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

The Euro stabilizes above 1.23 handle, extending corrective rally from fresh low at 1.2244. Yesterday’s positive close suggests further near-term recovery, following higher low formation at 1.2290. Next strong barriers lay at 1.2360, former **** and 1.2390 lower platform, reinforced by daily descending 10SMA, clearance of which is required to improve still negative 4-hour structure, for possible attack at pivotal 1.2435/55 barriers, daily 20SMA / 04 Dec lower top. However, overall picture remains bearish and sees limited corrective action, ideally to be capped under 1.24 handle, before fresh attempts lower.

Res: 1.2360; 1.2390; 1.2435; 1.2455

Sup: 1.2290; 1.2270; 1.2244; 1.2200

Cable trades in near-term corrective phase off yesterday’s fresh low at 1.5539, with dynamic barriers of daily 10 / 20 SMA’s / Tenkan-sen line, also yesterday’s high, at 1.5680, being tested. Near-term technicals are gaining traction, however, daily close above pivotal 1.5680 barrier, is required to confirm resumption of near-term bulls for further recovery. Lower tops at 1.5720 and 1.5761, also Fibonacci 61.8% / 76.4% of 1.5823/1.5539 downleg, offer resistances, ahead of pivotal 1.5823, 27 Dec high. Alternatively, downside pressure is expected to increase, if 20SMA stays intact.

Res: 1.5680; 1.5720; 1.5761; 1.5800

Sup: 1.5624; 1.5600; 1.5577; 1.5539

The pair corrects last week’s acceleration, which peaked at 121.83, with extended pullback, probing below psychological 120 support. Dark Cloud Cover pattern formation, signals corrective action, as daily RSI starts to reverse from overbought territory and the price approaches significant supports at 119.52/32, daily Tenkan-sen line / 10SMA. Close below here to confirm near-term correction and open 119.00, previous peak / Fibonacci 61.8% of 117.22/121.83 ascend, with pivotal support at 117.22, 27 Nov higher low, expected to come in near-term focus. Conversely, bounce through 121 lower top, to sideline immediate downside risk.

Res: 120.20; 120.50; 121.00; 121.30

Sup: 119.52; 119.32; 119.00; 118.56

AUDUSDThe pair remains under pressure and extended descend close to psychological 0.8200 barrier, after leaving a lower platform at 0.83 zone. The pair travels on extended third wave from 0.8794, which now focuses 0.8178, its 161.8% Fibonacci expansion, with psychological 0.8000 support, coming in near-term focus. Overall negative structure favors further downside, however, oversold larger timeframe’s studies suggest corrective action in the near term.



Res: 0.8314; 0.8354; 0.8415; 0.8465
Sup: 0.8222, 0.8200; 0.8178; 0.8122