The Risk Today:
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EurUsd Convergence towards the 1.2900 pivot continues, breakout failed to materialize – Euro moves continue to be unsustainable. Downward channel slows, initial focus for a support level points to 1.2902, 1.2877 – solid support at 1.2814. Resistance on the upside sits at 1.2934, breakout of 1.2900 – 1.2940 range would retest 1.3000 levels.

GbpUsd The cable rebounding nicely, testing 38.20% retracement of 1.4986 – 1.4140 move at time of writing. We see initial support at 1.4339 (Feb 11th support, 23.6% retracement) then aim for 1.4140 (Feb 12th 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 Renewed risk aversion and continued haven status of both currencies sees the Yen give way to the dollar. Upward channel on the 1week chart shows we are in a 1 day upward channel. Strong resistance at 91.78, from there we go to 92.42.

UsdChf Clear upward trend persists on the monthly chart. We tested the lower trend line several times these past days. 1.1567 and 1.1502 support on the lower side. Not much points to the pair breaking out anytime soon – despite consumer confidence improving in Switzerland.