EUR/USD
Maintains short-term negative tone after today’s opening nearly 100 pips below last Friday’s close extended losses to hit fresh 7-month low at 1.3500. Corrective bounce exceeded initial resistance at 1.3625 zone, but stalled on approach at 1.3700/25 resistance zone, with break below 1.3600, 20 day MA, to open way towards 1.3500. Wider picture remains bearish and loss of 1.3500 handle to expose 1.3427 next.

Res: 1.3678, 1.3700, 1.3725, 1.3787
Sup: 1.3600, 1.3590, 1.3533, 1.3500





GBP/USD

Near-term corrective attempt off today’s fresh two-month low at 1.5791, ran out of steam on approach at 1.5900, strong resistance zone, with subsequent sell-off under way. Break below hourly 20 day MA turns focus at 1.5791, below which to open key support at 1.5779, as short-term structure remains bearish, with break here to signal fresh bear phase and initially focus 1.5750/00 zone.

Res: 1.5885, 1.5900, 1.5950, 1.6000
Sup: 1.5800, 1.5791, 1.5779, 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, however, break below 76.40 initial support would risk test of 76.00, below which would turn the tone bearish.

Res: 77.09, 77.61, 77.71, 77.85
Sup: 76.74, 76.40, 76.00, 75.93





USD/CHF

Confirms the short-term bullish structure after today’s higher open and the recent break above 200 day MA, to test main bear- trendline at 0.8924, also Fib 61.8% of 1.0064/0.7067 descend.. Break here to open way for test of the next important barrier at 0.8944, 13 May high. Near-term studies remain bullish, however, corrective pullback on overbought conditions has so far tested initial support at 0.8800. Further easing into 0.8770/00 zone is not ruled out, before bulls re-assert for fresh leg higher.

Res : 0.8851, 0.8862, 0.8910, 0.8926
Sup: 0.8800, 0.8773, 0.8750, 0.8700