The Risk Today:
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EurUsd After yesterday breakout move not much movement today. We see strong momentum towards 1.2553 (Dec 4th low) with an eye on 1.2651 and 1.2707 as retracement levels (23.60% and 50.00% on Fibonacci retracement).

GbpUsd Corrective move back to 1.4300 fell slightly short and Usd rally pushed the sterling down. Pentrating 1.4142 support to the 1.4100 handle. Short term support stand at 1.4053 with 1.3506 as a mid-term target. On the upside 1.4311 (38.20% on Fibonacci retracement) then 1.4499.

UsdJpy Not much actively from the JPY but dailies have picked up a bullish trend. 92.75 stands as initial resistance, however we see 94.65 a crowded resistance – a break at this level would pave the way for a renewed upward bias towards 97.44. Intraday support stands at 92.09 – long-term support remains at 87.12.

UsdChf Stuck in a 1.1652 - 1.1762 range. Swissy’s moves have been more subdued than other majors, strong resistance at 1.1784 (Jan 10th high) – a break of this level allows us to aim for 1.2308 in the long-run. Intraday support stands at 1.1652 with mid-term support at 1.1508.