Short Term Technical Analysis for Majors (15:20 GMT)

EUR/USD
Reversal from 1.3426 found support at 1.3181, just above 1.3163, key near-term support. Fresh gains cleared the first barrier at 1.3281, currently attempting at 1.3322, 09 Dec lower top and near 61.8% of 1.3426/1.3163 decline. Sustained break higher will turn focus higher and expose 1.3399/1.3426 for retest, with clearance of the latter to resume correction off 1.2968. Downside, 1.3235/1.3181 zone underpins the advance.

Res: 1.3324, 1.3340, 1.3399, 1.3426
Sup: 1.3235, 1.3181, 1.3163, 1.3143

http://mediaserver.fxstreet.com/Repo...1213151937.gif


GBP/USD
Extended pullback from fresh high at 1.5861 to approach the first support at 1.5710. Further reversal into 1.5667 is not ruled out, before higher low is created, with regain of 1.5861 needed to signal resumption of uptrend from 1.5483 and expose 1.5889, 50% retracement of 1.6297/1.5483 decline next. Loss of 1.5667, however, would risk a deeper setback towards 1.5627, 61.8% of 1.5483/1.5861.

Res: 1.5818, 1.5840, 1.5861, 1.5889
Sup: 1.5710, 1.5667, 1.5655, 1.5610

http://mediaserver.fxstreet.com/Repo...1213151915.gif



USD/JPY
Recent strength from 83.44 higher low briefly tested 84.29/39 key near-term resistance area, ahead of sharp reversal. Loss of 83.83/70 supports now opens 83.44, which should contain dips to maintain near-term bulls for renewed attempt at 84.39, possibly 85.40 on a break. Loss of 83.44, however, would turn the immediate focus lower and confirm near-term double top.

Res: 84.09, 84.39, 84.60, 85.20
Sup: 83.44, 83.31, 82.98, 82.54

http://mediaserver.fxstreet.com/Repo...1213151847.gif



USD/CHF
Resumes the downtrend from 1.0064 after the recent recovery attempt off 0.9724 stalled at 0.9913 and accelerating losses from 0.9849, today’s lower top. The key near-term support at 0.9724 has been cleared, with trendline connecting 0.9461 and 0.9546 at 0.9695 being tested. Break here would signal further weakness towards 0.0.9668, then 0.9585/46. Only regain of 0.9849 to improve the near-term outlook.


Res: 0.9792, 0.9849, 0.9893, 0.9913
Sup: 0.9668, 0.9626, 0.9585, 0.9546

http://mediaserver.fxstreet.com/Repo...1213151811.gif