EUR/USD
Remains in a near term corrective mode off 1.2586, 24 Aug low. Break above 1.2730 resistance has so far reached 1.2763. Underlying bear trend is still intact, as 1.2776 Fibonacci level holds, and fresh weakness towards 1.2586/22 would be likely scenario. Break above 1.2776/90 risks stronger recovery and focuses 1.2831/1.2900 zone.
Res: 1.2770, 1.2790, 1.2831, 1.2880
Sup: 1.2690, 1.2665, 1.2651, 1.2608
GBP/USD
Bounce off 1.5371, 24 Aug low, stalled at 1.5596 yesterday, just under 1.5610, 38.2% retracement of 1.5997/1.5371 decline, ahead of fresh weakness. Break below 1.5438 would confirm a lower top and continuation of the short term weakness, to focus 1.5371.
Higher low above 1.5438 is required to resume recovery and clearance of 1.5596/1.5610to open 1.5700 zone for test.
Res: 1.5573, 1.5596, 1.5610, 1.5617
Sup: 1.5465, 1.5438, 1.5400, 1.5371
USD/JPY
Completed a multiday bear configuration to extend the underlying downtrend. 83.58 has been reached so far, ahead of the current corrective bounce which should precede a fresh push lower to test key trendline support at 83.25. Today’s break above 84.73/92 resistance zone may extend the recovery phase, though, only above 85.90 improves the outlook.
Res: 85.11, 85.42, 85.68, 85.90
Sup: 84.26, 84.04, 83.58, 83.25
USD/CHF
Extends decline after breaking below 1.0256/46 support zone, with 1.0220 seen so far. Market now focuses 1.0182, 15 Jan low, break of which will open way for test of key 1.0130 level, 11 Jan year to day low. Upside, lower ceiling at 1.0317/35 is expected to cap.
Res: 1.0287, 1.0317, 1.0335, 1.0380
Sup: 1.0220, 1.0182, 1.0162, 1.0130
Remains in a near term corrective mode off 1.2586, 24 Aug low. Break above 1.2730 resistance has so far reached 1.2763. Underlying bear trend is still intact, as 1.2776 Fibonacci level holds, and fresh weakness towards 1.2586/22 would be likely scenario. Break above 1.2776/90 risks stronger recovery and focuses 1.2831/1.2900 zone.
Res: 1.2770, 1.2790, 1.2831, 1.2880
Sup: 1.2690, 1.2665, 1.2651, 1.2608
GBP/USD
Bounce off 1.5371, 24 Aug low, stalled at 1.5596 yesterday, just under 1.5610, 38.2% retracement of 1.5997/1.5371 decline, ahead of fresh weakness. Break below 1.5438 would confirm a lower top and continuation of the short term weakness, to focus 1.5371.
Higher low above 1.5438 is required to resume recovery and clearance of 1.5596/1.5610to open 1.5700 zone for test.
Res: 1.5573, 1.5596, 1.5610, 1.5617
Sup: 1.5465, 1.5438, 1.5400, 1.5371
USD/JPY
Completed a multiday bear configuration to extend the underlying downtrend. 83.58 has been reached so far, ahead of the current corrective bounce which should precede a fresh push lower to test key trendline support at 83.25. Today’s break above 84.73/92 resistance zone may extend the recovery phase, though, only above 85.90 improves the outlook.
Res: 85.11, 85.42, 85.68, 85.90
Sup: 84.26, 84.04, 83.58, 83.25
USD/CHF
Extends decline after breaking below 1.0256/46 support zone, with 1.0220 seen so far. Market now focuses 1.0182, 15 Jan low, break of which will open way for test of key 1.0130 level, 11 Jan year to day low. Upside, lower ceiling at 1.0317/35 is expected to cap.
Res: 1.0287, 1.0317, 1.0335, 1.0380
Sup: 1.0220, 1.0182, 1.0162, 1.0130