EURUSD
After night falls the market rebounded from Friday’s lows 1.0859 and support. Subsequent increases overcame local resistance at 1.0882, which is now being re-tested as support. The rejection of this level would be a signal for the continuation of growth in the area of downtrend line or further to 1.0960.
USDJPY
After Friday’s rejection of an earlier downtrend line and support at 103.62, market continues to rise. Today we overcame the Friday highs and resistance at 104.16. If in the near future this breakout will not be negated then we can expect the continuation of gains at least in the vicinity of 104.47 level or even further to 104.57.
If we look at the daily chart we see that the breakout of the current resistance area could pave the way for further growth even in the vicinity of the level of 107.30.
AUDUSD
After a morning rally pair reached a very important resistance around 0.7643 coinciding with the level of 38.2% Fibonacci correction of the ongoing declines since Thursday. The rejection of the zone caused declines that are slowly approaching the vicinity of Friday’s lows. Overcoming this level could open the way for further declines, even in the area of support 0.7518.
USDCHF
After a strong and dynamic rally from last week due to Thursday’s meeting of the ECB and Mario Draghi comments on the QE program, which brokeout from lasting for eight days consolidation on Friday market definitely slowed. The current movement could be described as downward correction. Currently we are re-testing support around 0.9913 which was defeated on Thursday and located in its neighbourhood – level of 38.2% Fibonacci correction. The rejection of this zone could be a signal for continuation of growth. However, if the decline will continue we can expect the emergence of a strong demand reaction around the uptrend line.
