Inline CPI numbers (7% YoY) on wednesday have been enough for the market to start a Dollar sell off. The logic is that a high inflation print and low expectations on future rate hikes leave room for further devaluation. The next major support is around the 94.50 level.
EURUSD -- 1.1451
The descending trendline from jun21 is under threat and the big 1.15 treshold is not far away anymore. Around 1.1525/13 the currency pair was well supported in october last year. So I expect 1.1500/1525 to be a tough resistance zone. To the downside the big figure 1.1400 should support the pair for now. A close below the 50 ema (1.1381) could mean the end of the correction for now.
GBPUSD -- 1.3722
Sterling looks stretched with an overbought RSI after the 4.25% run from 20dec21 to yesterday. The pair is still quite bid and only capped by the 200 dma (1.3738) for now. I do not advise shorts at this time but I would take profit on longs if I had any.
USDCHF -- 0.9113
After all, the triangle chart pattern is history. Spot has moved through the green ascending support line finally. The next level of support around 0.9085 has hold yesterday und today and could be the starting point of a small relief rally back to the 200 dma (0.9165) and the green trendline.
Good luck,
Sebbo