 | |  | | EURUSD (1.3342 @ 07:47 GMT)
EUR/USD - the break higher above 1.3275 resistance confirms the weak USD scenario and the break level now becomes the final support level as the move has been rather large. First support actually comes in much higher around 1.3305/10. EUR/USD may follow through higher in the sessions ahead toward the 1.3480 target, but this move has us also focusing on the 1.3660 top.
GBPUSD (1.9283 @ 07:47 GMT)
GBP/USD - GBP/USD also moved smartly higherto above 1.9300 before pulling back. The action in European crosses is capping GBP/USD a bit more than the other USD pairs and this phenomenon may continue as EUR/GBP may continue to rally. Still GBP/USD could head higher to the 1.9380 target and may soon challenge the 1.9550 area top from late last year. Support now comes in around 1.9250 (with 1.9200/10 as final support.)
USDJPY (104.66 @ 07:46 GMT)
USD/JPY - USD/JPY keeps returning to the lower end of the range, and with our generally weaker USD view, a break may be in the cards soon - with 104.30 the key break level. A follow through lower could see the pair to 103.40 initially and 102.20 further out. Resistance comes in at 104.75 as the range traders may finally be about to get burned on this one.
By Saxo Bank |  |  |  |  |
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