EurUsd In recent positive trend, it yesterday broke up 1.4825 resistance (January range 1.4578-1.4825). Market traded as high as 1.4915, in sight of 1.4967 resistance November high. Further strength might open the door up to 1.5000 key level. Thursday 1.4640 low marks support. Below that, 1.4570 minor support holds the door before further drop to 1.4500 and 1.4280. Initial support holds 1.4783 yesterday low.
GbpUsd remains weak having broken 1.9590 support (38.2% retracement of 2 years 1.7049 â€“ 2.1161 advance) and tested level below 1.9500. Further downtrend pressure might open the door toward 1.9105 (50% retracement). Longs will only lock within a return over 2.0000 key level and 2.0100 resistance. Initial support holds 1.9483 Friday low.
UsdJpy remains weak below 109.76 and might head towards 107.25 low of November 26, 2007. In recent downtrend, pressure opened the way to 107.50 key support. Strong resistance holds 110.10 last week double top ahead of 111.92 early January high. Initial support holds 107.22 November 26th low.
UsdChf Downtrend remains strong and tested last November 1.0888 key level. Further weakness will open the way down to 107.59 trendline low.
Initial resistance holds 1.1012 yesterday high. Early January double top 1.1191 marks strong resistance.