USD/CHF tests important resistance
The Swiss franc continues to struggle against a progressive greenback. A jump above the psychological level of 0.8600 has sent a strong signal that buyers remain in the game. As the RSI flirts with the neutral area, 0.8660 will be the first level to expect some firm resistance. A dip lower will need to break 0.8540 at the previous swing low to turn things around 0.8930 in case of a prolonged consolidation.
GBPUSD struggles for bids
Cable slips after recent unemployment figures did little to lift the pound. On the chart, a drop below 1.3100 further put buyers on the defensive, making Sterling vulnerable to a bearish continuation. 1.3000 at a three-month low is the next level to see if buying interests would make their way back. On the upside, 1.3160 from a previously faded rebound is the first hurdle to clear, and then 1.3220 is a significant cap to lift before a meaningful rebound can take shape.
USDJPY grinding higher
The Yen continues to falter against the US dollar after shedding over 500 pips in the past few sessions. The dollar’s jump above the previous consolidation of 148.50 has dented further momentum from sellers. Sentiment remains widely optimistic as the greenback is still on its way to August’s high of 151.00. On the downside, 147.90 is the closest support, and 146.50 is a critical level to prevent a deeper correction.
