EUR/USD

The latest advance off 1.3280, 08 Apr low, has breached key 1.3591 resistance, to extend gains to 1.3691 overnight and retrace over 61.8% of the broader 1.3816/1.3266 decline. Scope is now seen for upside attempt towards 1.3735, with current pullback on overbought conditions to be contained by 1.3538/1.3496, to keep immediate bulls in play.

Res: 1.3691, 1.3735, 1.3788, 1.3816
Sup: 1.3604, 1.3592, 1.3538, 1.3496


GBP/USD

Recovery phase from 1.4780/1.4800 lows broke above key 1.5380 lower platform, to hit 1.5484 earlier this morning. Overbought hourly structure sees correction now under way, with 1.5380 offering immediate support, ahead of fresh push higher, as daily conditions remain supportive for continuation of the recent strength, focusing 1.5574 next. Below 1.5380, however, may risk deeper reversal.

Res: 1.5484, 1.5520, 1.5574, 1.5632
Sup: 1.5380, 1.5313, 1.5267, 1.5235


USD/JPY

Rally off 89.74, 18 Mar low, peaked at 94.77 on 05 Apr. A corrective phase followed and support was found at 92.83, near 38.2% retracement of the entire move. 92.77, today’s higher low now supports and clearance of 93.55/78 expected to resume near-term gains and open 94.25 next. Downside loss of 92.88/75 risks 92.26/11 instead.

Res: 93.55, 93.85, 94.03, 94.25
Sup: 92.88, 92.75, 92.45, 92.26


USD/CHF

Continues to fall sharply off last week’s failure at 1.0784, possibly completing recent 3-week expanded flat, ahead of retesting 200-day MA, currently at 1.0475, and lower towards 1.0435. Intraday falling gap left at 1.0626/55 weighs for now.

Res: 1.0625, 1.0655, 1.0686, 1.0713
Sup: 1.0525, 1.0510, 1.0475, 1.0435