From the FXWW Chatroom: USDCHF:
Not much to add: As long as the resistance line of 1.0005 is not clearly broken in a 4 hourly close basis the down trend could continue. Sell the USD at 0.9970 and 1.0000 with sl above 1.0030
Support at 0.9956, 0.9904,0.9862
Resistance at 1.0005, 1.0045, 1.0094
EURUSD:
As long as the resistance line of 1.0736 is not clearly broken in a 4 hourly close basis the move down will dominate. Sell the EURO at 1.0700 and 1.0730 with sl above 1.0760.
Support at 1.0655, 1.0618, 1.0554
Resistance at 1.0713, 1.0755, 1.0802
USDJPY:
As long as the low of 111.60 is not clearly broken in a 4 hourly close basis the correction up could start anytime. A clear break at the resistance line of 112.61 would open the way in the direction of 113.45 before the downtrend could follow. Stand aside for today.
Support at 112.04, 111.60, 111.13
Resistance at 112.61, 113.08, 113.45
AUD/USD:
Continues to be friendly, the up-move could extend to 0.7700-0.7720 (0.7695 highs on the 2nd and 3rd of February) in the next trading sessions.
GOLD:
Support area between 1190.00 and 1195.00 was in fact strong enough to stop any Gold losses and recovered strongly managing to break and stay above 1220.00 which could bring GOLD higher to test the 17th of November high at 1231.40 (already tested, 1235.70 yesterday’s high).
GBP/USD:
No change, the pair tested the support zone around 1.2380 and rebounded, a clear break and stabilization below 1.2380-1.2420 is still needed ,otherwise the positive bias is likely to prevail with upside potential to retest the 14th of December high at 1.2720 first (1.2707 2nd of February high)and probably 1.2730-1.2730 (13th and 14th of December highs) later on.
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