EUR/USD
Reversal from yesterday’s failure at 1.4000 found support at 1.3911, ahead of fresh strength. Clearance of the key 1.4027 barrier has so far tested 1.4100, with 1.4195, 25 Jan high targeted next. Break here would open 1.4370, approx 76.4% retracement of 1.5144/1.1875 downleg, near-term. However, overbought hourly studies warn of correction, with 1.4027, offering initial support, while loss of 1.3911 delays.
Res:1.4180, 1.4195, 1.4260, 1.4370
Sup: 1.4027, 1.4000, 1.3953, 1.3942
GBP/USD
Fresh strength off 1.5754 higher low, broke above the recent 1.5668/1.6016 range, opening way for fresh bull leg. Market now targets 1.6070/1.6100 zone, break of which may extend the broader uptrend off 1.4230 towards 1.6250, near-term. Downside, 1.5880 supports the advance and only loss of 1.5754 would weaken the structure.
Res: 1.6070, 1.6100, 1.6115, 1.6180
Sup: 1.6016, 1.5961, 1.5907, 1.5887
USD/JPY
Extends losses through 81.37, previous low to complete a three-day pennant. Market has so far tested 81.00 level, with 80.50/00 seen next, ahead of possible test of 1995 key all-time low at 79.75. Upside remains capped by 82.00/34 and only break above the latter to ease bear pressure and open 82.55/83.00.
Res: 81.37, 81.76, 82.00, 82.55
Sup: 81.00, 80.50, 80.00, 79.75
USD/CHF
Yesterday’s upside rejection at 0.9640 has triggered fresh weakness through 0.9543, previous low, extending losses to post fresh all-time low at 0.9461 today. Further downside targets 0.9400, as major bear flag on daily chart continues to project further losses. Upside, 0.9543/53 now offers initial resistance, while break above 0.9640 provides relief.
Res: 0.9543, 0.9553, 0.9607, 0.9640
Sup: 0.9461, 0.9400, 0.9350, 0.9300
Reversal from yesterday’s failure at 1.4000 found support at 1.3911, ahead of fresh strength. Clearance of the key 1.4027 barrier has so far tested 1.4100, with 1.4195, 25 Jan high targeted next. Break here would open 1.4370, approx 76.4% retracement of 1.5144/1.1875 downleg, near-term. However, overbought hourly studies warn of correction, with 1.4027, offering initial support, while loss of 1.3911 delays.
Res:1.4180, 1.4195, 1.4260, 1.4370
Sup: 1.4027, 1.4000, 1.3953, 1.3942
GBP/USD
Fresh strength off 1.5754 higher low, broke above the recent 1.5668/1.6016 range, opening way for fresh bull leg. Market now targets 1.6070/1.6100 zone, break of which may extend the broader uptrend off 1.4230 towards 1.6250, near-term. Downside, 1.5880 supports the advance and only loss of 1.5754 would weaken the structure.
Res: 1.6070, 1.6100, 1.6115, 1.6180
Sup: 1.6016, 1.5961, 1.5907, 1.5887
USD/JPY
Extends losses through 81.37, previous low to complete a three-day pennant. Market has so far tested 81.00 level, with 80.50/00 seen next, ahead of possible test of 1995 key all-time low at 79.75. Upside remains capped by 82.00/34 and only break above the latter to ease bear pressure and open 82.55/83.00.
Res: 81.37, 81.76, 82.00, 82.55
Sup: 81.00, 80.50, 80.00, 79.75
USD/CHF
Yesterday’s upside rejection at 0.9640 has triggered fresh weakness through 0.9543, previous low, extending losses to post fresh all-time low at 0.9461 today. Further downside targets 0.9400, as major bear flag on daily chart continues to project further losses. Upside, 0.9543/53 now offers initial resistance, while break above 0.9640 provides relief.
Res: 0.9543, 0.9553, 0.9607, 0.9640
Sup: 0.9461, 0.9400, 0.9350, 0.9300