DailyFX (based on CNBC)

 Technical Analysis

EUR/USD

"With a recession in the euro zone now widely expected to significantly slow global output as a whole, investors' hopes have turned to the emerging pickup in the US to act as a counterweight"

EUR/USD has bounced off 1.3000 and is now headed towards 1.3291/1.3325, where the pair is expected to stop advancing and terminate its bullish correction. Supports at 1.2974/54 and 1.2624 should thus be in focus.

EUR/JPY

"Euro-zone prospects have improved significantly, but there are still some unresolved questions lurking in the background"
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Being that resistance levels at 110.26 and 111.57 are rather strong, there is little chance they will be breached at the very first try. Dips are to be contained by supports located at 108.01, 107.61 and 105.00.

GBP/USD

"Everything is relative and given that we no longer live in a AAA world, any potential downgrade for the UK should have a negligible impact upon borrowing costs"
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Despite the recent bullish momentum of the pair, which managed to drag it above 1.5810 (200 day ma), the rally is unlikely to extend beyond 1.5992. The immediate support may be found at 1.5773, while subsequent levels are at 1.5730 and 1.5689.

USD/JPY

"Investors are likely to take profits today with a lack of news to move the yen. But with a positive housing report expected from the U.S. and hopes for some easing from Japan’s central bank"

USD/JPY currency pair seems to be weakening in the short-term. This may allow for a drop down to 82.23. Nonetheless, support at 81.98/61 should be able to preserve the overall long-term bullish bias.

USD/CHF

"The psychology around the dollar does appear to be changing and I’m confident that dollar strength will probably continue"

As long as supports situated at 0.9141 and 0.9066 manage to withstand bearish pressure, long-term outlook will remain bullish for the currency couple. Resistances will be encountered at 0.9228, 0.9300 and 0.9317.