EUR/USD
Current level-1.2925
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 downward impulse bottomed at 1.2833 and having in mind, that it could not reach some of the important levels around 1.2746-78, we are tempted to think, that a bullish movement for 1.31+ and 1.3328 lies ahead. Crucial is 1.2746, as if we see a break below that level, it would transform the consolidation since 1.2706 into an inverted, bearish flag and will challenge 1.2547. Intraday resistance comes at 1.2945 and the pair has potential for one more downswing to 1.2811-33 before entering a bullish phase.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.2945 | 1.2997 | 1.31+ | 1.3328 |
| Support | 1.2817-33 | 1.2746 | 1.2547 | 1.2330 |
__________
USD/JPY
Current level - 90.07
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.
The downtrend from 91.53 has bottomed at 89.71 and rebounded well to the 90.73 resistance level. We hold on to our view, that the slide from 92.21 is the beginning of a sharp downtrend towards 86.31 and 83.01. Intraday resistance is 90.73 and the pair is targeting 88.63.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 90.73 | 92.21 | 93.12 | 94.64 |
| Support | 89.51 | 88.63 | 87.12 | 79.83 |
__________
GBP/USD
Current level- 1.4365
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.
Yesterday's brief test of the 1.4590 resistance failed and the pair was sold out to 1.4316 low. The overall bias is still negative for 1.4286 and if we see a break below that support, next important level will be 1.4020-50 zone. Only above 1.4560, a reversal will be confirmed.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.4435 | 1.4986 | 1.5370 | 1.5722 |
| Support | 1.4286 | 1.4173 | 1.4020 | 1.3506 |
