EUR/USD

Remains under pressure, as the worsening situation in the Eurozone, continue to drive the pair lower. Overnight’s fresh weakness briefly probed levels under 1.3300 handle, with weekly close below here, to signal further weakness and look for full retracement of 1.3145/1.4246 rally. Some profit taking and bounce higher is not ruled out, as the end of the week comes, however, while 1.3410, previous strong support, now resistance, also Fib 50% of 1.3529/1.3297 downleg, contains the upside action, short-term bears will remain intact.

Res: 1.3352, 1.3410, 1.3429, 1.3450
Sup: 1.3297, 1.3242, 1.3200, 1.3145

GBP/USD

Continues to travel south after losing another strong support at 1.5500 to hit fresh 7-week low at 1.5545 today. Short-term studies remain in the negative territory and favor further weakness, with 1.5420/00 in focus, however, extended 4-hour conditions suggest correction. Immediate support lies at 1.5500 and 1.5564, yesterday’s high, while only break above 1.5600, near fib 38.2% of 1.5887/1.5445 downleg, would ease immediate bear pressure.

Res: 1.5500, 1.5564, 1.5581, 1.5600
Sup: 1.5445, 1.5420, 1.5400, 1.5326

USD/JPY

Maintains near-term positive sentiment after reversal that followed upside rejection at 77.57, found footstep at 77.00. Fresh gains above here are looking for clearance of key near-term barrier at 77.57, with 77.52 seen so far, to resume gains towards 78.00 initially. Positive hourly studies support the latest action, however, ¼ hour RSI close to overbought zone, may delay gains in favor of corrective pullback. Initial support at 77.20, yesterday’s intraday high / 20 day SMA, is expected to contain dips, while break below 77.00 handle would delay.

Res: 77.52, 77.86, 78.00, 78.23
Sup: 77.20, 77.00, 76.91, 76.80

USD/CHF

Short-term bulls are fully in play, as the pair managed to clear 0.9200 barrier, also main bear trendline that was capping the upside in a past few days. Gains so far tested main short-term barrier at 0.9234, 17 Nov high, break of which to open way towards our targets at 0.9313/38, 02 Oct / 27 Mar highs. Positive hourly studies underpin the price action, with corrective pullback on overbought conditions is likely. Initial support lies at 0.9200, while only extension below 0.9152 would put immediate bulls on hold.

Res: 0.9234, 0.9278, 0.9300, 0.9313
Sup: 0.9200, 1.9187, 0.9152, 0.9125