EUR/USD Declines, USD/CHF Soars

GBP/USD

SMA20 at 1.4315 has stopped the bearishness and the pair started to move towards 78.6% Fibonacci at 1.4360.

GBP/USD 4-Hour Chart

Stability above 1.4360 is required to be bullish, as RSI and ADX needs this break to be fixed again.

On the downside, coming below 1.4280 will be a signal of failure to inch higher.

Support: 1.4315 – 1.4285 – 1.4230

Resistance: 1.4360 – 1.4405 – 1.4460

Direction: Bullish attempt

EUR/USD

EUR/USD declined, stabilizing below SMA20 and below 88.6% Fibonacci at 1.1315.

EUR/USD Daily Chart

Trading below this level is negative and would extend the bearishness and a break below 78.6% Fib. at 1.1255 is needed to test 61.8% Fibonacci around 1.1160.

On the upside, coming above 1.1375 will negate and we prefer to see the pair below 1.1315 to be bearish.

Support: : 1.1255 – 1.1200 – 1.1160

Resistance: 1.1315 –1.1375 – 1.1400

Direction: Bearish

USD/CHF

USD/CHF has soared from SMA20 zones succeeding hitting 23.6% Fibonacci and reaching 38.2% at 0.9725 as well.

USD/CHF Daily Chart

We see RSI passing the value of 50.00 and all what we need is to witness a break above SMA20 to follow through and to make sure that ADX will offer a good positive signal.

Note, 0.9725 represent very strong resistance zone.

To conclude, we will be bullish with a break above 0.9750.

Support: 0.-9680-0.9630-0.9570

Resistance: 0.9750-0.9785-0.9835

Direction: Bullish above 0.9750

USD/JPY

The USD/JPY pair has inclined, flirting with critical areas mentioned yesterday around 109.60-109.65.

USD/JPY Daily Chart

These areas meet SMA20 and they represent a classical resistance at the same time.

Meanwhile, RSI meets the value of 50.00, which also represents a momentum resistance.

We need to be patient, as we can’t follow through yesterday’s bullishness in such critical zones. We will be neutral now and we will update with more reliable signals.

Support:109.30-108.90-108.60

Resistance: 110.00-110.50-110.80

Direction: Neutral

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