EUR/USD Current price: 1.3132


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There was a bout of late 2/27 session risk-on trading that pushed the EUR/USD above its recent consolidation and completed the daily candle with a reversal stance when combined with the 2/26 doji candle. Perhaps we will have some correction to the upside, but the downside risk remains because of Monday’s bearish break of a rising trendline that went back to 1.2041. Only a push above 1.33, and a falling trendlien from in February should push away the bearish outlook, which has 1.2875, 50% retracement in sight.


Support Levels: 1.2955 1.2998 1.3075          


Resistance Levels 1.3195 1.3238 1.3315    


   


GBP/USD Current price: 1.5160


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GBP/USD continues to consolidate tightly between this week’s low of 1.5068 and this week’s high of 1.5218. Break down of 1.5068 has the 1.50 handle in sight. Below that the 1.4781 pivot and 1.4224 pivot opens up as well. The previously noted bullish divergence is resolved, but a break above 1.5218 can open up further correction, suggesting a larger degree of consolidation.


Support Levels: 1.4992 1.5035 1.5100          


Resistance Levels: 1.5208 1.5251 1.5316


    


USD/JPY Current price: 92.29


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2/27 price action essentially mimicked the 2/26 session’s. The market could be light-footed ahead of BoJ-chief confirmation, likely to be Haruhiko Kuroda. The bearish outlook still needs further confirmation with price staying below 92.00. Then the 90.28 is a support/resistance pivot. A break below should also break a rising trendline from November. If this develops, a bearish correction opens up the 87.75-88.00 support area. If USD/JPY stays above 92.00 however, the 95.00 level is still in sight. A push above 93.00 could be an early indicator of the bullish continuation scenario.


Support Levels: 90.18 90.65 91.48          


Resistance Levels: 92.78 93.25 94.08         


    



AUD/USD: Current price: 1.0232


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The AUD/USD appears to be stick to the 1.02 area and posted gains late during the 2/27 session. There is still further room to 1.0150-1.0165 key support area. However, a push back above 1.30, which also breaks above a falling channel resistance would open up the 1.0375 pivot, above which AUD/USD would be in neutral ground.


Support Levels: 1.0129 1.0155 1.0192          


Resistance Levels: 1.0255 1.0281 1.0318          



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