EUR/USD

Recovery off 1.2586, 24 Aug low, unfolds a bearish wedge pattern, with 1.2791/31 expected to cap. Downside break below 1.2675/65 will bring bears back in play and expose 1.2608/1.2586 next. Break above 1.2831, however, will signal further recovery exposing 1.2900 zone.

Res: 1.2778, 1.2791, 1.2831, 1.2880
Sup: 1.2665, 1.2651, 1.2608, 1.2586





GBP/USD

Remains within a corrective phase off 1.5371, with further strength looking to test 1.5610, 38.2% retracement of the 1.5997/1.5371 fall. Potential break higher will open 1.5672/89 next, otherwise, return to 1.5441/1.5371 would be likely scenario.

Res: 1.5573, 1.5596, 1.5610, 1.5617
Sup: 1.5497, 1.5465, 1.5441, 1.5400





USD/JPY

Today’s upside failure at 85.89 was followed by sharp reversal, to retrace nearly 61.8% of the latest 83.58/85.89 upleg, reaching 84.54 so far. Loss of 84.46, 38.2% and 84.26, last Friday’s low, would extend weakness towards 83.58, yearly low. Only regain of 85.19 would delay bears and possibly open 85.89 for retest.

Res: 85.19, 85.46, 85.89, 86.24
Sup: 84.46, 84.37, 84.26, 84.04





USD/CHF

Immediate downside risk hinges on 1.0335, 25 Aug lower high, as down-swings from 1.0625, 12 Aug high, extend. Break below 1.0220 low exposes risk towards this year's low at 1.0130 amid positive divergent daily studies.

Res: 1.0305, 1.0325, 1.0335, 1.0380
Sup: 1.0236, 1.0220, 1.0182, 1.0130