EurUsd Rebounded on yesterday 1.4366 low for a clear return over 1.4500 pivot point. Current trading range is set 1.4366 â€“ 1.4922. Market traded as high as 1.4922 last week, in sight of 1.4967 resistance November high. Further strength might open the door up to 1.5000 key level. Yesterday 1.4366 low marks support. With 1.4500 as major pivot level, market might look down for 1.4280 next support after trendline support holding 1.4311 December low.
GbpUsd remains weak having dropped yesterday down to 1.9337 before recovering up to 1.9604. Further downtrend pressure might open the door toward 1.9105 (50% retracement of 1.7049 â€“ 2.1162 advance). Longs will only lock within a return over 1.9800 short term Trendline and 2.0000 key level ahead 2.0100 resistance. Initial supports hold 1.9483 11th January low and 1.9337 yesterday low.
UsdJpy remains weak having tested 105.63 Monday low. In recent downtrend, pressure opened the way toward 106 support. Initial support holds 105.92 last week low ahead of 104.20 trendline support. Strong resistance holds 110.10 last week double top ahead of 111.92 early January high.
UsdChf Even with yesterday sharp drop below 1.1000, with 1.0970 at close, January downtrend seems to come to an end rebounding from 1.0838 last week low. Market might look for 1.1130 (38.2% of 1.1603 â€“ 1.0838 decline). But further weakness below 1.1019 will reopen the way down to 1.0759 trendline low. Initial resistance holds 1.1123 yesterday high. Early January double top 1.1191 marks strong resistance.