Short Term Technical Analysis for Majors (13:45 GMT

EUR/USD

Upside failure at 1.3691 on 12 Apr has seen a dip to 1.3544, ahead of renewed attempt higher. This has left a lower top at 1.3677 yesterday, followed by fresh weakness. The latest breach of 1.3544 now risks resumption of the underlying bear trend and focuses 1.3496/45 next.

Res: 1.3595, 1.3677, 1.3691, 1.3735
Sup: 1.3520, 1.3496, 1.3459, 1.3445

http://mediaserver.fxstreet.com/Repo...0415134758.gif


GBP/USD

Short-term structure from 1.4797 higher low suggests scope for a pullback, after bulls failed at 1.5520 today. The latest break under 1.5454/30 now increases possibilities of fresh weakness, with current advance seen corrective, while 1.5480/1.5500 caps. Only clearance of 1.5520 would negate immediate bears.

Res: 1.5480, 1.5500, 1.5520, 1.5535
Sup: 1.5375, 1.5335, 1.5265, 1.5235

http://mediaserver.fxstreet.com/Repo...0415134647.gif


USD/JPY

Bounce off 92.56 floor has pushed higher to breach 93.25, trendline off 94.77, 05 Apr high, to reach 93.70 thus far. Above 93.70/78 will now firm further for initial upside to 94.25/77, while 92.82 buoys advance for now.

Res: 93.70, 93.78, 94.25, 94.77
Sup: 92.99, 92.81, 92.56, 92.45

http://mediaserver.fxstreet.com/Repo...0415134622.gif


USD/CHF

Drifted lower within a broad near-term flat consolidation, with 1.0500 being reached yesterday, ahead of today’s fresh strength. This has so far cleared 1.0561 and 1.0604 resistances, to shift the focus higher. Break through 1.0615, however, is needed to open way towards 1.0655/86 zone next.

Res: 1.0615, 1.0655, 1.0686, 1.0713
Sup: 1.0561, 1.0500, 1.0487, 1.0433

http://mediaserver.fxstreet.com/Repo...0415134549.gif

Dollar is very weak from last 2-3 weeks

Its bit difficult to analyze its potential.