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

The Euro remains in near-term corrective mode off 1.3573 low and stabilizes above strong 1.36 barrier. As the pair dents important 1.3620/40 resistance zone, further recovery is seen likely. Next targets lay at 1.3651, Fibonacci 61.8% of 1.3699/1.3573 then 1.3662, 03 July lower top / daily cloud **** and 1.3672, 200SMA, regain of which to signal an end of corrective phase by confirming higher low formation at 1.3573 and open key 1.3699 peak for fresh attack. Hourly studies are bullish, with 4-hour structure improving and gaining momentum, which is seen supportive for fresh near-term upside action. Initial support lies at 1.36 zone, ahead of higher low at 1.3586, guarding pivotal 1.3573 support.

Res: 1.3636; 1.3651; 1.3662; 1.3672

Sup: 1.3600; 1.3586; 1.3573; 1.3563

Cable overall picture remains bullish, with near-term price action being in consolidating mode, established within 1.7100/1.7175 range. Near-term studies are neutral, despite brief spike below 1.71 support, as the price recovered ground quickly. Further consolidation is seen as likely near-term scenario, while 1.71 handle stays intact. However, caution is required as long as the price holds at the lower part of the range, as fresh attempt at range’s floor and potential break lower would signal stronger pullback.

Res: 1.7146; 1.7165; 1.7177; 1.7200

Sup: 1.7124; 1.7100; 1.7083; 1.7061

The pair trades in corrective phase and continues to trend lower, after pullback off 102.25 fresh high, lost, lost initial 102 support. Dip to 101.43, over 76.4% retracement of 101.22/102.25 upleg, keeps the downside risk for full retracement of 101.22/102.25 upleg. Negative near-term technicals remain supportive for bearish resumption incase of loss of 101.00. Corrective attempts should stay capped under 102 handle to keep the structure intact.

Res: 101.74; 101.94; 102.19; 102.25

Sup: 101.43; 101.10; 101.00; 100.80

The pair continues to trade in near-term corrective mode after extended weakness off fresh high at 0.9503, found footstep at 0.9327, just ahead of pivotal 0.9320 support. The rally so far retraced 50% of 0.503/0.9327 descend, in attempt to sustain break above psychological 0.94 barrier. Near-term studies improve on recent bounce, with clear break above 0.94 handle, required to confirm recovery, for extension towards 0.9440/60, next strong resistance zone, possibly to re-focus 0.9503 peak, on a break here. Previous consolidation tops at 0.9370 zone, should contain dips, to keep freshly established near-term bulls alive.

Res: 0.9415; 0.9436; 0.9460; 0.9503

Sup: 0.9389; 0.9370; 0.9339; 0.9327