EUR/USD
Current level-1.2897
EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are rising, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4721.
Yesterday's break above the crucial 1.2913 has confirmed, that the slide from 1.2992 is a corrective one and the minor uptrend from 1.2874 peaked at 1.3092. According to our short-term view, yesterday's high at 1.3092 was a final of the consolidation above 1.2705 (Feb. 02) , so further weakness is to be expected, towards 1.2653 and 1.2547. Intraday bias is positive for 1.2953, which is a perfect level for the corrective rebound from 1.2811 to end and a downtrend should emerge, towards 1.2705.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.2953 | 1.3092 | 1.3328 | 1.3820 |
| Support | 1.2811 | 1.2705 | 1.2547 | 1.2330 |
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USD/JPY
Current level - 91.17
The pair has finalized its consolidation above 90.95 at 97.48 and the general downtrend has been renewed, targeting 79.86. Trading is situated below the 50- and 200-day SMA, currently projected at 107.61 and 105.76.
As expected the pair was well supported at 90.73 and the rise from these levels doubled the top at 92.21. Intraday bias is neutral, but only a clear break below 90.73 will set next target at the dynamic 89.38. We will keep our short-term view, that current range above 87.12 precedes a strong downtrend towards 83.01.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 91.56 | 92.21 | 93.12 | 94.64 |
| Support | 90.73 | 89.38 | 87.12 | 79.83 |
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GBP/USD
Current level- 1.4848
The pair is in a larger corrective phase towards 1.60+, after bottoming at 1.3506. Trading is situated below the 50- and 200-day SMA, currently projected at 1.5505 and 1.8341.
Our target at 1.4986 has been precisely hit yesterday and we think, that this high marks the final of the uptrend from 1.4050. A larger consolidation pattern is expected to emerge, aiming at 1.4590 support. More broadly speaking the pair is in a clear uptrend towards 1.5727.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.4901 | 1.4986 | 1.5370 | 1.5722 |
| Support | 1.4706 | 1.4590 | 1.4020 | 1.3506 |
