EUR/USD

The Euro finds temporary ground at 1.2830 area, where 200 day MA held near-term decline. Fresh strength, boosted by positive fundamentals, regained psychological and trendline resistance at 1.2900, with yesterday’s close above, giving more optimistic outlook in the near-term. Positive hourly studies keep the upside favored and focus next barrier at 1.2960/70 zone, 25 Sep high / Fib 38.2% of 1.3170/1.2828 descend and 4h Ichimoku cloud base, above which to confirm near-term base and allow for stronger correction, with 1.3000 seen on a break. Initial support at 1.2900 area, where 20/55 day EMA lie, along with broken bear-trendline off 1.3170, is expected to hold corrective dips and keep near-term bulls in play.

Res: 1.2942, 1.2959, 1.2969, 1.3000
Sup: 1.2923, 1.2907, 1.2890, 1.2865

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GBP/USD

Cable extends bounce off 1.6136, where support was found, with regain of initial 1.6200 barrier and extension through next one at 1.6266, giving more credential for possible return to key barriers at 1.6300 zone. Fresh bounce also shows that larger picture’s bulls remain fully in play, with recent price action seen as consolidation. Near-term indicators are now in the positive territory, with hourlies entering overbought territory and signaling corrective action. Any dips should ideally be contained at/above 1.6200, to maintain positive near-term sentiment.

Res: 1.6271, 1.6294, 1.6300, 1.6308
Sup: 1.6242, 1.6234, 1.6220, 1.6200

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USD/JPY

The pair loses ground again, as brief recovery attempt failed on approach to initial 78.00 barrier. The near-term sentiment remains negative and drives the price towards our targets at 77.12/00, after losing 77.58, previous low. Near-term studies are in the negative territory and 20 day EMA, maintains bears on hourly chart. Any bounce higher, requires regain of minimum 78.00 to signal improvement.

Res: 77.58, 77.90, 78.00, 78.27
Sup: 77.45, 77.12, 77.00, 76.48

usdjpy



USD/CHF

Unable to break above strong 0.9400/16 resistance zone on a second attempt, where 0.9416 was reached, triggered stronger pullback to 0.9350, near 38.2% of 0.9237/0.9408 recovery rally. Immediate risk turn towards the downside, as hourly studies moved into negative zone, with 4h chart indicators in a descending mode and price below moving averages. However, holding above 0.9326, 25 sep higher low, keeps hopes of fresh attempt higher in play, as the barrier has already been cracked. Clearance of pivotal 0.9400/16, also 200 day MA, is seen as a trigger for fresh recovery towards 0.9447 and 0.9500. Slide below 0.9326 and 0.9300, Fib 61.8% and trendline support, will be bearish.

Res: 0.9375, 0.9400, 0.9416, 0.9432
Sup: 0.9349, 0.9340, 0.9326, 0.9300

usdchf