EurUsd is moving back up after hitting the lower trend line of itâ€™s upward channel on December 6th. Although is has recently slipped from reaching the 50% retracement level of the recent down move, our target for now is 1.4770.
GbpUsd support holds strong at 2.0150 with a target and resistance at 2.0660. The current upward trend shows enough momentum for that move up.
UsdJpy is on a bounce after hitting a 12-year trend line support at 107.22. Should we break below this level again, this would be extremely bearish. Resistance at 112.20 and 114.75 holds firm.
UsdChf has crossed above itâ€™s daily 22-day moving average and finding support above 1.1180. Two daily closes below this level would confirm continuation of the downward trend. On the upside, nothing lies in the way until 1.1630.