ASIA: Coming up in the Asian session on Thursday

• RES 4: 1.3729 76.4% retracement of the Nov 1 - Dec 27 bear leg
• RES 3: 1.3661 High Nov 27
• RES 2: 1.3623 61.8% retracement of the Nov 1 - Dec 27 bear leg
• RES 1: 1.3606 High Feb 28 and the bull trigger
• PRICE: 1.3545 @ 16:49 GMT Mar 18
• SUP 1: 1.3420 Low Mar 8 and the bear trigger
• SUP 2: 1.3359 Low Jan 31 and key S/T support
• SUP 3: 1.3343 Low Jan 12
• SUP 4: 1.3288 Low Jan 5

USDCAD short-term conditions remain bearish, however, a continuation of the latest recovery would undermine this theme and expose key resistance at 1.3606, Feb 28 high. Clearance of this level would resume the uptrend that has been in place since December 27. For bears, a move below 1.3420, Mar 8 low, would instead resume bearish activity and open 1.3359, Jan 31 low. 1.3606 and 1.3420 are seen as important directional triggers.

• RES 4: 0.6748 High Jan 5
• RES 3: 0.6729 High Jan 12
• RES 2: 0.6708 61.8% retracement of the Dec 28 - Feb 13 bear cycle
• RES 1: 0.6632/68 High Mar 14 / 8 and the bull trigger
• PRICE: 0.6556 @ 16:48 GMT Mar 18
• SUP 1: 0.6552 Low Mar 15
• SUP 2: 0.6478/6443 Low Mar 5 / Low Feb 13 and the bear trigger
• SUP 3: 0.6412 76.4% Fibonacci retracement for Oct - Dec upleg
• SUP 4: 0.6360 Low Nov 14

AUDUSD remains below its recent highs. The latest pullback appears to be a correction. The pair has traded through support around the 50-day EMA - at 0.6571. A clear break of this average would signal scope for a deeper pullback towards the next key support at 0.6478, the Mar 5 low. On the upside, clearance of resistance at 0.6668, the Mar 8 high, is required to resume the bull cycle and this would open 0.6708, a Fibonacci retracement.

• RES 4: 165.00 Round number resistance
• RES 3: 164.30 High Nov 16 and a key medium-term resistance
• RES 2: 163.72 High Feb 26 and the bull trigger
• RES 1: 162.96 High Mar 6
• PRICE: 162.18 @ 16:47 GMT Mar 18
• SUP 1: 160.86/22 Trendline drawn from Dec 7 low / Low Mar 11
• SUP 2: 159.47 Low Feb 8
• SUP 3: 158.92 Low Feb 7
• SUP 4: 158.08 Low Feb 1 and a key support

EURJPY maintains a former short-term tone. Key trendline support at 160.86, remains intact. The trendline is drawn from the Dec 7 low and has recently been pierced. A clear break of the line is required to strengthen a bearish theme and signal a reversal, paving the way initially for 158.92, the Feb 7 low. The trend remains up with the trendline intact. A continuation higher would open key resistance and the bull trigger at 163.72, the Feb 26 high.