EurUsd EUR/USD's dip in early European session suggests that recent decline might be resuming. Break of 1.2824 low will confirm that fall from 1.4719 has resumed. As discussed before, consolidation from 1.2329 has possibly completed at 1.4719 already. Current decline from 1.4719 is expected to extend to retest 1.2329 low on resumption. On the upside, above 1.3085 minor resistance will bring more consolidation, but short term outlook will remain bearish as long as 1.3385 resistance holds.

GbpUsd GBP/USD remains bounded in tight range above 1.3621 after recent decline stalled at key support of 1.3680 long term support (50% projection of 1.8668 to 1.4557 from 1.5722 at 1.3667). With an intraday low in place, some more recover could be seen and above 1.4052 will bring stronger rebound. Though, firstly, outlook won't turn bullish before a break of 1.4469 resistance. However, considering the importance of 1.3680 long term support, outlook will remain neutral only until breakout on either side.

UsdJpy USD/JPY continues to engage in choppy sideway trading today and still, intraday bias remains on the downside as long as 89.56 minor resistance holds. Retest of 87.13 low should be seen and break will will indicate that fall from 94.16 has resumed to next medium term target of 82.3. On the upside, though, above 89.56 will be the first alert that whole decline from 94.61 has completed. Further break of 91.29 resistance will confirm this case and bring stronger rebound.

UsdChf USD/CHF strengthens again today and further rally is still expected as long as 1.1380 minor support holds. Sustained trading above 61.8% retracement of 1.2296 to 1.0366 at 1.1559 will path the way to retest 1.2248 resistance first. Further break of 1.1111 support will indicate that rebound from 1.0366 has completed and turn short term outlook bearish for retesting this low.