Technicals

Baar, Switzerland - Euro

Outlook remains the same as yesterday as long as it stays below 1.5797 today. The up trust made last week is still there in the background of the chart creating weakness. In fact yesterday it moved below that interim rising support (1.5824) that held the first dip after the up trust was formed Tuesday last week. The break below 1.5824 opens for a test of the uptrend line going back to the Feb lows, coming in at 1.5582 today.

Support: 1.5600 (key level), 1.5582 (rising support), 1.5300 (key level)

Resistance: 1.5797 (yesterdays high), 1.5842 (former rising sup), 1.5965 (overhead res), 1.6038 (all time high), 1.6173 (upper channel resistance)

240 min Falling interim resistance at 1.5903 today.

Cable

Interim rising support coming in at 1.9832 today and key resistance level is that last weeks high at 2.0156. As long as that interim rising support holds the likelihood is that we get another test of that 2.0156 level, which is the gateway to a test of 2.0395 key level (2008 high). Have overhead channel resistance kicking in at 2.0263 today

Support: 1.9832 (interim rising support), 1.9802 (break out level), 1.9647 (July low), 1.9580 (23/6 low), 1.9428 (key rising support), 1.9337 (key Jan low), 1.9310

Resistance: 2.0156 (last weeks high), 2.0263 (channel resistance), 2.0395 (14/3 high)

120 min Risings support now at 1.9832 and top of channel is 2.0263.

USDCHF

From yesterday "As mentioned last Thursday, the likely rebound in the stock market was bad news for the CHF, which lead to increased risk appetite and selling of CHF. Took out that falling interim resistance at 1.0257 yesterday confirms bullish momentum and likely to test that overhead resistance at 1.0406 near term". Hit that overhead resistance this morning spot on and I expect a bounce off this level on the first test.

Support: 1.0247 (former falling res), 1.0000 (key level), 0.9940, 0.9884 (key support), 0.9647 (all time low)

Resistance: 1.0403 (overhead resistance), 1.0504 (former underlying sup), 1.0719 (January 08 low)

USDJPY

Could now test the key overhead resistance at 108.50 as long as the interim rising support at 107.26 holds.

Support: 107.26 (interim rising sup), 107.05 (200 day moving avg.), 106.83 (former overhead res), 104.15 (underlying support), 104.16 (100 day moving average) 102.56 (May low)