79.15, 79.08, 79.00, 78.90

USD/CHF
The negative sentiment keeps to drive the pair lower, as loss of initial 0.9700 platform, accelerated losses through key short-term support and double bottom at 0.9655, approaching psychological 0.9600 level. Brief consolidation off 0.9617, yesterday’s low, has not shown much of recovery, as negative short-term studies keep the downside in focus, with some delay in stronger slide, to be seen on oversold short-term conditions. Clear break below 0.9600, to expose 0.9650 zone, 90 day SMA / daily Ichimoku cloud base, ahead of psychological 0.9500 level. On the upside, regain of minimum 0.9700/20, is required to ease bear pressure, while 0.9800 zone caps for now.

Res: 0.9655, 0.9700, 0.9720, 0.9747
Sup: 0.9617, 0.9600, 0.9550, 0.9500

 

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD
The pair remains in a near-term corrective mode, retracing so far over 23.6% of two-day rally from 1.2294 to 1.2486, yesterday’s fresh seven-week peak. As overall picture maintains positive sentiment, upside targets at 1.2500 zone remain in focus, though still weakening near-term studies, see room for further easing, with good support seen at 1.2415/1.2390 zone. More action to be seen on today’s FOMC minutes and tomorrow’s EU top officials meetings.

Res: 1.2458, 1.2477, 1.2486, 1.2500
Sup: 1.2430, 1.2415, 1.2400, 1.2380

GBP/USD
Cable’s brief break above yesterday’s 1.5803 high, with 1.5816 seen so far, is seen as good signal for further extension, following yesterday’s break above strong med-term barrier at 1.5775 that now acts as support and keeps the near-term price action contained. Despite today’s gains being nearly fully retraced and hourly studies in a descending mode, the pair holds levels near 1.5800, with sustained break here to open 1.5847, ahead of 1.5900. Strong support on hourly chart at 1.5760/40 zone is seen as near-term breakpoint, loss of which would trigger stronger reversal.

Res: 1.5803, 1.5816, 1.5847, 1.5900
Sup: 1.5765, 1.5753, 1.5743, 1.5722

AUD/USD
Short-term reversal off 1.0519, yesterday’s high, has fully retraced the near-term 1.0409/1.0519 ascend. This brings immediate focus at strong support at 1.0400 zone, loss of which to open way for stronger correction of med-term 0.9579/1.0611 uptrend. Negative tone on 1 and 4h chart studies, keeps the downside favored, as slide under 1.0400, would expose static support at 1.0326 ahead of more significant 200 day SMA at 1.0300. Near-term bounce off today’s low at 1.0412, faces though barriers at 1.0450/60 zone, where Fib 38.2% and 50% levels lies, reinforced by descending 20 and 55 day EMA’s and only break here to avert immediate downside risk.

Res : 1.0450, 1.0465, 1.0478, 1.0500
Sup : 1.0409, 1.0400, 1.0326, 1.0300

USD/CAD
Bounce off yesterday’s low at 0.9840 that broke above initial barriers at 0.9900 and 0.9930, with gains retracing over 38.2% of 1.0083/0.9840 downleg at 0.9945, is still seen as corrective action of med-term strong downtrend from 1.0444, 04 June peak. Overextended hourly conditions signal reversal, with good support standing at 0.9900 zone, previous highs / Fib 38.2% of 0.9840/0.9945 ascend, reinforced by ascending 20 day EMA. Any stronger dips should ideally reverse at this area, to keep near-term bulls in play, as studies on 4h chart are still in positive territory, with regain of Fibonacci 61.8% at 0.9990 and parity level, seen as a trigger for stronger recovery.

Res: 0.9945, 0.9961, 0.9990, 1.0000
Sup: 0.9920, 0.9900, 0.9880, 0.9858

 

[WindsorBrokers]

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

EUR/USD
Continues to trend higher, as yesterday’s fresh rally broke above psychological 1.2500 barrier. Strong resistance at 1.25/6070 zone, Fib 38.2% of 1.3384/1.2042 / 90 day SMA, has been dented, with break here to spark fresh gains towards round figure resistance at 1.2600. However, studies in lower timeframes are overbought, with hourlies already pointing lower and MACD bearish divergence developing on hourly chart that signals a pause in current rally and opens way for corrective easing. Hourly supports lie at 1.2512, 20 day EMA, 1.2500, figure support and 1.2486, Fib 23.6% of 1.2254/1.2552 ascend. More downside risk would be seen on a break below 1.2430/00 zone, Fib 38.2% / yesterday’s low / figure support.

Res: 1.2552, 1.2590, 1.2600, 1.2624
Sup: 1.2512, 1.2500, 1.2486, 1.2430

GBP/USD
Yesterday’s acceleration through 1.5800 handle, backed by FOMC comments that significantly weakened the greenback, pushed the pair briefly through our next target and psychological barrier and Fib 61.8% of larger 1.6300/1.5267 descend at 1.5900. Positive sentiment, established on a break above two-month congestion top at 1.5776, now sees potential for further gains, with another significant barrier at 1.6000, coming in short-term focus. However, overbought conditions on 1 and 4h chart studies, warns of corrective action preceding fresh rally. Initial supports lie at 1.5880/70 zone, ahead of strong ones at 1.5800/1.5780, loss of which would sideline short-term bears.

Res: 1.5911, 1.5931, 1.5950, 1.6000
Sup: 1.5880, 1.5816, 1.5800, 1.5776

USD/JPY
The pair loses ground, as reversal from 79.65, 20 Aug high, where gains were capped by daily Ichimoku cloud top, accelerated losses on a break below 200 day MA at 79.20 and breaking below previous strong resistance and previous range top at 78.80, to nearly fully retrace recent 78.15/79.65 rally. Dips so far reached 78.27, with return below broken bear trendline off 84.08, turning the near-term sentiment into negative territory. Brief corrective/consolidative action has so far been limited at 78.60 zone, with more significant bounce required to regain minimum 79.00 to ease bear pressure and avoid revisit of strong support and base at 78.00 zone.

Res: 79.65, 78.80, 78.96, 79.12
Sup: 78.46, 78.27, 78.15, 78.00

USD/CHF
Acceleration of losses was seen on a break below important 0.9700 and 0.9655 supports, with loss of 0.9600 handle, extending decline to 0.9550 so far, where daily Ichimoku cloud base and 90 day MA offers near-term footstep. Corrective bounce on overextended short-term studies has been signaled on a hourly chart, however, not much of action to be expected as long as important barriers at 0.9655/0.9700 stay intact and only violation of this zone would sideline short-term bears. On the downside, break below 0.9550, to expose figure support at 0.9500, then 0.9461/20, 19/18 June higher base.

Res: 0.9584, 0.9600, 0.9617, 0.9655
Sup: 0.9550, 0.9500, 0.9461, 0.9420

 

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD
Continues to trend higher, as yesterday’s fresh rally broke above psychological 1.2500 barrier. Strong resistance at 1.25/6070 zone, Fib 38.2% of 1.3384/1.2042 / 90 day SMA, has been dented, with break here to spark fresh gains towards round figure resistance at 1.2600. However, studies in lower timeframes are overbought, with hourlies already pointing lower and MACD bearish divergence developing on hourly chart that signals a pause in current rally and opens way for corrective easing. Hourly supports lie at 1.2512, 20 day EMA, 1.2500, figure support and 1.2486, Fib 23.6% of 1.2254/1.2552 ascend. More downside risk would be seen on a break below 1.2430/00 zone, Fib 38.2% / yesterday’s low / figure support.

Res: 1.2552, 1.2590, 1.2600, 1.2624
Sup: 1.2512, 1.2500, 1.2486, 1.2430

GBP/USD
Yesterday’s acceleration through 1.5800 handle, backed by FOMC comments that significantly weakened the greenback, pushed the pair briefly through our next target and psychological barrier and Fib 61.8% of larger 1.6300/1.5267 descend at 1.5900. Positive sentiment, established on a break above two-month congestion top at 1.5776, now sees potential for further gains, with another significant barrier at 1.6000, coming in short-term focus. However, overbought conditions on 1 and 4h chart studies, warns of corrective action preceding fresh rally. Initial supports lie at 1.5880/70 zone, ahead of strong ones at 1.5800/1.5780, loss of which would sideline short-term bears.

Res: 1.5911, 1.5931, 1.5950, 1.6000
Sup: 1.5880, 1.5816, 1.5800, 1.5776

USD/JPY
The pair loses ground, as reversal from 79.65, 20 Aug high, where gains were capped by daily Ichimoku cloud top, accelerated losses on a break below 200 day MA at 79.20 and breaking below previous strong resistance and previous range top at 78.80, to nearly fully retrace recent 78.15/79.65 rally. Dips so far reached 78.27, with return below broken bear trendline off 84.08, turning the near-term sentiment into negative territory. Brief corrective/consolidative action has so far been limited at 78.60 zone, with more significant bounce required to regain minimum 79.00 to ease bear pressure and avoid revisit of strong support and base at 78.00 zone.

Res: 79.65, 78.80, 78.96, 79.12
Sup: 78.46, 78.27, 78.15, 78.00

USD/CHF
Acceleration of losses was seen on a break below important 0.9700 and 0.9655 supports, with loss of 0.9600 handle, extending decline to 0.9550 so far, where daily Ichimoku cloud base and 90 day MA offers near-term footstep. Corrective bounce on overextended short-term studies has been signaled on a hourly chart, however, not much of action to be expected as long as important barriers at 0.9655/0.9700 stay intact and only violation of this zone would sideline short-term bears. On the downside, break below 0.9550, to expose figure support at 0.9500, then 0.9461/20, 19/18 June higher base.

Res: 0.9584, 0.9600, 0.9617, 0.9655
Sup: 0.9550, 0.9500, 0.9461, 0.9420

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:30 GMT)

EUR/USD
The Euro remains well supported during the early hours of US session, as rather quiet sideways trade followed morning’s fresh high at 1.2570. Today’s close above here, also 90 day MA, to confirm positive short-term structure and further recovery, with 1.2600 seen on a break. Near-term consolidation floor and 20 day EMA offer initial hourly support at 1.2530, with more downside risk seen on overextended 4h chart studies. Any dip under 1.2500 to focus breakpoint at 1.2440/30 zone.

Res: 1.2570, 1.2590, 1.2600, 1.2624
Sup: 1.2530, 1.2500, 1.2486, 1.2430

GBP/USD
Near-term corrective action is underway, with hourly studies emerging from overbought territory and price finding temporary support at 1.5860, 20 day EMA. However, as 4h chart studies are still overextended, further easing is not ruled out, with good support seen at 1.5800 zone. Positive larger picture’s structure keeps the upside in focus, with clearance of today’s high and Fib 61.8% of 1.6300/1.5267 at 1.5910, to open 1.6000, psychological barrier.

Res: 1.5896, 1.5911, 1.5931, 1.5950
Sup: 1.5860, 1.5816, 1.5800, 1.5776

USD/JPY
Comes under pressure again after corrective action off 78.27, yesterday’s low, was capped by descending 20 day EMA at 78.70. Fresh slide keeps intact the upside barrier at 79.00, where 20/55 day EMA bearish crossover puts additional pressure on the near-term price action and increases risk of revisiting strong 78.00 support zone. Today’s close below broken bear-trendline off 84.08 high to confirm negative near-term stance.

Res: 78.46, 78.70, 78.80, 78.96
Sup: 78.27, 78.15, 78.00, 77.65

USD/CHF
Short-term bears remain in play, as brief consolidative action failed to clear initial barrier at 0.9580, 20 day EMA. Short-term indicators continue to point lower, despite oversold conditions. Violation of 0.9550 support, also daily Ichimoku cloud base, to open way for further weakness to 0.9500, initially, with extension towards 0.9461 and 0.9420, seen on a break.

Res: 0.9584, 0.9600, 0.9617, 0.9655
Sup: 0.9550, 0.9500, 0.9461, 0.9420

 

[WindsorBrokers]

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

EUR/USD
The pair remains in a near-term consolidative mode, as gains were capped by Ichimoku cloud top, just under 1.2600 barrier. Overbought 4h conditions and Stochastic moving out of overbought zone, seeing potential of more corrective action, as initial 1.2530 support comes under pressure, ahead of 1.2500 zone. Loss of the latter would risk test of more important 1.2440/30 area and delay bulls. Upside violation of near-term targets at 1.2600/25 zone, to resume short-term recovery, as larger picture’s bulls remain intact for now.

Res: 1.2570, 1.2590, 1.2600, 1.2624
Sup: 1.2530, 1.2500, 1.2486, 1.2430

GBP/USD
Overnight’s price action moved sideways and within a very narrow range, consolidating the latest gains that have been capped at Fib 61.8% of 1.6300/1.5276, just above 1.5900 barrier. However, weak near-term outlook signals stronger corrective easing, with break below 55 day EMA at 1.5840, seen as a trigger. Further supports lie at 1.5820, Fib 38.2%, while only loss of 1.5800/1.5780 would put short-term bulls aside. On the upside, lift above 1.5900 will turn focus towards 1.6000.

Res: 1.5868, 1.5890, 1.5911, 1.5931
Sup: 1.5816, 1.5800, 1.5776, 1.5743

USD/JPY
Near-term price action remains entrenched within 78.27/70 consolidative range, following sharp decline that nearly fully retraced 78.15/79.65 rally. As 55 day EMA keeps the upside limited for now and short-term studies holding in the negative territory, not much to be expected of corrective action, unless important barrier at 79.00/20 is regained. Negative short-term sentiment see the downside vulnerable, with violation of strong 78.15/00 zone, seen as a trigger for fresh weakness.

Res: 78.70, 78.80, 78.96, 79.12
Sup: 78.50, 78.35, 78.27, 78.15

USD/CHF
The pair enters near-term consolidative phase, following recent fall that found temporary support at 0.9535, where daily Ichimoku cloud base contained dips for now. The upside remains capped under initial 0.9600 barrier, as descending 55 day EMA limits gains for now. However, improving hourlies and 4h chart studies in the oversold zone, would be a signal for stronger recovery, with penetration through 0.9650/70 zone, required to ease bear pressure. Otherwise, risk of lower top and fresh weakness exists, with loss of 0.9535 to open figure support at 0.9500 next.

Res: 0.9585, 0.9600, 0.9640, 0.9655
Sup: 0.9550, 0.9535, 0.9500, 0.9461

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:45 GMT)

EUR/USD
The single currency extends its near-term easing off yesterday’s 1.2588 high, with losses accelerating and sliding below 1.2500, on better-than-expected US data. End-of-the-week profit taking on week-long rally and negative near-term tone, see the downside vulnerable, as support at 1.2486 has been cracked and risk seen for extension towards 1.2440/30 breakpoint and 50% of 1.2294/1.2588 ascend. Previous support at 1.2530, now acts as initial barrier, while only regain of 1.2560 would turn focus higher and re-expose 1.2588/1.2600.

Res: 1.2530, 1.2560, 1.2588, 1.2600
Sup: 1.2481, 1.2441, 1.2430, 1.2400

GBP/USD
Cable extends corrective pullback from 1.5911 high, to retrace 38.2% of 1.5673/1.5911 upleg, after losing initial support and overnight’s consolidation floor. As near-term studies moved in the negative territory, further easing could not be ruled out, with important levels at 1.5800 and 1.5770 zone, Fib 61.8% and previous range top, loss of which would bearish. On the upside, violation of initial barrier at 1.5850/70, is needed ease immediate bear pressure.

Res: 1.5850, 1.5868, 1.5890, 1.5911
Sup: 1.5813, 1.5800, 1.5776, 1.5764

USD/JPY
The pair remains in a sideways mode, following repeated upside rejection at 78.70, with weak near-term studies and price holding below 55 day EMA, seeing the downside still under pressure. Initial support lies at 78.30 zone, ahead of more significant 78.00 base, below which, bears would be accelerating again. Only lift above 79.00 will improve near-term picture.

Res: 78.70, 78.80, 78.96, 79.12
Sup: 78.44, 78.35, 78.27, 78.15

USD/CHF
The pair extended its near-term consolidative phase off 0.9537, yesterday’s low, to retrace nearly 38.2% of initial 0.9766/0.9537 downleg at 0.9620, where gains stalled. As larger picture’s bears remain in play and hourly studies approaching overbought zone, the upside looks quite limited for now, with penetration through 0.9650 and 0.9700 barriers expected to avert downside risk. On the downside, loss of 0.9550, Ichimoku cloud base and 0.9537, yesterday’s low, is seen as a trigger for fresh weakness, with 0.9500 to come first, ahead of another strong supports at 0.9461 and 0.9420.

Res: 0.9620, 0.9655, 0.9679, 0.9700
Sup: 0.9550, 0.9537, 0.9500, 0.9461

 

[WindsorBrokers]

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

EUR/USD

The near-term price action remains in a defensive mode off the last week’s fresh high at 1.2588, just ahead of psychological 1.2600 barrier, where daily Ichimoku cloud top capped the recent rally. Dips have so been contained by hourly20 day EMA at 1.2500 zone. Weak near-term studies keep the downside vulnerable, with break below 1.2500/1.2480 support to open important support and breakpoint at 1.2440/30 area. Only regain of last Friday’s spike high and daily 90 day MA at 1.2560, would provide relief and turn near-term focus towards 1.2600.

Res: 1.2536, 1.2560, 1.2588, 1.2600
Sup: 1.2500, 1.2481, 1.2441, 1.2430

GBP/USD

Cable’s near-term corrective pullback from 1.5900 zone, last week’s high / Fib 61.8% of 1.6300/1.5267 descend, is attempting to base at 1.5800. Holding above previous range tops and former strong resistance at 1.5770 zone, keeps the near-term focus at the upside levels, as larger picture bulls remain intact for now, with clearance of 1.5900 to expose strong psychological 1.6000 barrier. Alternative scenario would see risk of losing 1.5800/1.5770 supports to expose 1.5730/15, trendline support / 200 day MA.

Res: 1.5850, 1.5868, 1.5890, 1.5911
Sup: 1.5800, 1.5776, 1.5764, 1.5630

USD/JPY

The pair remains in near-term corrective mode off 78.27 low, but fails to break above initial barrier at previous range top at 78.80. positive tone on the hourly chart, however, sees potential for attack at important barrier at 79.00 zone, where trendline resistance and Fib 61.8% 79.65/78.27 downleg lie, break of which is required to improve still weak short-term structure and expose 200 day MA at 79.30. Otherwise, retest of strong support at base above 78.00, would be the likely scenario.


Res: 78.70, 78.80, 78.96, 79.12
Sup: 78.44, 78.35, 78.27, 78.15

USD/CHF

The near-term corrective action off 0.9537, last week’s fresh low, gets congested at 0.9520, initial resistance, with the downside being protected by ascending Ichimoku cloud base. As the upside stays capped by 20 day EMA and hourly conditions start to weaken, with price sliding below 0.9600 handle and seeing more downside risk in the near-term. Only clearance of strong barrier and breakpoint at 0.9655, also 55 day EMA and Fib 38.2% of 0.9766/0.9537, would improve the near-term outlook, as larger picture bears off 0.9970 remain in play.

Res: 0.9620, 0.9655, 0.9679, 0.9700
Sup: 0.9580, 0.9557, 0.9537, 0.9500

 

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The near-term price action remains in a defensive mode off the last week’s fresh high at 1.2588, just ahead of psychological 1.2600 barrier, where daily Ichimoku cloud top capped the recent rally. Dips have so been contained by hourly20 day EMA at 1.2500 zone. Weak near-term studies keep the downside vulnerable, with break below 1.2500/1.2480 support to open important support and breakpoint at 1.2440/30 area. Only regain of last Friday’s spike high and daily 90 day MA at 1.2560, would provide relief and turn near-term focus towards 1.2600.

Res: 1.2536, 1.2560, 1.2588, 1.2600
Sup: 1.2500, 1.2481, 1.2441, 1.2430

GBP/USD

Cable’s near-term corrective pullback from 1.5900 zone, last week’s high / Fib 61.8% of 1.6300/1.5267 descend, is attempting to base at 1.5800. Holding above previous range tops and former strong resistance at 1.5770 zone, keeps the near-term focus at the upside levels, as larger picture bulls remain intact for now, with clearance of 1.5900 to expose strong psychological 1.6000 barrier. Alternative scenario would see risk of losing 1.5800/1.5770 supports to expose 1.5730/15, trendline support / 200 day MA.

Res: 1.5850, 1.5868, 1.5890, 1.5911
Sup: 1.5800, 1.5776, 1.5764, 1.5630

USD/JPY

The pair remains in near-term corrective mode off 78.27 low, but fails to break above initial barrier at previous range top at 78.80. positive tone on the hourly chart, however, sees potential for attack at important barrier at 79.00 zone, where trendline resistance and Fib 61.8% 79.65/78.27 downleg lie, break of which is required to improve still weak short-term structure and expose 200 day MA at 79.30. Otherwise, retest of strong support at base above 78.00, would be the likely scenario.


Res: 78.70, 78.80, 78.96, 79.12
Sup: 78.44, 78.35, 78.27, 78.15

USD/CHF

The near-term corrective action off 0.9537, last week’s fresh low, gets congested at 0.9520, initial resistance, with the downside being protected by ascending Ichimoku cloud base. As the upside stays capped by 20 day EMA and hourly conditions start to weaken, with price sliding below 0.9600 handle and seeing more downside risk in the near-term. Only clearance of strong barrier and breakpoint at 0.9655, also 55 day EMA and Fib 38.2% of 0.9766/0.9537, would improve the near-term outlook, as larger picture bears off 0.9970 remain in play.

Res: 0.9620, 0.9655, 0.9679, 0.9700
Sup: 0.9580, 0.9557, 0.9537, 0.9500

 

[WindsorBrokers]

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

EUR/USD

The Euro remains in defensive since posting fresh seven-week high at 1.2588 last week, with one-month rally being backed by hopes of ECB’s action. The initial strength may be further losing momentum, as the single currency slips below psychological 1.2500 level. Today’s weakness dipped to 1.2464, Fib 38.2% of near-term 1.2254/1.2588 rally, just ahead of 1.2440/30 break point, also near 50% retracement and 55 day EMA, loss of which would spark further weakness. Negative near-term studies keep the downside favored, as immediate barrier at 1.2500 stays impact. Only lift above 1.2534, yesterday’s high, would delay bears.

Res: 1.2500, 1.2534, 1.2560, 1.2588
Sup: 1.2464, 1.2441, 1.2430, 1.2406

GBP/USD

The pair continues to trend lower, as a part of near-term corrective pullback off 1.5911, last week’s high. The slide touched important 1.5750/40 zone, where previous high / Fib 38.2% of 1.5489/1.5911 upleg and bull trendline off 1.5489 lie, as initial support and previous range top at 1.5770 zone has been lost. Potential break below 1.5740 would be seen as a trigger for stronger reversal and keep the upside targets sidelined, in favor of test of 1.5715/00, 200 day MA / 50% retracement, as near-term technicals remain weak. Immediate resistance lies at 1.5800, reinforced by descending 55 day EMA, while only regain of 1.5830 zone would provide relief.

Res: 1.5800, 1.5830, 1.5850, 1.5868
Sup: 1.5753, 1.5740, 1.5715, 1.5700

USD/JPY

The near-term price action is running out of steam, as initial target at 79.00 stays intact, after recovery rally being capped at 78.80 zone, where 55 day EMA limited the upside. Fresh slide under bull trendline off 78.27 low, despite dips being contained at initial 78.45 support, sees more risk towards the downside, as near-term structure remains weak. Loss of 78.44/36 to expose 78.00 base for retest, while only lift above 79.00 would be a signal of further recovery towards 79.65 peak.

Res: 78.70, 78.83, 78.96, 79.12
Sup: 78.44, 78.35, 78.27, 78.15

USD/CHF

Corrective rally off 0.9537, 23 Aug low, extends gains to 0.9634 so far, with positive near-term structure seeing potential for test of important 0.9660 zone, 22 Aug lower high/ 55 day EMA and 50% retracement of 0.9766/0.9537 downleg, break above which to confirm near-term base and open way for stronger recovery towards 0.9700, next target. However, negative larger picture, sees the current move as corrective part of larger downtrend from 0.9970 and unless firm break above 0.9700 zone, also bear-trendline off 0.9970, is seen, risk of lower top and fresh weakness, remains high.

Res: 0.9634, 0.9655, 0.9679, 0.9700
Sup: 0.9610, 0.9580, 0.9557, 0.9537

 

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The Euro remains in defensive since posting fresh seven-week high at 1.2588 last week, with one-month rally being backed by hopes of ECB’s action. The initial strength may be further losing momentum, as the single currency slips below psychological 1.2500 level. Today’s weakness dipped to 1.2464, Fib 38.2% of near-term 1.2254/1.2588 rally, just ahead of 1.2440/30 break point, also near 50% retracement and 55 day EMA, loss of which would spark further weakness. Negative near-term studies keep the downside favored, as immediate barrier at 1.2500 stays impact. Only lift above 1.2534, yesterday’s high, would delay bears.

Res: 1.2500, 1.2534, 1.2560, 1.2588
Sup: 1.2464, 1.2441, 1.2430, 1.2406

GBP/USD

The pair continues to trend lower, as a part of near-term corrective pullback off 1.5911, last week’s high. The slide touched important 1.5750/40 zone, where previous high / Fib 38.2% of 1.5489/1.5911 upleg and bull trendline off 1.5489 lie, as initial support and previous range top at 1.5770 zone has been lost. Potential break below 1.5740 would be seen as a trigger for stronger reversal and keep the upside targets sidelined, in favor of test of 1.5715/00, 200 day MA / 50% retracement, as near-term technicals remain weak. Immediate resistance lies at 1.5800, reinforced by descending 55 day EMA, while only regain of 1.5830 zone would provide relief.

Res: 1.5800, 1.5830, 1.5850, 1.5868
Sup: 1.5753, 1.5740, 1.5715, 1.5700

USD/JPY

The near-term price action is running out of steam, as initial target at 79.00 stays intact, after recovery rally being capped at 78.80 zone, where 55 day EMA limited the upside. Fresh slide under bull trendline off 78.27 low, despite dips being contained at initial 78.45 support, sees more risk towards the downside, as near-term structure remains weak. Loss of 78.44/36 to expose 78.00 base for retest, while only lift above 79.00 would be a signal of further recovery towards 79.65 peak.

Res: 78.70, 78.83, 78.96, 79.12
Sup: 78.44, 78.35, 78.27, 78.15

USD/CHF

Corrective rally off 0.9537, 23 Aug low, extends gains to 0.9634 so far, with positive near-term structure seeing potential for test of important 0.9660 zone, 22 Aug lower high/ 55 day EMA and 50% retracement of 0.9766/0.9537 downleg, break above which to confirm near-term base and open way for stronger recovery towards 0.9700, next target. However, negative larger picture, sees the current move as corrective part of larger downtrend from 0.9970 and unless firm break above 0.9700 zone, also bear-trendline off 0.9970, is seen, risk of lower top and fresh weakness, remains high.

Res: 0.9634, 0.9655, 0.9679, 0.9700
Sup: 0.9610, 0.9580, 0.9557, 0.9537

 

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The single currency continues to move sideways during the past week, with price action being entrenched within 1.2588 and 1.2464 range. As near-term structure remains weak and repeated upside attempt failed on approach to the range top, more risk is seen towards the downside in the near-term. Violation of key near-term support at 1.2464, to signal double-top pattern., while break above the upper range boundary will trigger fresh bull leg, as a part of one-month uptrend.

Res: 1.2550, 1.2565, 1.2575, 1.2588
Sup: 1.2519, 1.2506, 1.2489, 1.2464

GBP/USD

The pair remains supported in the near-term action, as rally 1.5753 low has retraced over 61.8% of 1.5911/1.5753 downleg at 1.5854 yesterday. As the price holds above important 1.5800 handle, with 1.5850/70 resistance zone being cracked, more focus is seen towards the upside. Hourly studies keep neutral/positive mode, but overall near-term picture is still seen fragile, as long as 1.5870 stays intact, with slide below 1.5800 to be a trigger for fresh weakness towards key near-term support at 1.5753.

Res: 1.5840, 1.5854, 1.5868, 1.5900
Sup: 1.5820, 1.5800, 1.5784, 1.5775

USD/JPY

The near-term price action remains capped at the upper limits of one-week 78.27/78.83 range, with the pair moving in a sideways mode. Neutral near-term and larger picture studies see potential for more directionless movements, with break of either extreme points required to define fresh direction. On the upside, key barriers lie at 78.80, range top; 79.00, figure resistance and Ichimoku cloud base and 78.25, 200 day MA, break of which to attract further gains. Alternative scenario see violation of initial 78.44/27 supports as a trigger for retest of key short-term supports at 78.00 and 77.65.

Res: 78.80, 78.83, 78.96, 79.12
Sup: 78.59, 78.44, 78.35, 78.27

USD/CHF

Continues to consolidate the recent losses that bottomed at 0.9537, with recovery attempt being capped just under 0.9600 barrier at 50% retracement of 0.9634/0.9537 downleg and 20 day EMA. With near-term structure still weak and initial barriers at 0.9600/34 intact, the downside remains vulnerable, as larger picture bears remain in play. Slide below 0.9550/37 to spark fresh leg lower and expose 0.9500 and 0.9461, while only break above trendline resistance at 0.9700 would improve short-term structure and avert the downside risk.

Res: 0.9600, 0.9634, 0.9655, 0.9679
Sup: 0.9560, 0.9537, 0.9500, 0.9461

 

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The single currency continues to move sideways during the past week, with price action being entrenched within 1.2588 and 1.2464 range. As near-term structure remains weak and repeated upside attempt failed on approach to the range top, more risk is seen towards the downside in the near-term. Violation of key near-term support at 1.2464, to signal double-top pattern., while break above the upper range boundary will trigger fresh bull leg, as a part of one-month uptrend.

Res: 1.2550, 1.2565, 1.2575, 1.2588
Sup: 1.2519, 1.2506, 1.2489, 1.2464

GBP/USD

The pair remains supported in the near-term action, as rally 1.5753 low has retraced over 61.8% of 1.5911/1.5753 downleg at 1.5854 yesterday. As the price holds above important 1.5800 handle, with 1.5850/70 resistance zone being cracked, more focus is seen towards the upside. Hourly studies keep neutral/positive mode, but overall near-term picture is still seen fragile, as long as 1.5870 stays intact, with slide below 1.5800 to be a trigger for fresh weakness towards key near-term support at 1.5753.

Res: 1.5840, 1.5854, 1.5868, 1.5900
Sup: 1.5820, 1.5800, 1.5784, 1.5775

USD/JPY

The near-term price action remains capped at the upper limits of one-week 78.27/78.83 range, with the pair moving in a sideways mode. Neutral near-term and larger picture studies see potential for more directionless movements, with break of either extreme points required to define fresh direction. On the upside, key barriers lie at 78.80, range top; 79.00, figure resistance and Ichimoku cloud base and 78.25, 200 day MA, break of which to attract further gains. Alternative scenario see violation of initial 78.44/27 supports as a trigger for retest of key short-term supports at 78.00 and 77.65.

Res: 78.80, 78.83, 78.96, 79.12
Sup: 78.59, 78.44, 78.35, 78.27

USD/CHF

Continues to consolidate the recent losses that bottomed at 0.9537, with recovery attempt being capped just under 0.9600 barrier at 50% retracement of 0.9634/0.9537 downleg and 20 day EMA. With near-term structure still weak and initial barriers at 0.9600/34 intact, the downside remains vulnerable, as larger picture bears remain in play. Slide below 0.9550/37 to spark fresh leg lower and expose 0.9500 and 0.9461, while only break above trendline resistance at 0.9700 would improve short-term structure and avert the downside risk.

Res: 0.9600, 0.9634, 0.9655, 0.9679
Sup: 0.9560, 0.9537, 0.9500, 0.9461

 

[WindsorBrokers]

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

EUR/USD

The pair came under increased pressure, following yesterday’s better than expected US data. Slide below 1.2500 handle turns near-term focus towards the lower boundaries of week-long consolidation of one-month rally that was capped on approach to 1.2600. As near-term studies remain weak, further weakness is not ruled out. Initial support lies at 1.2486, where 55 day EMA limited dips, ahead of more important 1.2464, 28 Aug low and range bottom, also daily Ichimoku Tenkan-sen line, loss of which to trigger stronger correction. Initial resistances lie at 1.2500/20 zone, while only regain of yesterday’s high at 1.2562 would improve the near-term structure.

Res: 1.2500, 1.2520, 1.2535, 1.2562
Sup: 1.2492, 1.2486, 1.2464, 1.2440

GBP/USD

Cable erased a good part of near-term 1.5753/1.5873 recovery, as yesterday’s sharp fall dipped to levels under 1.5800 handle. Testing bull-trendline off 1.5489 low, may result in further easing, as hourly studies remain in the negative territory, with break below key near-term support at 1.5753, also Fib 38.2% of 1.5489/1.5911, will confirm lower top at 1.5873 seen as a trigger for deeper reversal for possible test of 200 day MA at 1.5720. On the upside, lift above 1.5800 would delay immediate bears, however, any rejection under 1.5873, would keep the downside pressure.

Res: 1.5800, 1.5835, 1.5873, 1.5900
Sup: 1.5769, 1.5753, 1.5720, 1.5700

USD/JPY

Attempt at the lower boundaries of near-term consolidative 78.30/80 range, sees more risk towards the downside, as initial support at 78.44 has been dented. Negative tone on hourly and 4h charts keeps the near-term price action under pressure, as descending 20 day EMA caps at 78.60. Break below 78.27 to expose very strong support and base at 78.00 zone, while regain of 78.80 range top will turn the sentiment more positive. Key upside barriers lie at 79.00 and 78.27, 200 day MA.

Res: 78.50, 78.60, 78.83, 78.96
Sup: 78.38, 78.27, 78.15, 78.00

USD/CHF

The near-term price action remains in a sideways mode, entrenched within 0.9537 and 0.9634 range, but recent break below daily Ichimoku cloud keep the downside vulnerable. Failure to regain initial 0.9634/55 barriers and more significant trendline resistance at 0.9680, sees risk of retesting near-term base at 0.954 zone, loss of which to open way for fresh bear-leg, as a part of larger downtrend from 0.9970, 24 July peak and expose 0.9500 initially.

Res: 0.9615, 0.9634, 0.9655, 0.9679
Sup: 0.9590, 0.9557, 0.9546, 0.9537