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USD/CHF's volatility is lower. The pair lies in a short-term bullish momentum. Yet, the technical structure indicates further downside risks. The pair has failed to hold consistently above the parity.

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours nonetheless a long term bullish bias since the unpeg in January 2015.

USD/JPY keeps on pushing higher. The pair has strongly bounced back. Hourly resistance is given at 112.70 (30/11/2017 high).

We favor a long-term bearish bias. Support is now given at 99.02 (10/08/2013 low). A gradual rise towards the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 93.79 (13/06/2013 low).

GBP/USD is bouncing back. The technical structure indicates an extension of bullish momentum. Support is given at a distance at 1.3320 (07/12/2017 low). Expected to show continued decline towards 1.3300.

The long-term technical pattern is reversing. The Brexit vote had paved the way for further decline. Long-term support can be found at 1.1841 (07/10/2017 low). Long-term resistance given around 1.35 is at stake and indicates a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.

EUR/USD's bearish momentum is very strong. Hourly resistance is given at 1.1961 (27/11/2017 high). Hourly support given at 1.1714 (21/11/2017 low). Expected to show continued decline.

In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).

The Loonie appreciated against the US Dollar to touch the intraday high, following the Ivey PMI report on Thursday. The USD/CAD exchange rate rose 12 base points or 0.09% to bounce back to the pre-data level, though managed to finish the session nearing the 1.2860 level.

The purchasing activity in Canada was slightly weaker in November, due to lingering decrease in supplier deliveries, despite the employment growth. The Richard Ivey School of Business' report showed that its seasonally adjusted PMI index fell to 63.0 from 63.8 registered in October. Meanwhile, the employment gauge increased to 53.9 points, foreseeing the jobless rate to the nine-year low and indicating further improvements in the country's labour market.

The Sterling was little changed against the Greenback, following the UK housing price growth data from Halifax. GBP/USD was in a side move early Thursday, though the pair gained 54 base points or 0.40% to the 1.348 mark, as a reaction on the Irish official saying that Britain and Ireland were very close to cut the deal.

Halifax report showed that the UK house prices increased more than anticipated 0.5% in November, while the yearly pace of growth slowed to 3.9% from 4.5% in the prior month. Ahead of the Theresa May’s meeting with the European Council President and the European Commission Presidents to make a final decision on the Irish border issue, Britain’s manufacturing and industrial production data will be in focus.

USD/MXN has been trading in a neat channel up for the last five months. The pair bounced off the bottom boundary of this medium-term pattern on November 29 and has since initiated a new wave up. It is likely that the pair respects the current channel and thus continues appreciating during the following two weeks up to the 19.40 area. In the meantime, the US Dollar has been testing a junior channel for a couple of hours. Its failure to surpass the 18.67 area suggests that the rate could egde lower in this session. The nearest resistance is set by the weekly R2 and the 55-hour SMA circa 18.87, while a more probable downside target is the 18.80 area where the 100-hour SMA and the weekly R1 are located.

The Canadian Dollar has been trading in a channel down against the Swiss Franc since early September. The pair tested the bottom boundary of this pattern on November 30 prior to making a rebound from a long-term channel circa 0.78—a pattern which was breached two weeks ago. The pair has made a minor correction north during the previous trading session. However, the combined resistance of the weekly R1, the 55– and 100-hour SMAs at 0.7760 is expected to reverse the Loonie back south. The current positioning of the rate suggests that it should depreciate within the following two weeks just to test the medium-term channel in the 0.7600/20 territory. In case bulls prevail, the subsequent upward surge is unlikely to be significant.

In result of the previous trading session the currency exchange rate has expectedly reached the 38.2% Fibonacci retracement level located at 1.1760. As the pair is also moving in a junior falling wedge formation, a breakout in northern direction is expected to happen. This projection is additionally supported by the fact that the above retracement level coincides with the bottom boundary of a larger descending channel. If the breakout happens, the surge is likely to last until the currency rate will reach the 55-hour SMA or the monthly PP at 1.1807. However, a release of better than expected US employment data might alter this scenario and push the rate straight to alleged support zone located between the 1.1730 and 1.1720 marks.

During previous trading session the pair initially slipped to support line located at the 1.3338 mark but then suddenly resumed the surge and ended the day at the 50% Fibonacci retracement level. The drop was based on reports about the action made by Congress aimed to avoid government shutdown, while the surge reflected progress made on the Irish border deal. As Theresa May heads to Brussels to resume the talks, the Pound is expected to continue appreciating against the Dollar, trying to reach the 1.3550 mark. However, this upward movement might be quickly stopped in case of disappointing news coming from Belgium’s capital. If this negative scenario materializes a combination of the 55-, 100- and 200-hour SMAs together with the weekly PP are unlikely to keep the bearish pressure.