EUR/USD

The Euro remains in two-day 1.3300/1.3400 range, with near-term structure showing bears still holding control. Studies on 4h chart are in the negative territory and descending 20 day EMA limits the upside. Basing attempt at 1.3300 is evident, as Friday’s Doji signals indecision, however, prevailing negative tone, keeps the downside pressured. With 1.3300 offering initial support, series of strong supports lie just below here, with trendline (1.2660/1.2996) at 1.3285 and 1.3265, January’s higher platform. Break here is required to confirm reversal and open way towards 1.3185/70 breakpoint. On the upside, break above 1.3400, would provide relief, while only regain of 1.3500 zone, 50% of 1.3710/1.3305 would shift near-term focus higher.

Res: 1.3357, 1.3374, 1.3392, 1.3411
Sup: 1.3324, 1.3305, 1.3285, 1.3265






GBP/USD

Cable remains under pressure, as price slides below 1.5500 again, following brief recovery to 1.5550, seen last Friday. Overnight’s gap-lower opening, along with negative near-term studies, keeps near-term focus at the downside, with break below Friday’s low at 1.5459, to open 1.5400 zone initially, for possible extension towards key supports at 1.5267/33, 2012 lows, seen as likely near-term scenario. Overextended 4h chart conditions, however, may delay bears, with corrective rallies seen capped at 1.5550/70 zone, Fib 38.2% / 50% of 1.5688/1.5459 descend. Only break above 1.5600, Fib 61.8%, would avert immediate downside risk and signal near-term basing attempt, confirmation of which requires regain of 1.5700 handle.

Res: 1.5497, 1.5550, 1.5571, 1.5600
Sup: 1.5459, 1.5392, 1.5320, 1.5267






USD/JPY

The pair regained strength, as near-term range floor and base at 92.00 zone, proved to be good support. Fresh rally and weekly gap-higher opening, along with break above psychological 94.00 barrier, see scope for retest of recent highs and near-term range top at 94.40/45, for resumption of broader uptrend towards the next target at 94.97, May 2010 high. Four-hour chart indicators emerged from the negative territory and see room for fresh bulls, however, gains may be delayed by overbought hourlies. Initial support lies at 93.80, 10 day EMA, ahead of session low at 93.64, where dips should be ideally contained, while only penetration of 93.20, Fib 61.8% of 92.21/94.21 and psychological 93.00 support, would sideline near-term bulls.

Res: 94.00, 94.21, 94.40, 94.45
Sup 93.83, 93.64, 93.45, 93.30





USD/CHF

The pair attempts higher to resume near-term recovery off 0.9020, after fresh strength breaks above last Thu/Fri consolidation top and Fib 61.8% of 0.9387/0.9020 descend. Next target lies at 0.9300, 76.4% retracement, above which to confirm base at 0.9020 and open next targets at 0.9381/87. With 4h 20 day EMA at 0.9220 holding the downside for now, any stronger reversal should stay above 0.9200 higher base, keep immediate bulls intact. Otherwise, break here would soften near-term tone and open 0.9150, 12/13 Feb lows.

Res: 0.9256, 0.9300, 0.9323, 0.9387
Sup: 0.9233, 0.9220, 0.9200, 0.9150