http://forexnews.varolmak.com

EurUsd Convergence towards the 1.2900 pivot sees the pair’s broad moves lead to a potential breakout opportunity. Downward channel slows, initial focus for a support level points to 1.2927, opening the doors for 1.2835 – strong support at 1.2814. Resistance on the upside sits on 1.2983 – with a strong resistance in the 1.3075 – 1.3093.

GbpUsd The cable is testing new lows for the week. We see initial support at 1.4395 (today’s lows) then 1.4365 (Feb 5th lows) – further down 1.4052 (Feb 2 low). On the upside 1.4535 stands as a soft resistance (23.60% retracement on 1.4988 – 1.4395 move).

UsdJpy The pair is trading at its lows, focus on 89.75 (breakout move). 88.58 as a strong support – a level tested several times in recent weeks. On the upside 90.58 holds, then momentum could heads towards 91.13.

UsdChf Pair tested 38.20% retracement on 1.1718 – 1.1509 move several times before continuing to decline as inflation risk recedes 1.1509 stands as strong support, opening the doors for 1.1412. Upside sees 1.1738 then 1.1781.

http://forexnews.varolmak.com