Short Term Technical Analysis for Majors (14:15 GMT)

EUR/USD

Continues to extend the recovery phase off 1.1875, 2010 low, posted 07 Jun. 1.2215 resistance now being breached, with 1.2272, 50% retracement of the 1.2671/1.1875 decline, tested. Clear break here opens 1.2325, 03 Jun high, next. Immediate support now stands at 1.2162.

Res: 1.2272, 1.2325, 1.2355, 1.2380
Sup: 1.2162, 1.2110, 1.2074, 1.2045

http://mediaserver.fxstreet.com/Repo...0614141242.gif


GBP/USD

Extended the latest rally off 1.4501, last Friday’s higher low, to break through 1.4758/69 resistance zone, with 1.4786 reached so far. Needs to sustain gains to firm tone for fresh push higher, with 1.4875/1.4915 seen near-term. Loss of 1.4501, however, weakens the outlook and brings underlying bears back in play.

Res: 1.4786, 1.4860, 1.4875, 1.4915
Sup: 1.4643, 1.4550, 1.4501, 1.4476

http://mediaserver.fxstreet.com/Repo...0614141216.gif


USD/JPY

Break of last week’s 4 day wedge break has signaled a fresh strength to pressure 92.07. Clear break here opens two trendline resistances at 92.33 and 92.59, with break above these levels expected to trigger a near-term bull phase towards 92.87/94. Loss of 91.21 support, however, turns the focus lower.

Res: 92.33, 92.59, 92.87, 92.94
Sup: 91.59, 91.21, 90.85, 90.83

http://mediaserver.fxstreet.com/Repo...0614141150.gif


USD/CHF

Left a lower top at 1.1545 last Friday, just below 1.1553 strong resistance, before fresh weakness, as the market continues to correct lower from 1.1730, 01 Jun annual high. The latest break below 1.1377 opens 1.1266, 18 May low next.

Res: 1.1421, 1.1473, 1.1502, 1.1545
Sup: 1.1348, 1.1325, 1.1300, 1.1266

http://mediaserver.fxstreet.com/Repo...0614141116.gif