EUR/USD

Recovery attempt from 1.3332, yesterday’s low, stalled at 1.3454, en-route to 1.3485, with subsequent reversal accelerating decline on pessimistic news from Germany. The pair has so far erased over 76.4% of 1.3332/1.3454 rally, losing 1.3360 support, the last barrier before retest of 1.3332, near Fib 61.8% of 1.3211/1.3547 upleg, also triangle support. Break here to confirm lower top and extend near-term downtrend off 1.5777 high. Hourly studies favor further weakness, with figure support at 1.3300 to come on break below 1.3332. On the upside, 20 day SMA, now pointing lower, maintains the weakness, while 1.3443/54, bear-trendline / day’s high, cap for now.

Res: 1.3400, 1.3426, 1.3453, 1.3485
Sup: 1.3332, 1.3300, 1.3273, 1.3258





GBP/USD

Maintains near-term positive tone off 1.5560, yesterday’s low, as the pair breaks through 1.5640 congestion, to probe above bear-trendline off 1.5777 high. While downside remains protected at 1.5600 zone, today’s lows / triangle support, scope exists for fresh extension through trendline resistance and possible test of 1.5715/25, 05/02 Dec highs, as near-term studies are emerging out of the negative territory. Regain of levels above 1.5700 mark, would signal higher low at 1.5560, with regain 1.5777, required to confirm. On the downside, loss of 1.5600/1.5575, support band, would be bearish.

Res: 1.5669, 1.5700, 1.5715, 1.5725
Sup: 1.5640, 1.5600, 1.5576, 1.5560





USD/JPY

Near-term price action gets entrenched in a narrow range, moving in directionless mode. While 77.60/50 supports stay intact, there are hopes of fresh attempt towards 78.00/10, bear-trendline / 05 Dec high, as fresh momentum emerges on hourly chart. Clearance of initial barriers at 77.80, range ceiling / 20 day SMA, is required to open way for test of 78.00 zone. Loss of 77.50, Fibonacci support, however, would signal and extension of bear-leg from 78.10.

Res: 77.85, 78.00, 78.14, 78.27
Sup: 77.61, 77.50, 77.28, 77.00





USD/CHF

The near-term price action shows the pair well bid but hesitating under initial barrier at 0.9300, as repeated attempts higher failed at 0.9294/86. Hourly studies are above their midlines, keeping the near-term focus at 0.9300 and key barriers at 0.9313/28, with 0.9235/00 support band, expected to hold and keep immediate bulls intact.

Res: 0.9286, 0.9294, 0.9300, 0.9313
Sup: 0.9235, 0.9225, 0.9215, 0.9200