Breaking of this level may see the single currency retest the major support at 1.3250 - 1.3270 zone, established by the triple top formation formed during February 22- March 7 consolidation range. A move lower still may see the pair test the bids at 1.3184, a key 38.2 Fib of the 1.2730-13482 euro rally. Minor resistance is seen at 1.3340 where minor support turnd it into resistance.  Intermediate resistance is seen at 1.3395, a combination of the 10-day SMA and daily spike high. Major resistance will be encountered at 1.3484, a top of the euro's recent rally. Oscillators currently support the move to the upside as 4 hour Stochastic signals extremely oversold conditions at 7.97. RSI is approaching the oversold territory at 38.85. MACD is beginning to cross the zero line, indicating that the down side momentum still remains. Key levels: Longs should continue finding a major support at 1.3305, established by the 23.6 Fib of the 1.2730-13482 euro rally and by the 61.8 Fib of the 1.3669-1.2730 dollar rally, followed by another major support at 1.3250-70, established by the triple top formation formed during February 22- March 7 consolidation range. Further support can be found at 1.3184, a key 38.2 Fib of the 1.2730-13482 euro rally. A minor resistance can be found at 1.3340, a previous day low. Intermediate resistance is seen at 1.3395-1.3400 created by the 10 day SMA and the daily high. Major resistance is seen at 1.3484, a top of the euro's rally.

USD/JPY - The pair is currently consolidating within a downward slopping channel trapped between the minor support at 104.29, created by the 10-day SMA and 104.60 a minor resistance established by the 20 day SMA. Yen longs retested an intermediate support at 104.10-25, a combination of the daily low and a key 50.0 Fib of the 101.68-106.87 dollar rally.  A breakdown of the intermediate support can see the USD/JPY retest the major support at 103.66, a 61.8 Fib of the Jan-Feb dollar rally. Any further move to the down side will encounter a major support at 103.40, channels lower boundary. Major resistance can be expected at 104.87-105.05 zone as the greenback bulls have to contend with the key 38.2 Fib of the 101.68-106.87 dollar rally and a channels upper boundary. Oscillators remain neutral with Stochastic at 54.66, RSI at 49.55 and with MACD above the zero line with indicating a bearish moving average crossover. Key levels: Minor support is seen at 104.29, created by the 10 day SMA. Intermediate support can be found at 104.10-25, a combination of the daily low and a key 50.0 Fib of the 101.68-106.87 dollar rally. Major support levels are 103.66, a 61.8 Fib of the Jan-Feb dollar rally, followed by 103.40, channels lower boundary. Minor resistance is located at 104.60, a 20-day SMA. Major resistance is seen at 104.87-105.05 levels, created by 38.2 Fib of the 101.68-106.87 dollar rally and a channels upper boundary

GBP/USD - Pound retreat was halted by the intermediate support at 1.9117, right below the 23.6 Fib of the 1.8505-1.9328 sterling rally. Breakdown below current level will retest the major support at 1.9050, created by the March 3-4 lows. Failure to hold the 1.9050 level will see the pair retest support at 1.9000, a 38.2 Fib of the Feb-Mar cable rally.  Further support is seen at 1.8915, a key 50.0 Fib of the 1.8505-1.9328 pound rally. Intermediate resistance is seen at 1.9190-1.9204 levels, established by the 10-day and 20-day SMA's. Breaking of the resistance established by the pair of the moving averages will be met by another intermediate resistance at 1.9260, a daily spike high. Major resistance remains at 1.9328, rally's top. Oscillators are mixed with Stochastic indicating oversold conditions at 13.7. RSI is neutral at 41.76, treading sideways. MACD is below the zero line with moving averages approaching each other for a potential bullish crossover.    Key levels:  The major support is seen at 1.9000 and 1.9050, a March 3-4 lows and a 38.2 Fib of the Feb-Mar cable rally. The intermediate support can be found at 1.9133, a 23.6 Fib of the 1.8505-1.9328 pound rally, followed by 1.9113, a double bottom of the weekly range. Longs should encounter minor support at 1.9148 level, a 61.8% Fib of the 1.9544-1.8502 dollar rally.  Major resistance is seen at 11.9328, rally's top. The 10 and 20 day SMA's create a minor resistance at 1.9190 and 1.9227 levels

USD/CHF - Dollar bulls pushed the pair further away from the major support at 1.1479, currently meeting the resistance at 1.1661, a 23.6 Fib of the 1.2262-1.1479 Swissie rally. Multiple levels of support were established during the past 24 hours as 20-day SMA's acts as a minor support at 1.1641 and a 10-day SMA in conjunction with a daily spike low at 1.1565 established an intermediate support. A further upside momentum will be met with a major resistance at 1.1775 a 38.2 Fib of the Feb-Mar CHF rally and March 7 day high. Oscillators are beginning to indicate short-term oversold conditions as Stochastic is oversold at 89.93. RSI is approaching an oversold territory at 62.24 and MACD is beginning to cross the zero line, indicating that potential for the upside move still exists. Key levels:  The major support level is seen at 1.1479, a bottom of the 1.2262-1.1479 Swissie rally. Intermediate support is established at 1.1565, a combination of the 10-day SMA and a daily spike low. Minor support will be encountered at 1.1641 a 20-day SMA. USD/CHF longs will experience major resistance at 1.1661 and 1.1775, a 23.6 Fib and 38.2 Fib Feb-Mar CHF rally. Technical Overview Chart of the Day - EUR/AUD

2/18 EURAUD had a low at 6878 before a quick bounce to the 6958 High on 01/26. The market then fell below our S zone and came back to test it on 02/01 (high at 6930) before the final move down to 6355 on 02/11 - 575pts lower. The market reacted on the level and reached the 6665 High 2 days ago and 300pts higher. The outlook remains bearish an aggressive bears will step in at 6650/6700 in order to exploit the 20 EMA and 23.6% Fibo from the June - Feb bear wave. Higher, bears will also consider 6900/50 since the area is a decent Fibo confluence (38.2% Fibo from the Jun - Feb bear wave & 38.2% Fibo from the Jul 02 - Apr 04 bear wave). A sustained breakout above would then turn the outlook neutral and 7250 would then be open. Bulls do not have many choices and reversals seem the only option available. 6300/50 will be the area of choice since it the low BB. A sustained break below would then open the 5900 S zone.

3/16 EURAUD continues to swing within a large expanding triangle with the latest move failing to penetrate resistance at 1.7037, a key 50 Fib of the 1.7711-1.6363 Aussie rally. Aggressive bulls would try to establish longs at the current levels at 1.6840-50 levels, as support created by the lower boundary of the small channel.  A breakout above the 1.7037 will carry the synthetic to 1.7196-7216 zone, a resistance created by 61.8 Fib and a reversal high on October 19. A sustained breakout will open the 1.7600 as a target for aggressive bulls. Aggressive bears will try to establish shorts on a pull back to the current resistance of 1.7037 and will target the 1.6620, a support created by a bottom of the Nov-Dec swing. A sustained breakdown may see the bears push the cross to 1.6200, triangles lower boundary. Indicators remain supportive of the range bound trading as ADX remains below 25. Stochastic is bouncing against the oversold level at 74. ATR is low, indicative of falling volatility, which points to short-term trending conditions.  Technical Levels - London/New York