EUR/USD

The single currency remains under pressure, as brief recovery off overnight’s low at 1.3370, failed to capitalize on a break above initial 1.3400 barrier. Fresh weakness below previous low and 50% of 1.3037/1.3710 sees risk of weekly close below 1.3400 that would confirm that the pair is in corrective phase, with immediate targets at 1.3300, Dec/Jan consolidation range top / Fib 61.8% and 1.3265, mid Jan higher platform, also close to bull trendline off 1.2660, currently at 1.3220. Persisting negative tone on 4h chart, sees room for further easing, while higher pointing hourly indicators are not expected to produce any more significant recovery, while below 1.3500. Session high at 1.3428, offers initial resistance, ahead strong 1.3458, 05 Feb low and 1.3500, Fib 61.8% of 1.3576/1.3359 slide.

Res: 1.3400, 1.3428, 1.3458, 1.3500
Sup: 1.3370, 1.3359, 1.3300, 1.3260

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GBP/USD

Recovery rally off 1.5630 that regained 1.5800 barrier, confirms near-term base, as full retracement of 1.5804/1.5630 occurred on today’s extension to 1.5820 so far. This marks 76.4% of larger 1.5877/1.5630 decline and previous larger range floor and shifts near-term focus towards 1.5877, 01 Feb high, with the notion being supported by 4h indicators emerging above their midlines. Overbought hourlies are behind brief easing, with previous peak at 1.5877, acting as initial support and dips expected not to extend below 1.5750, 38.2% of 1.5630/1.5820, to keep immediate bullish tone intact. Weekly close above 1.5800 is seen as supportive for possible stronger recovery, as bearish tone sees the current move as corrective part of broader downtrend from 1.6380, 02 Jan peak.

Res: 1.5820, 1.5844,1.5877, 1.5900
Sup: 1.5774, 1.5750, 1.5715, 1.5700

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USD/JPY

The pair averts immediate risk of break below important 92.00 support, as recent reversal’s acceleration through 93.00, found footstep at 50% of 90.31/94.01 ascend and subsequent bounce approaches 93.00 handle. This marks mid-point of 98.22/92.15 descend, with break and close above here, seen as initial signal for possible extension towards the upside barrier and confirmation of higher low. However, risk of stronger reversal, signaled by daily double-Doji exists, with weekly close near/below 92.00 handle, required to confirm.

Res: 92.88, 93.00, 93.31, 93.58
Sup: 92.61, 92.17, 92.00, 91.77

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USD/CHF

Near-term bulls consolidate under 0.9200 barrier, 50% of 0.9387/0.9020 descend, reached yesterday, with brief easing being contained by 0.9150, 06 Feb spike high and initial support. Hourly studies are lacking momentum, despite being in the positive territory, however, more supportive 4h structure, sees scope for eventual attempt through 0.9200, also daily Ichimoku cloud base, with close above here, seen as initial signal for stronger correction that was indicated by a triple Doji, before the price rallied.

Res: 0.9186, 0.9200, 0.9220, 0.9250
Sup: 0.9150, 0.9131, 0.9115, 0.9095

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