EUR/USD

Today’s extension of downtrend from 1.3810, 14 Nov high, hit fresh one month low at 1.3428, just ahead of next target at 1.3400, figure support / Fib 76.4%. Corrective action was so far capped at our initial resistance at 1.3555, as the pair returns to the levels under 1.3500. Near-term negative structure keeps focus lower and loss of 1.3428 to open 1.3400, then 1.3360, the last defense of 1.3145, 02 Oct low. Resistances at 1.3550/70 and 20 day SMA at 1.3600 zone, maintaining bears.

Res: 1.3500, 1.3518, 1.3555, 1.3570
Sup: 1.3454, 1.3428, 1.3400, 1.3360

GBP/USD

Consolidates losses through 1.5870/20, recent range floor / daily 55 day SMA, that found temporary support at 1.5743. Subsequent bounce stalled just above 1.5800 mark, keeping near-term bears firmly in play, with focus on 1.5720/00, below which to open 1.5680/30, 20 / 18 Oct lows. Initial resistance lies at 1.5814, today’s recovery ceiling, above which come strong resistance zone at 1.5850/70.

Res: 1.5800, 1.5814, 1.5850, 1.5870
Sup: 1.5743, 1.5720, 1.5700, 1.5680

USD/JPY

The pair maintains near-term sideways movement, with range limits at 76.80 and 77.15. Near-term outlook, however, remains skewed to the downside, as technical indicators are still in the negative territory, with fresh weakness through 76.80 seen favored for now. Below here opens 76.50/30, while upside clearance of initial barriers at 77.00/15, delays for possible test of 77.50 spike high.

Res: 77.00, 77.15, 77.50, 77.72
Sup: 76.84, 76.80, 76.67, 76.50

USD/CHF

Near-term price action gets congested under 0.9200 barrier, after fresh strength from today’s low at 0.9137 failed to reclaim 0.9200. This may delay immediate bulls as head and shoulders pattern is forming on hourly chart, with break below the neckline at 0.9140 to complete the pattern and signal further retracement of the latest rally that peaked at 0.9221 today. Below 0.9140, opens 0.9120/00, ahead of strong support at 0.9080. On the upside, clearance of 0.9200/21 is required to resume gains towards key barrier at 0.9313.

Res:0.9200, 0.9221, 0.9250, 0.9278
Sup: 0.9156, 0.9124, 0.9100, 0.9080