EUR/USD

Break above key barriers at 1.3900/13 confirms the end of 1.3913/1.3652 corrective phase. Daily studies are entering positive territory, with MACD emerging above the midline and clearance of 55 day MA, setting scope for test of 1.4000, Fib 61.8% of 1.4548/1.3145 descend, above which to focus 1.4065/85, 90/200 day MA’s. Positive hourly studies maintain bullish tone, however, RSI in overbought zone, warns of corrective pullback. Initial support lies at 1.3900 zone, ahead of dynamic at 1.3870, 20 day MA, with key near-term level at 1.3820.

Res: 1.3950, 1.3971, 1.4000, 1.4056
Sup: 1.3900, 1.3870, 1.3842, 1.3820




GBP/USD

Maintains bullish tone after last Friday’s strong rally cleared 1.5900 barrier and daily 55 day MA at 1.5930, with mild consolidation under 1.5971, Friday’s high, followed. Today’s fresh strength approaches 1.6000, psychological barrier, ahead of dynamic resistance of 90 day MA, at 1.6021, above which to target Fibonacci 61.8% of 1.6617/1.5271 downleg at 1.6097 and 200 day MA at 1.6136. Hourly 20 day MA, currently at 1.5945, underpins the advance, with strong support zone at 1.5915/00, and 1.5850, previous highs. Overbought hourly conditions may signal corrective reversal preceding fresh rally.

Res: 1.6000, 1.6043, 1.6082, 1.6100
Sup: 1.5972, 1.5930, 1.5915, 1.5900




USD/JPY

Near-term studies remain weak after the pair broke below the recent range on Friday, with spike low at 75.80, posting fresh record low. Consolidation under 76.60, previous range floor, is under way, with negative hourly/4-hour studies, keeping the focus at the downside. Below 75.80 to signal fresh bear phase, while daily 55 day MA at 76.77 and main bear-trendline, currently at 77.00, cap the upside.

Res: 76.47, 76.55, 76.65, 76.85
Sup: 76.18, 76.00, 75.80, 75.50





USD/CHF

The near-term price action maintains bearish tone, after recovery attempt from 0.8880, last week’s fresh low, was capped by daily 20 day MA, just under 0.9100 barrier. Subsequent weakness through main bull-trendline from 0.7067 at 0.8986 and break below 0.8880 support, has so far tested 0.8800 zone. Current consolidation is seen preceding fresh leg lower, with break below 0.8800, to focus 200 day MA, currently at 0.8754, below which to signal temporary top and open way for stronger reversal. Immediate resistance lies at 0.8850 zone, while only regain of 0.8950 to ease bear-pressure.

Res: 0.8856, 0.8866, 0.8900, 0.8950
Sup: 0.8804, 0.8789, 0.8754, 0.8700