EUR/USD – 9:00 (GMT+2) Skidded lower from 1.4867 22 Sep key lower top to reach 1.2329 on 28 Oct 2008 low - 28 Oct before rebounding to 1.3300 on 30 Oct. A 2 legged decline from here saw 1.2527, Tuesday, ahead of an upswing to 1.3117 yesterday. This has been forming a bear flag & the lower level at 1.2650 is now under pressure. Below opens 1.2527/1.2329 1st, near-term objectives 1.2134 50% retracement. 1.2932 buoys.
Res: 1.2805, 1.2874, 1.2932, 1.2957
Sup: 1.2650, 1.2615, 1.2568, 1.2527
USD/JPY – 9:00 (GMT+2) Pulling back from Tuesday's weekly high of 100.56 near 50% of 110.67/90.87 fall as Wednesday's bear engulfing candle beckons. Further decline within a minor negative channel may stretch towards 96.85/75 ahead of current range floor at 96.08/35 29/31 Oct lows where a swing low may be anticipated. Back over Thursday's 98.69 high hints renewed strength.
Res: 97.77, 98.25, 98.69, 99.07
Sup: 96.63, 96.35, 96.08, 95.71
GBP/USD – 9:00 (GMT+2) Continues to slip off recent daily spinning candle high of 1.6675 with Wednesday's 1.6200 lower high resulting in latest breach of 1.5602 reaction low 04 Nov. This exposes risk for a possible full retrace towards 1.5260 24 Oct low. Meantime, recovery for now is limited towards 1.5727/55 resistance zone.
Res: 1.5733, 1.5755, 1.5817, 1.5895
Sup: 1.5480, 1.5400, 1.5346, 1.5260
USD/CHF – 9:00 (GMT+2) Firmed off 1.0690 22 Sep low to reach 1.1748 on 24 Oct. A corrective dip followed to 1.1200 last Thursday ahead of a lower rejection. 1.1803 was then seen Tue, before a higher base developed at 1.1550. A 2 day bull wedge formed and this is fueling a challenge on 1.1803, where an anticipated break will open 1.1890 62% of 1.3286/0.9630), guards 1.2150 trend-line off Aug 03.1.1635 buoys.
Res: 1.1803, 1.1834, 1.1859, 1.1890
Sup: 1.1683, 1.1628, 1.1569, 1.1550
