EUR/USD: Failed to sustain probes above the 1.0600 level

EUR/USD

Failed to sustain probes above the 1.0600 level and setback from the 1.0627 high see support at the 1.0500 level and 1.0480. Failure to hold the latter will trigger deeper pullback to 1.0435 support. Would need to sustain break of the 1.0600 level to shift focus to 1.0653 and 1.0670 resistance. [PL]

EURUSD

USD/CHF

Stays in consolidation above the 1.0087 low of last week and bounce see resistance at the 1.0200/19 area. While the latter caps, risk is seen for return to pressure the downside later and trigger deeper correction of the Nov/Dec up-leg to 1.0021 support then the parity level. [PL]

USDCHF

USD/JPY

Held firm above the 115.00 level yesterday and keep ranging action in play within the 117.50/115.00 area. However, the downside still vulnerable following setback from the 118.60 high last week. Below 115.07 and 114.74 support will trigger deeper corrective pullback. [PL]

USDJPY

EUR/CHF

Retains upside bias from the 1.0680 low of last week though the upside still limited ahead of the 1.0762 resistance. Would need lift over this to trigger a double bottom at the 1.0680 lows and clear the way for stronger recovery to the 1.0800 level. Support now at the 1.0700 then the 1.0680 low. [PL]

EURCHF

GBP/USD

View unchanged from this morning with recovery from last session's low of 1.2108 stalling decline to stronger support at 1.2083 with trade now a touch firmer in consolidation and only lift above 1.2278 resistance to provide the impetus for stronger rebound. [W.T]

GBPUSD

EUR/GBP

Rejection from the .8764 high seen retracing strong rally from the .8450 low and dips see support now at .8636 then the .8572, early Dec high. The latter must hold to keep bulls in control and see renewed strength later. Below the .8572 support will weaken and see return to the .8500 level and .8450 support. [PL]

EURGBP

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