Short Term Technical Analysis for Majors (09:50 GMT)

EUR/USD
Reversal from 1.3784 broke below 1.3446 previous low, to test 1.3334/32, 90 day MA / 06 Aug peak, with scope for further weakness towards 1.3230, 61.8% retracement of 1.2586/1.4280 / main trendline off 1.1875, and 1.3134, 200 day MA. Higher low is anticipated at this zone in order to keep bulls off 1.1875 in play, otherwise stronger correction towards 1.30 would be likely.

Res: 1.3417, 1.3443, 1.3459, 1.3525
Sup: 1.3230, 1.3134, 1.3027, 1.2920

http://mediaserver.fxstreet.com/Repo...1124094953.gif


GBP/USD
Extends reversal following an upside rejection at 1.61, with loss of 1.5838 previous low, sparking a fresh weakness to just above 1.5737, 90- day MA. Further downside looks for 1.5649 higher platform, then 1.5509, 50% retracement of 1.4230/1.6297 ascend. Upside is seen capped by 1.5837/97, while regain of 1.5950 needed to provide relief.

Res: 1.5837, 1.5897, 1.5934, 1.5965
Sup: 1.5729, 1.5689, 1.5649, 1.5509

http://mediaserver.fxstreet.com/Repo...1124094933.gif



USD/JPY
Break below the recent consolidative range turns focus downside. Immediate support lies at 82.82/72, 60-day MA / yesterday’s low, and break here to open way for further correction towards 82.46/04, 38.2% / 50% of 80.24/83.83 upleg. To avoid immediate downside risk, 83.35/60 must be regained.

Res: 83.35, 83.60, 83.83, 83.97
Sup: 82.79, 82.46, 82.04, 81.63

http://mediaserver.fxstreet.com/Repo...1124094912.gif



USD/CHF
Turns the focus higher towards the recent range’s upper boundary, after 0.9850 support contained the latest attempts lower. This now underpins the advance, along with 0.9837, 60 day MA, with break above parity level required to resume bulls off 0.9546 higher low. Upside targets lay at 1.0044/1.0183, 50%/61.8% retracement of 1.0638/0.9461 decline. Loss of 0.9849, however, would weaken the near-term structure.


Res: 1.0000, 1.0044, 1.0075, 1.0183
Sup: 0.9930, 0.9908, 0.9871, 0.9849

http://mediaserver.fxstreet.com/Repo...1124094847.gif