Intraday EUR/USD: The euro remains bearish and nears $1.4092, Wednesday’s intraday low, a fall through which has $1.4046, Tuesday’s low, in sight. Further down, $1.4015 support, that’s October’s low, might then also be reached. Below this level support comes in at $1.3930, the mid-September ‘07 high. Minor resistance lurks around $1.4196, Friday’s low.

Weekly chart EUR/USD trend: Bearish.

Intraday USD/JPY: The dollar is hovering around Y107.38 minor resistance, having dropped to and recovered from Y106.66 early Wednesday morning. Resistance above Y107.38 can be seen around Y107.74, that’s Friday’s peak. Further minor resistance is seen at Y108.05, the 38.2% Fibonacci retracement.

Weekly chart USD/JPY trend: Capped.

Intraday GBP/USD: Sterling remains bearish and might fall back to $1.7535, Tuesday’s low, a decline through which has $1.7473, Monday’s trough, in sight. Further support is only seen around $1.7386, where the mid-April ‘06 low was made. Minor resistance stands at $1.7670, Wednesday’s low, and around $1.7706, Tuesday’s inside day high, a break above which would be short-term bullish with resistance around $1.7784, the Sep. 2 low, being targeted then.

Weekly chart GBP/USD trend: Bearish.

Intraday USD/CHF: The dollar still targets its new ‘08 high at CHF1.1373, made Monday. First though minor support around CHF1.1271, Tuesday morning’s intraday low, and also support around CHF1.1250 might be retested before the last July to September uptrend may continue.

Weekly chart USD/CHF trend: Bullish.

More forex technicals to come…

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