EURUSD
Fresh strength emerged from 1.4615, 20 Feb correction low, pushing through 1.4757, 19 Feb previous high, to reach 1.4838 on 21 Feb and 1.4861/62 peaks, on 22 Feb, ahead of consolidation. Immediate risk is seen of correction lower, to leave a higher low, before thrust through 1.4862/1.4916, for final attempt at 1.4953, 01 Feb peak. Downside, 1.4758/30 should contain dips, while loss of 1.4703, 21 Feb higher low, will delay.
Res: 1.4862, 1.4878, 1.4916, 1.4953
Sup: 1.4790, 1.4757, 1.4729, 1.4703
GBPUSD
Continues to move higher after rally from 1.9361, 20 Feb low, reached 1.9707 on 22 Feb, with subsequent correction dipping to 1.9614 today. Fresh strength is underway and clearance of 1.9707 (1.9699 reached so far) is needed to resume gains towards 1.9721, then to 1.9737, to fully retrace 1.9737/1.9361 downleg. Corrective dips should be limited by 1.9614/08, to maintain immediate bulls, while potential break lower would signal stronger correction.
Res: 1.9707, 1.9721, 1.9737, 1.9757
Sup: 1.9621, 1.9608, 1.9584, 1.9548
USDJPY
Reversal off 108.60, 14 Feb high, has left a lower top at 108.32, ahead of deeper correction to 106.73 on 22 Feb. Renewed strength from there has cleared 107.57 resistance to test 107.90/108.00 area, ahead of pullback to 107.58. Bounce of the latter is now retesting 108.00 zone, break of which is required to resume recovery towards 108.36, possibly 108.60 on a break. Upside rejection at 108.00 risks 107.58/23 instead.
Res: 108.16, 108.36, 108.60, 108.94
Sup: 107.57, 107.43, 107.23, 106.99
USDCHF
Continues to descend after gains from 1.0728, all-time low were capped by 1.1106 on 13 Feb, with series of lower tops off there bringing bears into control. Break below 1.0865, 21 Feb low, has triggered fresh losses to 1.0835 on 22 Feb, retracing over 61.8% of 1.0728/1.1106 upleg, ahead of correction higher. Market reached 1.0928 today, ahead of dip to 1.0860. Fresh strength is now underway, with clearance of 1.0928 required to confirm a higher low for stronger recovery. Otherwise, leaving a higher low ahead of fresh weakness would be likely scenario.
Res: 1.0884, 1.0916, 1.0934, 1.0961
Sup: 1.0860, 1.0835, 1.0758, 1.0728