EurUsd Sell off in equities and commodities continue trigger risk reduction in the pair. Indicators continue to painting a bearish picture and we suspect further downside. The aggressive price action is making short work of support levels. The next support stands at 1.3363 (intraday low), 1.3252 (18th Jan low) then 1.3055 (23rd Dec 10 low). Resistance is located at 1.3583 (intraday high), 1.3601 (22nd Sept high), lots of room till 1.3797 (21th Sept high), 1.3937 (15th Sept high), not much till 1.4278 (6th Sept reaction high).

GbpUsd Decent reversal of 1.5328 (22nd Sept low) but with bearish signals across timeframes this pair retains a heavy negative outlook. Initial support is located at 1.5328, then 1.5297 (7th Sept 10 low) and after that, lots of space. Not much on the topside with 1.5516 (intraday high) providing first resistance, then 1.5633 (19th Sept low) and 1.5747 (21st Sept high).

UsdJpy Rallies continue to failed gain momentum and quickly reverted to trend lows. Given our positive view on safe-haven trades (and lack of freedom from CHF and noise from the MoF) we continue to expected downside pressure. Support will come into play at 76.12 (21st Sept low), then 75.95 (all time low). On the topside initial resistance is located at 76.97 (intraday high), 78.17 (27th July high) then 78.58 (daily cloud base).

UsdChf Safety in USD is trumping all other perceived safe-haven trades and with the SNB standing unyielding (although untested) flows normally sent to CHF are now heading stateside. Scramble to cover shorts pushed the pair up to 0.9183 on Thursday but we have seen consolidation since then. Initial resistance is located at 0.9183 (22nd Sept high), 0.9296 (6th April high) then 0.9340 (1st April high). Support stands at 0.9000 (psychological lvl), 0.8928 (12th Sept high) then 0.8647 (15th Sept low).