EurUsd Fridays risk rally attracted enough interest to push the pair past initial resistance at 1.3834 (12th Oct high) and puts the focus on 1.3937 (15th Sept high) then not much till 1.4278 (6th Sept reaction high). Support is located at 1.3827 (intraday low), 1.3685 (13th Oct low), 1.3566 (11th Oct low), 1.3525 (7th Oct high) then 1.3346 (10th Oct low).
GbpUsd Our call for a return to 1.5800 seems to have been heard as the cable continues to grind higher giving the pair a firm bullish tone. The break of key resistance at 1.5785 /98 (12th & 13th Oct high) should opened the way towards 1.5907 (12th Sept high), then 1.6000 (psychological resistance). Initial support is located at 1.5668 (10th Oct high), 1.5333 (23rd Sept low), then 1.5297 (7th Sept 10 low) and after that, lots of space.
UsdJpy Buzz over proposed government action and stronger US data has given this pair some life. Rumors making the round has generated two decent spikes on Friday and today (77.45 high). However, given our positive view on safe-haven trades (and lack of freedom from CHF) and lack of details on the government plan, we continue to expect to eventually revert to 76.12 to 77.49 range. Support will come into play at 76.99 (daily cloud base), 76.31 (12th Oct low), then 75.95 (all time low). On the topside initial resistance is located at 77.86 (9th Sept high & short term range ceiling), then 78.81 (Daily cloud top).
UsdChf With fears in Europe waning we are seeing EURUSD shorts unwinding and the steady USD selling in EUR has caused the USDCHF to take on a bearish tone. Sharp drop in Asia broke support at 0.8919 (12th Oct low & 29th Sept high) opening a broader move to 0.8647 (15th Sept low). On the topside 0.9086 (30th Sept high), 0.9147 (4th Oct low) then 0.9316 (6th Oct high) should provide temporary resistance.