EUR/USD

Remains in a near-term consolidative mode after bounce from 1.3500, fresh 7-month low, was capped at 1.3680/90 zone, also Fib 23.6% of 1.4278/1.3500 decline. Dips were contained just above 1.3555 initial support, keeping the pair in a narrow directionless trade. Short-term bears, however, remain intact, as the latest upside attempt is seen corrective, before fresh phase lower. Below 1.3500 to open 1.3427. On the upside, clearance of 1.3690/1.3700 and 1.3725, 20 day MA, is required to trigger stronger correction and expose 1.3800 next.

Res: 1.3680, 1.3700, 1.3725, 1.3787
Sup: 1.3623, 1.3600, 1.3555, 1.3500




GBP/USD

Overnight’s corrective attempt from 1.5772 was limited under initial barriers at 1.5885/1.5900, with subsequent weakness briefly exceeding 1.5772, to post marginal fresh low at 1.5761. Near-term studies are starting to point higher, with clearance of 1.5885/1.5920 resistance zone, required to spark stronger recovery and open way for test of 1.6000 next. Wider picture’s outlook, however, remains bearish.

Res: 1.5850, 1.5868, 1.5885, 1.5900
Sup: 1.5793, 1.5774, 1.5761, 1.5750




USD/JPY

Failed to maintain recent positive sentiment, with upside rejection at 77.85, just above previous high at 77.70, triggering strong reversal. Loss of initial support at 77.00 may signal return to the previous range, as the latest push higher failed at 77.40. However, break below 76.40 initial support would risk test of 76.00, below which would turn the tone bearish.

Res: 77.09, 77.24, 77.40, 77.61
Sup: 76.74, 76.40, 76.30, 76.00




USD/CHF

Consolidates the latest rally through 200 day MA that resulted in test of main bear trendline off 1.0067, at 0.8924. Subsequent correction is currently entrenched within 0.8785/0.8888 range, with almost flat near-term studies and 20 day MA still underpinning. However, loss of the near-term range at 0.8785 would allow for stronger pullback and expose 0.8700 zone. On the upside, clearance of 0.8880 barrier is required to turn focus higher and expose key barrier at 0.8924.

Res : 0.8835, 0.8879, 0.8910, 0.8924
Sup: 0.8785, 0.8750, 0.8700, 0.8666