EURUSD
Extended downtrend after break of key 3 month bull trend at 1.2720, to reach 1.2513 yesterday, ahead of current bounce. 1.2706/35 offer initial resistance and failure to break higher will keep focus on 1.2513 then 1.2423. Clearance of 1.2735, however, opens way for stronger recovery.
Res: 1.2641, 1.2673, 1.2706, 1.2720
Sup: 1.2513, 1.2466, 1.2423, 1.2388
GBPUSD
Yesterday’s lower rejection at 1.4092 and base completion at 1.4320, signals a fresh bull phase. Market now targets 1.4434 and 1.4540, 38.2%/50% retracement of 1.4984/1.4095 downleg.
Res: 1.4419, 1.4434, 1.4485, 1.4540
Sup: 1.4210, 1.4175, 1.4123, 1.4071
USDJPY
Rallies off 89.70/81, 11/12 Feb double bottom continues to trend higher, with 93.96 seen so far. Market now seeks for 94.65, 6 Jan near-term high/pivot test. 92.75 now supports.
Res: 93.96, 94.15, 94.65, 94.99
Sup: 93.28, 92.68, 92.09, 91.86
USDCHF
Extends uptrend off 1.1315, 27 Jan low, to approach 1.1843, 76.4% retracement of 1.2298/1.0370 decline, break of which will open 1.1925, 04 Dec high, ahead of 1.2000 psychological level. Loss of 1.1652, however, weakens the structure.
Res: 1.1831, 1.1843, 1.1870, 1.1925
Sup: 1.1707, 1.1647, 1.1575, 1.1562
