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

The Euro continues to trade sideways, awaiting Fed’s decision and holding within 1.3324/84 consolidative range. The downside is protected by hourly Ichimoku cloud and ascending 55DMA, with positively aligned near-term studies, keeping near-term bulls in play. Final push through 1.3384 peak to open 1.3400 lower platform and key 1.3450 hurdle. Alternatively, violation of the range floor, also previous high and 50% retracement of 1.3252/1.3384, would be seen as initial signal of corrective phase and expose 1.3300, Fibonacci 61.8% and strong 1.3240 higher platform and 50% of larger 1.3103/1.3384 ascend.

Res: 1.3368; 1.3384; 1.3400; 1.3450

Sup: 1.3345; 1.3324; 1.3300; 1.3283

Cable remains trades in near-term sideways mode, after pullback from 1.5961 high, found footstep at 1.5883, Fibonacci 38.2% of 1.5775/1.5961 upleg, with support being reinforced by 55DMA. Neutral tone prevails on hourly chart studies, while 4-hour indicators are descending from overbought territory that keeps risk of further reversal in play. Loss of 1.5883, would look for next supports at 1.5868/46, 50% and 61.8% retracement levels, with increased downside risk to be triggered in case 1.5800 and 1.5775 supports give way. Conversely, lift above near-term consolidation top at 1.5935, would open 1.5961 and focus psychological 1.6000. Overextended daily studies, however, see risk of stall ahead of 1.6000 hurdle.

Res: 1.5935; 1.5961; 1.6000; 1.6010

Sup: 1.5887; 1.5868, 1.5838; 1.5819

The pair holds neutral tone on hourly chart, as bounce from 98.44 low stays capped at 99.35, Tuesday’s high. with 99.00, now acting as immediate support. From the other side 4-hour studies are negative, with price action being capped by 55DMA that keeps the downside at risk. Failure to regain of 99.96, 13/09 lower top, would risk lower top formation and further weakness, with break below 98.44, to open way for further retracement of 96.80/100.60 ascend.

Res: 99.35; 99.52; 99.77; 99.96

Sup: 99.00; 98.63; 98.44; 98.25

The Aussie maintains positive near-term tone, as the price holds in the upper part of 0.9392/0.9284 consolidation range, with studies on the lower timeframes being positively aligned. Resumption of larger uptrend from 0.8891 requires lift above 0.9400, with important resistance zone at 0.9300/50 and short-term congestion top, already being cracked on extension to 0.9392. Immediate support lies at 0.9335, while extension below 0.9284 higher low, would increase downside risk and signal possible false break above 0.9350.

Res: 0.9366; 0.9392; 0.9400; 0.9430

Sup: 0.9335; 0.9284; 0.9265; 0.9232