USD/CHF: Rebound from the .9881 low

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EUR/USD Daily

Setback from the 1.0970 high see support now at the 1.0800 level. Would take break here to expose the 1.0711 low to retest. Higher low sought for rebound later and strength to clear the 1.0940/70 resistance will return focus to the 1.1000 level then the 1.1060 high. [PL]

USD/CHF Daily

Rebound from the .9881 low to regain parity level fades the downside pressure and see scope for return to 1.0052 then the 1.0125 high of last week. Bullish structure see support now at the .9881 low and break needed to expose the .9853 and .9786 lows to retest. [P.L]

USD/JPY Daily

Limited on probes below the 117.00 level and bounce see a long lower wick at the 116.70 low and keep the Aug spike low at 116.18 out of reach. Bounce would need to regain the 118.00 level and 118.25 resistance to trigger stronger recovery to the 118.83, Fri's high. [PL]

EUR/CHF Daily

Retains upside bias from the 1.0778 low of last week and see scope for retest of 1.0885 then the 1.0900 level. Lift above the latter will clear the way for retest of the 1.0940, Dec high. Would take setback to break the 1.0800 level to weaken and expose higher lows at 1.0778 and 1.0756 to retest. [P.L]

GBP/USD Daily

Pressure stays on the downside and rejection from the 1.4604 high yesterday see scope to retest the 1.4500 level then the 1.4494 low. Clear break here will see further decline to 1.4394 and 1.4346 then the 1.4228, 2010 low. Would need lift over the 1.4600 level and 1.4645 ease downside pressure and see stronger bounce. [PL]

EUR/GBP Daily

Backed off the .7555 high to unwind the stretched intraday tools though downside seen limited with support now at the .7424/00 area. Would take break of the latter to see deeper pullback to correct 8-wk up-leg from .6983 low. Clear break above the .6500 level will target .7592 then .7654, a 38.2% retracement level. [PL]

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