Windsor Brokers - Short Term Technical Analysis for Majors (08:30 GMT)

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EUR/USD

Maintains negative tone, with break of corrective triangle on 27 Apr, extending losses fresh year low at 1.3114 yesterday. Minor correction now precedes a test on 1.3090, 76.4% retracement of 1.2455/1.5140 upleg, possibly 1.2885 near-term. Immediate resistance stands at 1.3263.

Res: 1.3263, 1.3290, 1.3342, 1.3412
Sup: 1.3141, 1.3114, 1.3090, 1.2963




GBP/USD

Recent break under trend-line support off 1.4797 negates the possibility of a double bottom at 1.4780/97. Scope is now seen for a short-term rise to create a lower high for a continuation of weakness.

Res: 1.5240, 1.5293, 1.5351, 1.5365
Sup: 1.5124, 1.5042, 1.5004, 1.4929




USD/JPY

Lower rejection at 92.80 on 27 Apr, confirmed the underlying bull structure. A break above 94.31/35, 26/28 Apr highs, will complete a multi week bull configuration that sights the 97.00 area. Only break below 92.80 would delay.

Res: 94.35, 94.60, 94.77, 95.05
Sup: 93.71, 93.37, 92.97, 92.80





USD/CHF

Remains in uptrend from 1.0500, with break of hourly triangle on 27 Apr, triggering the latest rise that cleared key 1.0898 barrier, to reach 1.0922 yesterday. 1.0812 now marks a tentative higher platform for fresh attempt at 1.0940 and 1.1026.

Res: 1.0922, 1.0940, 1.0956, 1.0987
Sup: 1.0812, 1.0787, 1.0759, 1.0698