| R3 | 1.0738 |
| R2 | 1.0714 |
| R1 | 1.0677 |
| Pivot | 1.0653 |
| S1 | 1.0617 |
| S2 | 1.0592 |
| S3 | 1.0555 |
EURUSD (1.06): EURUSD's bearish close yesterday below 1.0697 support off the daily chart increases the likelihood for further declines to 1.0488 in the near term with the possibility of a bounce back to the broken support to establish resistance. On the H4 chart, the resistance is identified near 1.0701 where a retest is likely to happen. Failure to break the resistance between 1.0701 through 1.0697 could see continued declines in EURUSD to 1.0488. The upside is also limited by the next main resistance level at 1.08206 region.
| R3 | 123.879 |
| R2 | 123.678 |
| R1 | 123.557 |
| Pivot | 123.366 |
| S1 | 123.245 |
| S2 | 123.054 |
| S3 | 122.933 |
USDJPY (123.2): USDJPYhas formed a bullish flag patter on the daily charts with prices breaking outyesterday following a bullish engulfing candle the day before. prices arecurrently posting a decline but the downside is likely to be limited to 122.932support, while to the upside the rally could see a test to 124.775 region. Onthe H4 chart, with the support resistance at 123.088 being broken, this levelis likely to be tested for support ahead of further rallies. Failure toestablish support at 123.088 could however turn the USDJPY sentiment withdeclines likely to see a test to 121.921 support.
| R3 | 1.5332 |
| R2 | 1.5285 |
| R1 | 1.5248 |
| Pivot | 1.5202 |
| S1 | 1.5165 |
| S2 | 1.5118 |
| S3 | 1.5081 |
GBPUSD (1.52): GBPUSD's daily price action saw a doji candle being formed yesterday limiting the downside for the moment. However, with prices stuck below resistance level at 1.5237 further test to 1.5121 is likely. On the H4 charts, prices are moving sideways near the 1.5217 - 1.52 region, with the support at 1.5136 and resistance of 1.5288 being the first levels of support and resistance which needs to be broken to establish a bias.
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