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

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EUR/USD

The single currency remains within the range of 1.3000 and 1.2842, with the upper barrier being pressured. Sideways movements are seen in past few sessions after Monday’s gap lower opening, with dips being so far contained by 200 day MA. Hourly structure is positive that sees potential attack at 1.3000 barrier, also 61.8%% of 1.3106/1.2842 fall likely, as break here is seen as a trigger for more bullish action and will signal a bottom. Conversely, loss of 1.2900 handle, will turn near-term outlook bearish.

Res: 1.2977, 1.2994, 1.3044, 1.3077
Sup: 1.2927, 1.2900, 1.2879, 1.2842

GBP/USD

Cable remains in a sideways mode, holding within 1.5070/1.5140 range, with yesterday’s spikes in both directions, seen as a noise. Flat hourly studies favor further directionless trading, while structure on 4h chart holds positive tone, as the price action is supported by ascending 20 day EMA and underpinned by 20/55 EMA’s bullish crossover. Full retracement of 1.5220/1.4830 descend and break higher is needed to confirm bottom for more significant rebound, otherwise, the downside would remain vulnerable. Key support and breakpoint lies at 1.5000, below which, bears will take control.

Res: 1.5142, 1.5185, 1.5200, 1.5220
Sup: 1.5070, 1.5026, 1.5000, 1.4980

USD/JPY

The pair tested 96.00 barrier, following break above trendline resistance at 95.35 and previous recovery high at 95.73. The near-term uptrend has been established, as 4h indicators broke above their midlines that opens way for further recovery, with 76.4% of entire 96.70/94.30 fall being retraced so far. Pullback on overbought hourlies, should ideally find support at 95.70/50 zone, before fresh extension higher, with sustained break above 96.00, to attract 96.50/70 highs for retest. Bull trendline off 94.30 low, stands at 95.20 and only break here would revive bears.

Res: 96.12, 96.25, 96.50, 96.70
Sup: 95.65, 94.47, 95.20, 95.00

AUD/USD

No changes in Aussie’s price action seen in the past few sessions, as the upside remains capped at 1.04 zone. Lack of bullish momentum, so far limits recovery rally from 1.0114 at Fib 61.8% of 1.0597/1.0114 descend, however, the lower boundary of near-term congestion is additionally supported by ascending 200 day MA. Daily studies remain positive and keep the upside favored, while 4h indicators are losing traction and hourlies being neutral. Breakpoints stand at 1.0412 and 1.0342.

Res: 1.0400, 1.0412, 1.0456, 1.0474
Sup: 1.0350, 1.0342, 1.0300, 1.0286

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

EUR/USD The Euro remains in two-day 1.3300/1.3400 range, with near-term structure showing bears still holding control. Studies on 4h chart are in the negative territory and descending

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