EUR/USD
Corrective phase off 1.2586 stalled at 1.2778, followed by reversal. Market retraced over 61.8% of 1.2586/1.2778 upleg, reaching 1.2624 today, ahead of fresh strength. This now keeps near-term bulls alive, though break above 1.2778 is required to resume recovery. Otherwise, lower top and fresh weakness towards 1.2624/1.2586 would be likely scenario, as short-term outlook remains negative.
Res: 1.2745, 1.2778, 1.2833, 1.2880
Sup: 1.2624, 1.2608, 1.2586, 1.2522
GBP/USD
The latest break below 1.5371 marks completion of the corrective phase from 1.5371, with the desired bounce failing to gain traction. Immediate risk is seen for an extension lower, with focus on 1.5125 near-term.
Res: 1.5472, 1.5533, 1.5573, 1.5596
Sup: 1.5335, 1.5322, 1.5296, 1.5250
USD/JPY
Maintains negative tone, following yesterday’s failure of the recovery attempt from 83.58. Reversal off 85.89 has so far reached 84.04, opening way for retest of 83.58, yearly low, and 83.51, Jun 1995 low. Corrective attempts are seen limited by 84.50/82 zone for now.
Res: 84.53, 84.82, 85.19, 85.46
Sup: 84.04, 83.89, 83.58, 83.51
USD/CHF
Continues to trend lower after breaking below 1.0220, 27 Aug low, now threatening the yearly low at 1.0130. Break here would risk an extension towards 1.0025, 02 Dec 2009 high, possibly 0.9960, 03 Dec 2009 low. Upside, only regain of 1.0301 improves.
Res: 1.0224, 1.0250, 1.0275, 1.0307
Sup: 1.0162, 1.0130, 1.0027, 0.9980
Corrective phase off 1.2586 stalled at 1.2778, followed by reversal. Market retraced over 61.8% of 1.2586/1.2778 upleg, reaching 1.2624 today, ahead of fresh strength. This now keeps near-term bulls alive, though break above 1.2778 is required to resume recovery. Otherwise, lower top and fresh weakness towards 1.2624/1.2586 would be likely scenario, as short-term outlook remains negative.
Res: 1.2745, 1.2778, 1.2833, 1.2880
Sup: 1.2624, 1.2608, 1.2586, 1.2522
GBP/USD
The latest break below 1.5371 marks completion of the corrective phase from 1.5371, with the desired bounce failing to gain traction. Immediate risk is seen for an extension lower, with focus on 1.5125 near-term.
Res: 1.5472, 1.5533, 1.5573, 1.5596
Sup: 1.5335, 1.5322, 1.5296, 1.5250
USD/JPY
Maintains negative tone, following yesterday’s failure of the recovery attempt from 83.58. Reversal off 85.89 has so far reached 84.04, opening way for retest of 83.58, yearly low, and 83.51, Jun 1995 low. Corrective attempts are seen limited by 84.50/82 zone for now.
Res: 84.53, 84.82, 85.19, 85.46
Sup: 84.04, 83.89, 83.58, 83.51
USD/CHF
Continues to trend lower after breaking below 1.0220, 27 Aug low, now threatening the yearly low at 1.0130. Break here would risk an extension towards 1.0025, 02 Dec 2009 high, possibly 0.9960, 03 Dec 2009 low. Upside, only regain of 1.0301 improves.
Res: 1.0224, 1.0250, 1.0275, 1.0307
Sup: 1.0162, 1.0130, 1.0027, 0.9980