The Risk Today:

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EurUsd The pair failed to reach 1.3479 (200d ma) as a pullback in risk damped USD bearishness. Failure to sustain move above 1.3412 neutralizes bullish theme & puts the focus on 1.3190 intra day support. We expect rangebound trading ahead of tomorrow ECB meeting.

GbpUsd Sustained trading above 1.4920 implies that cable can push higher towards 1.5373 jan 8th high. However, choppy trading, momuntum & wave pattern suggests a pullback to 1.4820/30.

UsdJpy Failure to test 100 psychological resistance will now focus on 97.75 intra day support. We remain constructive above 95.63 (april 28th low) and expect consolidation above 98.00 lvl near term.

UsdChf After frequent spikes below 1.1300 the pair in now firmly trading under 1.1387 (200d ma). This bearish signal should lead to a test of 1.1271/41 support range ahead of 1.1160 horizontal support. Intra day drift should be capped by 1.1383 resistance before the pair resumes its bearish spiral