EUR/USD
Steadied at the 1.0658 low though break of the 1.0700 level see risk for deeper pullback to retrace the 4-wk upleg from 1.0341 low. Lower will see scope to the 1.0620/1.0580 area. Upside seen limited with resistance now at the 1.0711/19 area then the 1.0775 high. [PL]
USD/CHF
Steady in range above the .9960 low though consolidation tracing out a flag pattern and see risk for break lower to trigger further decline to the .9929/00 area then the 200-day MA at .9870. Recent lows at 1.0045 and the 1.0064/87 area now resistance. Would need lift over the latter to fade downside pressure. [PL]
USD/JPY
Extending recovery from the 102.53 low to reach the 115.00 level, lift over this will see further strength to target the 115.62 high of last week. Above the latter will confirm a double bottom at the 112.57/53 lows and trigger stronger recovery to the 116.00 level. Support now at 113.99 then 113.00 level. [PL]
EUR/CHF
Saw sharp drop through the 1.0700 level to take out the 1.0680 low before finding traction at 1.0670 low. Risk now seen for retest of the 1.0624 low of last year to extend the broader decline from 1.0900, Dec high. Resistance now at the 1.0700 level then the 1.0751/62 highs. [PL]
GBP/USD
Spurred by the appearance of a Spinning-top last session, intraday trade a touch softer in consolidation and only deeper break of 1.2490 support to turn current upmove around. Lift above yesterday’s high of 1.2673 will see 1.2775 hurdle targeted. [W.T]
EUR/GBP
Follow-through below the .8500 level extending the drop from the .8854 high and see strong support at .8450 now within reach. Below this will see the 200-day MA coming into play at .8409. Failure here will return focus to the .8333 and .8305, Dec lows. [PL]
