EURUSD
Yesterday’s sharp rally from 1.2677 correction low, reached 1.2779 high, ahead of pullback. Correction has so far reached 1.2739, though deeper reversal towards 1.2720/00 is not ruled out before fresh attempt higher. Upside clearance of 1.2779 should open way towards 1.2827/42 next. Only break under 1.2677 would sideline bulls.
Res: 1.2779, 1.2800, 1.2827, 1.2842
Sup: 1.2739, 1.2720, 1.2700, 1.2677
GBPUSD
Continues to trend higher, with yesterday’s advance from 1.8990, correction low, exceeding 1.9071, previous 25 Sep high, testing now 1.9100 barrier. Further gains would target 1.9127 and 1.9142, 2006 high, posted in August, though hourly studies are approaching overbought territory and corrective pullback may delay rally. Downside, 1.9052/40 offers initial support.
Res: 1.9113, 1.9127, 1.9142, 1.9160
Sup: 1.9052, 1.9040, 1.9030, 1.9000
USDJPY
Recovery attempt from 118.18/30, yesterday lows, failed at 118.00 area, with sharp fall followed. Losses have breached 2 month trendline support, drawn off 113.96, 04 Aug higher low at 117.24, extending decline to 116.61 low, posted yesterday. Persisting weak tone keeps the downside in focus and current attempt higher is seen corrective, ahead of fresh weakness. 117.13/29 caps for now and potential break below 116.61 to focus 116.23, ahead of 116.07, 22 Sep low.
Res: 117.13, 117.60, 117.70, 118.02
Sup: 116.61, 116.35, 116.23, 116.07
USDCHF
Remains in downtrend from 1.2702, 24 Oct lower high, with yesterday’s correction attempt failure at 1.2515/25, triggering sharp losses to 1.2412 low reached late yesterday, retracing over 70% of 1.2288/1.2768 rally. Bears are firmly in play, looking to challenge 1.2400 zone, while upside attempts seen corrective with 1.2470/85 capping for now. Only sustained gains above 1.2515/25 would improve the outlook.
Res: 1.2470, 1.2485, 1.2500, 1.2525
Sup: 1.2412, 1.2400, 1.2370, 1.2350
