EurUsd Market traded as high as 1.4720 in December but reversed most of its gain down to 1.3313 low on Tuesday. Renewed strength may look for 1.4867 23rd October high. A return over 1.5000 will clear the last 3-month pressure and may put key resistance 1.6000 into focus. Initial resistance holds 1.4363 last week high. On the downside, 1.3313, Tuesday low, hold supports. Further support holds 1.2208 trendline support. Next long-term support holds 1.1640 November 2005 low and therefore 1.0739 September 2003 low.
GbpUsd Market reversed most of Cable gains from mid-December and traded below 1.5000. On the downside, strong supports hold 1.4471 December low ahead of 1.3682 March 2001 low. Further support holds 1.4354 31st December low. Sentiment remains mixed but renewed strength may open the way to 1.6075 (38.2% retracement of 1.8669 – 1.4471 decline) and even 1.6570 (50% retracement). Uptrend may look for 1.6673 30th October high strong resistance. Further resistance holds 1.7816 (50% retracement of 2.1161-1.4471 decline). Initial resistance hold 1.5724 17th December high.
UsdJpy UsdJpy broke out the 4-month downtrend upper trendline and hit 94.64 high on Tuesday. Initial resistance holds 96.13 (38.2% retracement of 110.67 – 87.14 decline). On the upside, strong resistance holds 100 pivot point, but only a recovery over 103 upper trendline and 105 pivot point will put focus again on 108 and 110.67 15th August high. Strong resistance holds 97.43 24th November high. Strong support holds 87.14 17th December low. Renewed downtrend may open 79.70 April 1995 low.
UsdChf Market traded as low as 1.0373 on 29th December in last months downtrend and recovered up to 1.1279 on Tuesday. Uptrend may open the way through 1.1282 former support and possible trend up to 1.2298, 21st November high. Over it, 1.2463 holds strong resistance ahead of 1.2506 (61.8% retracement of 1.4278 – 0.9639 decline). Renewed weakness may break down 1.0655 (61.8% retracement of 0.9639 – 1.2298 advance) and return toward 1.0500 and 1.0375. Such a move may look for 1.0013 15th July low in front of 0.9637 17th March low.