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Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 4, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro is directionless in the near-term, with price action moving within 1.3585/1.3650 range, consolidating bear-leg from 1.3992, 08 May peak. Overall tone remains negative and sees further downside favored, while neutral near-term studies maintain current sideways mode. Immediate support and range floor lies at 1.3585, loss of which to open fresh weakness and expose targets at 1.3561, 12 Feb low and 1.3519, Fibonacci 38.2% of 1.2754.1.3992 rally. On the upside, 200SMA reinforces range ceiling, with clear break here required to establish an upside direction towards psychological 1.37 barrier and breakpoint at 1.3733 lower base / 100SMA.

    Res: 1.3650; 1.3667; 1.3700; 1.3733
    Sup: 1.3585; 1.3561; 1.3519; 1.3500


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    GBPUSD

    Cable remains under pressure, with near-term recovery action being limited at 1.6780 zone by descending 55 SMA and unable to regain 1.68 handle. Failure to break here, triggers fresh weakness and re-focuses near-term base at 1.6700/1.6680 zone, fresh lows and daily cloud base, below which to resume larger descend from 1.6995 peak and expose 1.6667, Fibonacci 61.8% of 1.6464/1.6995/ 100SMA next and psychological 1.66 support in extension. Only sustain break above 1.68 handle would revive bulls for attempt at bear-trendline resistance at 1.6850.

    Res: 1.6723; 1.6780; 1.6800; 1.6835
    Sup: 1.6703; 1.6691; 1.6667; 1.6600


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    USDJPY

    The pair remains supported and heads higher after break above 102.13 and 102.35 barriers, on a fresh strength towards the next target and pivotal barrier at 103 zone. Corrective action is likely to precede fresh attempts higher as near-term studies are overbought. Ideal support lies at 102.25 zone, Fibonacci 38.2% retracement of 101.41/102.46 rally / higher platform and should ideally contain corrective dips. Further easing below here and 102 handle, would sideline near-term bulls and put aside fresh attempts above 103 barrier.

    Res: 102.78; 103.01; 103.75; 104.11
    Sup: 102.47; 102.26; 102.10; 101.93

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    AUDUSD

    The pair came recovered some looses on a fall to 0.9228, however, remains under pressure, as studies are weak on all timeframes. Failure to extend above recent congestion top at 0.93 zone, would keep the downside at risk of fresh attempt at strong 0.92 base and further weakness on a break here. Conversely, lift above 0.93 barrier to confirm higher low at 0.9228 for fresh attempt higher and test of the next breakpoint at 0.9330, 30 May high.

    Res: 0.9279; 0.9296; 0.9312; 0.9330
    Sup: 0.9243; 0.9228; 0.9207; 0.9177


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