EUR/USD

Maintains near-term positive sentiment after pullback from day’s high at 1.2784 was contained by hourly 20 day SMA at 1.2724. Positive European data, released earlier today, are supportive for the single currency, however clearance of 1.2784 and 1.2810/20 barriers is required to resume near-term recovery off 1.2665, today’s fresh 16-month low. Hourly MACD is attempting through the midline, with 20 day SMA underpinning. Wider picture’s outlook, however, remains firmly bearish, while below 1.3100, with focus at 1.2665 as initial support, ahead of more important 1.2600/1.2586, Fibonacci level / 22 Aug 2010 low.

Res: 1.2784, 1.2811, 1.2820, 1.2857
Sup: 1.2724, 1.2700, 1.2684, 1.2665





GBP/USD

Remains in a near-term corrective mode off today’s low at 1.5374, with Fibonacci 38.2% and 50% at 1.5485 and 1.5520, now in focus. Hourly studies are in positive field, but overbought conditions suggest corrective pullback, before fresh push higher. Clearance of 1.5520/60 zone is required to confirm temporary bottom and open way for stronger recovery. Corrective dips should be contained above 1.5420/00, hourly 20 day SMA / intraday low, to maintain near-term positive tone. Loss of key supports, also range floor at 1.5374/60, would weaken the structure and expose key level at 1.5271, 2011 low.

Res: 1.5469, 1.5475, 1.5500, 1.5520
Sup: 1.5420, 1.5400, 1.5374, 1.5360





USD/JPY

The pair remains under pressure, as the latest recovery attempt from 76.59, 04 Jan low, just ahead of key support at 76.55, was capped by daily 90 day SMA at 77.32 and subsequent reversal extended below 77.00 mark. Dips have so far been contained at 76.70 zone, keeping 76.55 support intact for now. However, hourly and 4-hour studies are still negative and only firm break above 77.00 mark would ease bear pressure, with clearance of 77.32/40 required to confirm. Loss of 76.55 risks further weakness at test of 76.10/00, initially.

Res: 77.00, 77.32, 77.40, 77.60
Sup: 76.76, 76.59, 76.55, 76.10





USD/CHF

Corrective dip off today’s fresh high at 0.9593 was contained by 4H 20 day SMA at 0.9489. Fresh gains above 0.9500, look for retest of 0.9593, clearance of which is required to resume broader uptrend and expose 0.9700 next. Otherwise, further consolidation would be likely, with bulls in play while 0.9400 holds the downside.

Res: 0.9543, 0.9564, 0.9577, 0.9593
Sup: 0.9485, 0.9468, 0.9413, 0.9400