Technicals

EurUsd Last week strong pressure hit strong support 1.3666 December 2004 high and broke below 1.3500. Market strongly rebounded this morning over 1.3600. Initial resistance holds 1.3666 former support. On the upside, only a return over 1.4000 and 1.5000 will release actual pressure and may put key initial resistance 1.6000 into focus. Still a break up there would open the way to Trendline resistance 1.6200. Initial resistance holds 1.4002 former trendline support. On the downside, renewed weakness will focus on 1.3056 support (retracement of 0.8231 1.6039 advance). Initial support holds 1.3259 Friday low.

GbpUsd Last week market dropped as low as 1.6786, now initial support. Further downtrend may look for 1.6568 November 2003 low and 61.8% retracement of 1.36822.1161 advances). Next supports are 1.4560 trendline and 1.3682 March 2001 low. On the upside, initial resistance holds 1.7422 former support. Strong support holds 1.7697 last week high ahead of 1.8304 former support.

UsdJpy Downtrend is set since beginning of September and hit 97.91 low Friday. Further pressure may open the way to 95.75 17th March low. Current weak trend will stand below 100 pivot point. On the further upside, recovery over 105 pivot point will put focus again on 108 and 110.67 15th August high. Initial resistance holds 101.45 former support.

UsdChf Market posted 1.1489 high last Monday. Further advance may open the way to 1.1596 December high and strong resistance. Initial support holds 1.1129 Friday low. On the downside, only weakness below 1.0692, 22nd September low, would give direction and open the way down to 1.0500 and 1.0375. Such a move may look for 1.0013 15th July low in front of 0.9637 17th March low.

Resistance and Support: