EUR/USD

Remains in a near-term corrective mode from 1.3607, yesterday’s low, where heavy losses from 1.4246 high were contained. Brief regain of 1.3800 may bring more optimism in the near-term outlook, if break will be sustained, as improving hourly studies signaling further recovery, as possible scenario. Immediate barriers lie at 1.3850, Fib 38.2% of 1.4246/1.3607 downleg and 1.3870, yesterday’s high. On the other side, 4-hour studies maintain negative tone and seeing the recent rally as correction of the recent downtrend from 1.4246, with 20 day SMA at 1.3900 expected to cap. Only break above 1.3950, strong resistance zone, would improve the near-term outlook.

Res: 1.3826, 1.3850, 1.3870, 1.3900
Sup: 1.3746, 1.3710, 1.3635, 1.3607

GBP/USD

Near-term recovery attempt from 1.5890, yesterday’s low, gets congested at 1.6000 zone, as the pair failed to sustain gains above 1.6000. Temporary support was found at 1.5970, with fresh rally underway. Break above 20 day MA at 1.6030 and 1.6050, today’s high, is required to expose strong barrier at 1.6100, above which to signal formation of double bottom and re-focus 1.6151/64 peaks. Hourly studies are emerging above their midlines, with widening Bollingers, setting scope for fresh recovery. On the downside, 1.5900 offers strong support and break here to resume near-term bears off 1.6164, 31 Oct high.

Res: 1.6036, 1.6046, 1.6091, 1.6140
Sup: 1.5970, 1.5914, 1.5900, 1.5890

USD/JPY

The near-term price action is losing traction, as the pair slides below 78.00 handle, after failing to hold gains above the latter. Hourly positive tone is fading, with 20 day MA holding above the price. Four-hour studies are turning lower, setting scope for possible attack at key support zone at 77.85/75 and Fibonacci level at 77.50, below which to return to the past two month range. Upside remains capped under 78.50, while only regain of 79.00 handle to improve and expose post intervention high at 79.52.

Res: 78.40, 79.00, 79.52, 80.00
Sup: 77.93, 77.85, 77.75, 77.50

USD/CHF

The third wave of corrective pullback from yesterday’s high at 0.8957, briefly broke below 0.8800 mark. Negative hourly outlook favors further easing, as studies moved below their midlines, however, oversold conditions suggest corrective wave 4, that should ideally be capped by broken bear trendline off 0.9313, at 0.8765, ahead of final push lower that would, according to the wave principles, test 0.8765, Fib 50% of 0.8566/0.8957 ascend. Only regain of 0.8900, today’s high, would turn focus higher and open way for test of key near-term barrier at 0.8957.

Res: 0.8834, 0.8865, 0.8900, 0.8957
Sup: 0.8792, 0.8760, 0.8737, 0.8690