EUR/USD

The Euro trades in a choppy, after finding temporary ground at 1.2660, fresh two-month low, posted earlier today. Recovery attempts through 1.2700 were so far capped by descending 4h 20 day EMA at 1.2725 and below 1.2740, yesterday’s high and Fib 38.2% of 1.2875/1.2660 descend. As long as the latter stays intact, the downside will remain vulnerable, as hourly negative tone keeps the scenario of fresh weakness through 1.2660 that will open 1.2606, 50% of 1.2042/1.3170, next. Conversely, rally through 1.2740 would shift near-term focus towards more significant 1.2780/1.2800 barriers.

Res: 1.2725, 1.2740, 1.2768, 1.2787
Sup: 1.2670, 1.2660, 1.2606, 1.2588

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GBP/USD

Cable’s bounce through initial 1.5900 barrier that was signaled by hourly MACD bullish divergence was short-lived, as subsequent reversal erased nearly all gains from today’s fresh low at 1.5857. Slight improvement on hourly studies, and overextended conditions on 4h chart, see potential of further consolidation, however, no significant results to be expected while the price holds below 1.5950, previous range floor and near Fib 61.8% of 1.6018/1.5857 downleg. Overall bearish tone keeps the downside favored, with break below 200 day MA at 1.5848, seen as a trigger for fresh extension of broader downtrend from 1.6308, towards initial 1.5800 and more significant 1.5670/60, June/July range top.

Res: 1.5914, 1.5914, 1.5928, 1.5950
Sup: 1.5857, 1.5848, 1.5800, 1.5787

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USD/JPY

Continuation of consolidative sideways movements, signaled by double Doji, is seen on today’s price action, as the pair continues to range between 79.20 and 79.60, where 200 day MA capped today’s rallies. Hourly studies hold neutral tone, with 4h chart negative studies, requiring break above minimum 79.70, Fib 38.2% of 80.67/79.06, to signal near-term base. Regain of 80.00, psychological barrier and 4h Ichimoku clod base, would confirm near-term recovery. Otherwise, renewed attack at 79.00, could result of fresh weakness towards 78.50, Fib 61.8% of 77.12/80.67 ascend.

Res: 79.63, 79.70, 79.87, 80.00
Sup: 79.36, 79.20, 79.06, 79.00

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USD/CHF

The pair remains congested under 0.9500 barrier following brief break higher and failure to sustain gains. Hourly studies are losing momentum, as well as 4h chart indicators that start to point lower and bears running out of steam. This could result in stronger correction, in case today’s spike low at 0.9463 is lost that would open way towards more significant support at 0.9430 zone, last Friday’s low / 01/10 Oct double-top. Larger picture bulls, however, keeps the upside in focus, as clear break above 0.9500 is expected to open 0.9600 zone next.

Res: 0.9500, 0.9511, 0.9524, 0.9550
Sup: 0.9463, 0.9450, 0.9427, 0.9400

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