EURUSD

Corrected from 1.3172, Monday’s high to 1.3084, ahead of renewed strength. Gains cleared 1.3172 and 1.3200 barriers to reach 1.3216, new high, overnight. Pullback from there is underway and while 1.3155, trendline support drawn off 1.3084; 1.3118/00 holds, near-term bulls will remain intact for retest of 1.3216/27, today/22 Mar 05 highs. Downside break under 1.3100/84 would signal stronger correction instead.

 

Res: 1.3204, 1.3216, 1.3227, 1.3245

Sup: 1.3155, 1.3125, 1.3118, 1.3100

eurusd

 

 

GBPUSD

Resumed uptrend, following correction off 1.9465 high to 1.9304 on Monday. Fresh push higher breached 1.9465, extending gains to 1.9540 earlier today. Hourly conditions are extremely overbought, with immediate risk of pullback. 1.9367, yesterday’s low, offers strong support and ability to hold there would keep near-term bulls in play for fresh attempt higher, with clearance of 1.9540 to expose 1.9550, 16 Dec 04 high.

 

Res: 1.9540, 1.9554, 1.9570, 1.9600

Sup: 1.9450, 1.9425, 1.9402, 1.9367

gbpusd

 

 

USDJPY

Downmove from 118.12, 21 Nov lower top reached 115.37 low on Monday, ahead of correction higher. 116.39 have been reached so far and this needs to cap to keep bears in play. 115.57/37 seen as next targets, ahead of 115.12, 11 Aug low, with potential break there to spark further weakness. Above 116.39/47 will delay bears and allow stronger correction.

 

Res: 116.26, 116.39, 116.47, 116.65

Sup: 115.57, 115.37, 115.12, 115.00

usdjpy

 

USDCHF

Steep decline from 1.2535/1.2449, 17 Nov high/21 Nov lower high, reached 1.2011 low earlier today, ahead of bounce. 1.2088 being reached so far, though, market needs to clear 1.2090/1.2107, 28/27 Nov high, to ease immediate bear pressure and allow for stronger correction towards 1.2200 zone, otherwise fresh attack on 1.2011 and potential break lower to focus 1.1920, 15 May low, would be likely.

 

Res: 1.2090, 1.2107, 1.2118, 1.2150

Sup: 1.2030, 1.2011, 1.2000, 1.1965

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