Technical Analysis

EUR/USD
"In the near-term the euro may target $1.25 and after that $1.20, that is now sort of the market consensus"
- Mizuho Corporate Bank (based on CNBC)
EUR/USD currency pair has dipped below 1.2860 and is currently near its 15-month low. At the moment it is heading towards 1.2530/88, while a long-term target lies at 1.2083 (200 month ma).

EUR/JPY
"The euro may drop to as low as 93 yen during 2012"
- Mizuho Corporate Bank (based on CNBC)
EUR/JPY has reached 11 year low and is likely to continue hovering below resistances at 100.77 and 100.15. The initial goal for the currency couple is at 94.92, although the pair will have to overcome supports at 97.90 and 95.90/40 first.

GBP/USD
"Expectations for the UK economy became deflated much earlier than those for the rest of the world, so in that sense a lot of bad news is already in the price for sterling"
- RBC (based on Reuters)
As long as the Cable is capped by resistances at 1.5727 (55 day ma) and 1.5748, the outlook will remain negative. Bearish impetus is strengthening and is likely to last until at least 1.5272 is reached.

USD/JPY
"Azumi's comments on the euro versus the yen do not signal imminent currency intervention, as Japan's past interventions have focused almost exclusively on the dollar/yen rate"
- Reuters
USD/JPY pair is gaining bullish momentum after it rebounded from 76.22. In the short-term 78.08 is expected to be tested once more, however, the chance of this level being overcome is minimal, since above lies a cluster of tough resistances.

USD/CHF
"Most observers would agree that the euro floor has been in the [Swiss] national benefit so it’s unlikely to be challenged"
- Swissquote Bank SA (based on Bloomberg)
USD/CHF is anticipated to rally up to 0.9548/49 in the nearest future, as it has effortlessly pierced through a preceding resistance. Longer term target is at 0.9774/84. Dips should be covered by supports at 0.9317/04 and 0.9244.