EUR/USD

Returns to strength after correction off 1.4548 fresh high, found support at 1.4483, within our initial support zone. Fresh gains are looking for retest of today’s high, clearance of which to open 1.4576 next. Near-term structure remains positive while above 1.4483/65, while loss of the later would delay immediate bulls.

Res: 1.4550, 1.4576, 1.4600, 1.4651
Sup: 1.4500, 1.4465, 1.4425, 1.4400




GBP/USD

Extended rally from 1.6207 low to briefly test 1.6420/50 resistance zone, with 1.6434 seen so far, capped for now by 55 day MA. Focus is on trendline resistance at 1.6467, with break here to confirm higher low at 1.6207 and open way for test of 1.6532/70 next. Failure under 1.6465, however, would risk lower top and possible extension of near-term weakness.

Res: 1.6434, 1.6446, 1.6465, 1.6500
Sup: 1.6368, 1.6340, 1.6320, 1.6280




USD/JPY

Break above range ceiling at 77.00/20 was short-lived, as failure to sustain gains resulted in stall at 77.68 and subsequent reversal brought the pair back to the levels below 77.00, where near-term support was found at 76.90. Break above 77.00 is required to keep hopes of fresh recovery alive, with regain of 77.68/78.00 zone to confirm. Otherwise, extension of nearly two weeks sideways range trading would be the likely scenario.

Res: 76.97, 77.06, 77.26, 77.45
Sup: 76.56, 76.46, 76.30, 76.00





USD/CHF

Extends the short-term recovery from 70.67 historical low, after emerging out of two-week narrow range, breaking above trendline resistance at 0.8034, to hit fresh highs above 0.8100. Short-term studies favor further upside extension, as break above daily 55 day MA, looks for test of resistance at 0.8276, 19 July high. Initial supports lie at 0.8110/0.8073.

Res: 0.8200, 0.8246, 0.8276, 0.8330
Sup: 0.8155, 0.8110, 0.8073, 0.8013