EUR/USD

Resumes near-term recovery off 1.3361, yesterday’s low, after gains were capped at initial resistance at 1.3565. Ground was found at 1.3480, today’s low, posted overnight, with fresh strength clearing 1.3565 and 1.3578, Fibonacci 50% of 1.3796/1.3361 descend, to briefly test 1.3600 barrier. Brief break above upper Bollinger band boosts the pair to resume correction and expose 1.3630, Fib 61.8% next. Near-term studies above their midline, support the advance, with initial support at 1.3565 and key level at 1.3480.

Res: 1.3630, 1.3700, 1.3720, 1.3796
Sup: 1.3565, 1.3500, 1.3478, 1.3425




GBP/USD

Sharp rally followed today’s upside rejection just under key near-term barrier at 1.5600, where subsequent dip was contained at 1.5525, our initial support and previous low. Rally through 1.5600 surged through Fib 76.4% at 1.5644, en-route to 1.5689, 21 Sep high. Near-term indicators support, however, overbought hourly conditions may interrupt gains by corrective pullback. On the downside, 1.5600, previous resistance, now offers initial support, ahead of key near-term support at 1.5525.

Res: 1.5689, 1.5700, 1.5750, 1.5780
Sup: 1.5600, 1.5569, 1.5525, 1.5500




USD/JPY

The pair continues to trade in a narrow range directionless mode, however the downside pressure exists while key 77.00 barrier remains intact. On the downside, 76.10, previous low, offers initial support, ahead key levels at 76.00/75.93, below which would be very bearish. Hourly studies are flat, hovering near their midlines.

Res: 76.57, 76.75, 76.96, 77.27
Sup: 76.37, 76.25, 76.10, 76.00





USD/CHF

Loss of key near-term support at 0.9000 that was containing reversals from 0.9180 and 0.9141 is now weakening the near-term tone and opens way for stronger correction. Initial target at 0.8926 comes under pressure, with broken bear-trendline, currently at 0.8880 and 200 day MA at 0.8804, seen on a break. Key short-term level lies at 0.8646, 15 Sep higher low.

Res: 0.9000, 0.9056, 0.9082, 0.9100
Sup: 0.8926, 0.8900, 0.8880, 0.8880