EUR/USD

Hourly studies remain on the negative zone, as today’s sharp bounce, driven by news, was short-lived. Earlier brief break below 1.3700, channel support, keeps the downside in focus and below 1.3680, today’s low to open 1.3655 and key short-term support at 1.3607, 01 Nov low. Short-term price action sees the upside capped at 1.3850, Fibonacci level and only clear break here to extend correction off 1.3607.

Res: 1.3789, 1.3800, 1.3829, 1.3850
Sup: 1.3721, 1.3710, 1.3680, 1.3655

GBP/USD

Near-term price action remains capped at 1.6070 zone, after fresh rally from today’s higher low at 1.5978, just above strong support at 1.5950, stalled after brief break higher to 1.6078. Quick reversal towards 1.6000 zone confirms near-term congestion, as hourly studies are neutral. Reclaim of 1.6100 barrier is required to signal fresh strength, however, break above key barrier at 1.6140, daily 200 day SMA, to confirm. On the downside, loss of 1.5980, range floor, to weaken the structure for 1.5945 initially, ahead of key short-term support zone at 1.5900/1.5875.

Res: 1.6063, 1.6078, 1.6091, 1.6100
Sup: 1.6000, 1.5978, 1.5950, 1.5900

USD/JPY

The pair continues to move within a narrow range, with reversal from last Friday’s high at78.25, currently testing initial support at 78.00. Below here 77.75, 31 Oct low at 77.55, Fib 50% of the recent post-intervention rally, offers strong support and only below here to risk a return to the pre-intervention 77.00/76.00 range. On the upside, 78.25/40 offer initial resistance, while break above 79.00 to focus 79.52, 31 Oct high. Hourly studies are skewed to the downside.

Res: 78.24, 78.40, 79.00, 79.52
Sup: 78.00, 77.88, 77.75, 77.55

USD/CHF

Today’s rally through 0.8957, previous high, confirms short-term bulls and ends corrective phase from 0.8957. Upside extension through 0.9000 mark, has so far tested Fib 61.8% of 0.9313/0.8566 descend, with positive near-term studies seeing potential for test of 0.9081, 20 Oct high, next. Corrective pullback on overbought hourly conditions, should find support at/above 0.8900, to maintain short-term positive structure.

Res: 0.9000, 0.9030, 0.9081, 0.9100
Sup: 0.8957, 0.8943, 0.8915, 0.8900