EurUsd Market traded as high as 1.4720 in December but reversed most of its gain below 1.4000 early this week. Uptrend remains and may open the way to 1.4867 23rd October high. A return over 1.5000 will clear the last 3-month pressure and may put key resistance 1.6000 into focus. Initial resistance holds 1.4363 last week high. On the downside, 1.3600, former resistances, hold supports. Further support holds 1.2208 trendline support. Next long-term support holds 1.1640 November 2005 low and therefore 1.0739 September 2003 low.
GbpUsd Market reversed most of Cable gains from mid-December and traded below 1.5000. On the downside, strong supports hold 1.4471 December low ahead of 1.3682 March 2001 low. Initial support holds 1.4354 31st December low. Sentiment remains mixed but renewed strength may open the way to 1.6075 (38.2% retracement of 1.8669 – 1.4471 decline) and even 1.6570 (50% retracement). Uptrend may look for 1.6673 30th October high strong resistance. Further resistance holds 1.7816 (50% retracement of 2.1161-1.4471 decline).
UsdJpy UsdJpy broke up the 4-month downtrend upper trendline and hit 93.59 high yesterday. On the upside, strong resistance holds 100 pivot point, but only a recovery over 103 upper trendline and 105 pivot point will put focus again on 108 and 110.67 15th August high. Initial resistance holds 97.43 24th November high. Strong support holds 87.14 17th December low. Renewed downtrend may open 79.70 April 1995 low.
UsdChf Market traded as low as 1.0373 on 29th December in last months downtrend and recovered up to 1.1125 yesterday. Uptrend may open the way through 1.1200 and possible trend up to 1.2298, 21st November high. Over it, 1.2463 holds strong resistance ahead of 1.2506 (61.8% retracement of 1.4278 – 0.9639 decline). Renewed weakness may return to 1.0500 and 1.0375. Such a move may look for 1.0013 15th July low in front of 0.9637 17th March low.