EurUsd Rebounded last week on 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 two weeks ago, in sight of 1.4967 resistance November high. Further strength might open the door up to 1.5000 key level. Last week 1.4366 low marks support. Lower than 1.4500 pivot level, market might look down for 1.4280 next support after trendline support holding 1.4311 December low.
GbpUsd might have exit the downtrend started mid-November. It broke up Trendline resistance 1.9793 last. Confirmation will only lock within a return 2.0000 key level before 2.0100 resistance. Meanwhile, renewed downtrend pressure below 1.9800 might open the door toward 1.9105 (50% retracement of 1.7049 â€“ 2.1162 advance). Initial supports hold 1.9483 11th January low and 1.9337 22nd January low.
UsdJpy remains weak having tested 104.97 low 23rd January. In recent downtrend, pressure opened the way toward 106 support. Initial support holds 104.97 ahead of 104.20 trendline support. Initial resistance holds 107.89 Friday high. Strong resistance holds 110.10 previous week double top ahead of 111.92 early January high.
UsdChf dropped yesterday down to 1.0812 new low. Further weakness will reopen the way down to 1.0759 trendline low. Initial resistance holds 1.1123 last week high. Market might look for 1.1130 (38.2% of 1.1603 â€“ 1.0838 decline). Early January double top 1.1191 marks strong resistance.