Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 77
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EURUSD
Euro failed to break or even test any support or resistance levels during the previous session. It spent most of the time trading in a tight 30 pip range between 1.3390 and 1.3360. So the bullish outlook remains as long as trading stays above 1.3330 with the same targets at 1.3410 & 1.3440. Momentum indicators RSI, MACD give no signals which means the bullish outlook is weak. German ifo Business Climate is the figure to watch out for today for the EURUSD at 8:00am GMT
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Res: 1.3410, 1.3450, 1.3480, 1.3520
Sup: 1.3330, 1.3300, 1.3260, 1.3230
GBPUSD
Overall we saw narrow trading within a 40 pip range, however there was an attempt to break the 1.5600 level. It did manage to rise above it reaching 1.5610, but the candle on the H1 failed to close above 1.5600 resistances so we will consider it a false break and that resistance still valid. We see here the same scenario as the euro were momentum indicators show weak momentum on both the buy and sell side, which may continue today with lack of figures from the UK
Res: 1.5600, 1.5640, 1.5700, 1.5720
Sup: 1.5540, 1.5515, 1.5490, 1.5420
USDJPY
Strong moves on the Yen, continuing its downtrend breaking 98.40 supports and falling further to test 98.10. The first attempt failed to show a candle closing below that support and we saw a subsequent rise. It currently dropped back to that level and is testing it again. Although now it’s trading below 98.10t, we won’t consider it broken until it trades for some time below it proving the market is comfortable breaking that support and not just another failed attempt
Res: 98.40, 98.80, 99.15, 99.35,
Sup: 98.10, 97.85, 97.30, 97.55
AUDUSD
The Aussie breaks 0.8970 support and looks heading to test 0.8930. However we might see a brief retracement before that happens. It’s important to note that 0.8930 will be a much more difficult barrier for it to pass, as it is the low of the previous downtrend that ended on the 2nd of August. Moving averages 20 & 55 plus momentum indicator RSI(14) point down.
Res: 0.9040, 0.9100, 0.9130, 0.9150
Sup:, 0.8930, 0.8900, 0.8845, 0.8800
EURUSD
The Euro remains under pressure, as near-term downtrend off 1.3400 upside rejection, completed 1.3187/1.3450 upleg on extension to 1.3172, over 38.2% retracement of larger 1.2754/1.3450 ascend. The price hovers around 1.32 handle at the beginning of the week, trading in near-term consolidative mode. Negative tone prevails and sees the downside favored, with repeated attempt through 1.3205/1.3187 supports, expected to open 200DMA at 1.3140 and 1.3100, round figure/50% retracement support. However, overextended 4-hour studies and bearish divergence on hourly chart, see potential for more significant corrective action. Lower platform at 1.3253, also Fibonacci 38.2% of 1.3397/1.3172, offers initial resistance, ahead of Fibonacci 50% barrier at 1.3284 and psychological 1.33 resistance, also 22/08 low and near 61.8% retracement, where rallies should be ideally capped. Any break higher, would ease bear pressure and signal near-term base.
Res: 1.3253; 1.3284; 1.3300; 1.3344
Sup: 1.3205; 1.3172; 1.3140; 1.3100
GBPUSD
Cable recovers 50% of 1.5716/1.5427 fall, on acceleration from last Friday’s low at 1.5461, with Monday’s gap-higher opening. Positive near-term studies are supportive, as repeated attempt below 200DMA at 1.55, so far showed false breaks. However, regain of 1.5600, near 61.8% retracement and lower top at 1.5636, is required to confirm recovery and re-focus 1.5700, round figure and 1.5716, 21/08 peak / 100% Fibonacci expansion of the upleg from 1.5100, as larger picture bulls remain intact for now. Only break below 1.5420 higher platform, would bears back in play and signal completion of daily Head and Shoulders pattern.
Res: 1.5572; 1.5600; 1.5636; 1.5700
Sup: 1.5546; 1.5504; 1.5461; 1.5427
USDJPY
The pair continues to trend higher, off 96.80 low, with price approaching psychological 99.00 barrier and 99.14, 23/08 high. Repeated attempt above bear-channel off 101.52 peak, sees scope for eventual attempt through 99.14, near-term congestion top, above which to confirm higher base at 96.80 and allow for further retracement of 101.52/96.80 downleg. Positive studies on lower timeframes support the notion. Initial supports lay at 98.50 and 97.87.
Res: 99.00; 99.14; 99.25; 99.93
Sup: 98.50; 98.27; 98.00; 97.87
AUDUSD
The Aussie remains under pressure, as fresh extension of downleg from 0.9332 peak, retested 0.8890 low, where temporary footstep was found. Corrective rally is under way, with the price cracking 50% retracement of 0.9068/0.8890 descend and approaching psychological 0.9000 barrier. Sustained break here is seen as minimum requirement to signal near-term base and allow for stronger recovery, however, gains should be limited, as larger timeframes studies being negative and keeping the risk of full retracement of 0.8846/0.9232 upleg in play.
Res: 0.9000; 0.9026; 0.9068; 0.9100
Sup: 0.8962; 0.8923; 0.8890; 0.8846
EURUSD
The Euro maintains negative tone and attempts again through strong 1.3180/70 support zone, higher platform / Friday’s low, after brief recovery rally failed to sustain gains above 1.3200 barrier. Near-term technicals are bearish and favor further extension lower, with 200DMA / daily Ichimoku cloud top at 1.3140 and 1.3100, 50% retracement of 1.2754/1.3450, coming in near-term focus. However, hesitation above the downside targets may be triggered by oversold 4-hour conditions. Immediate resistance lay at 1.3200, round figure and 1.3225, Monday’s high, while more significant recovery requires break above 1.3258/84, Fibonacci barriers 50% / 61.8% retracement.
Res: 1.3200; 1.3258; 1.3284; 1.3300
Sup: 1.3140; 1.3100; 1.3087; 1.3066
GBPUSD
Cable regained some strength on a bounce from 1.5461 higher low and approached psychological 1.5600 barrier. Failure to break higher, sees increased downside risk, as the price reversed to 1.5530, where temporary footstep was found at 55DMA. Holding above the latter would keep fresh upside attempts in play, as 4-hour indicators are pointing higher and breaking above their midlines, with regain of 1.5600 and 1.5636 required to confirm higher low and shift focus towards 1.5700/16 barriers. Alternatively, loss of 1.5530 and psychological 1.5500 support, would increase risk of fresh weakness that would bring key short-term support and pivotal point at 1.5420/00 zone in focus.
Res: 1.5592; 1.5636; 1.5700; 1.5716
Sup: 1.5530; 1.5500; 1.5461; 1.5427
USDJPY
The pair continues to trend higher, off 96.80 low, with break above psychological 99.00 barrier and 99.14, 23/08 high, heading towards psychological 100 barrier. Sustained break above bear-channel brings near-term bulls fully in play, with daily indicators breaking above the midlines and supporting the notion. Break and close above 100 barrier is required to completion of weekly bullish pennant and open next targets at 100.85 and 101.52.
Res: 99.69; 100.00; 100.44; 100.85/.
Sup: 99.14; 99.00; 98.50; 98.27
AUDUSD
Near-term structure remains positive, as the price heads higher off near-term base and double-bottom at 0.8891. Sustained break above psychological 0.9000 barrier, opens way for extension towards 0.9068, 26/08 high, to complete the downleg and confirm double-bottom formation, break of which to signal possible stronger recovery. Positive near-term studies remain supportive. From the other side, larger picture remains bearish, with downside risk being in play as long as 0.9230/40 barriers cap.
Res: 0.9000; 0.9026; 0.9068; 0.9100
Sup: 0.8962; 0.8923; 0.8890; 0.8846
EURUSD
The Euro remains under pressure and extends fresh weakness below important 1.3200/1.3180 support zone. The price tested 200DMA at 1.3136, with psychological 1.3100 support, also 50% of 1.2754/1.3450, being in near-term focus. Negative near-term studies, along with daily indicators entering negative territory, see scope for further downside, with break below 1.3100, expected to open 1.3050, 16/07 low and 1.3020, Fibonacci 61.8% retracement. Previous supports at 1.3180/1.3200, now act as initial resistances, with the latter being reinforced by descending 20DMA. Further upside would face Fibonacci barriers at 1.3236 and 1.3266, 38.2% and 50% retracement of 1.3397/1.3136, ahead of 1.3300, round figure resistance and Fibonacci 61.8%, where stronger rallies should be capped.
Res: 1.3172; 1.3200; 1.3236; 1.3266
Sup: 1.3136; 1.3100; 1.3066; 1.3050
GBPUSD
Cable trades in the near-term consolidative mode, after cracking psychological 1.5600 barrier on a spike to 1.5603. The second day closing above 200DMA, gives more credibility to the recovery rally from 1.5427, where pullback from 1.5716, 21/08 peak, found support. Positive tone prevails on near-term studies, with price action retracing so far 61.8% of 1.5716/1.5427 descend, keeps the upside in near-term focus. Sustained break above 1.5600 and clearance of the last hurdle at 1.5636, is required to confirm bulls for eventual push towards key 1.5700/16 barriers. Initial support lies at 1.5521, Tuesday’s low, ahead of 1.5500, 200DMA and higher lows at 1.5461/27, loss of which will be bearish.
Res: 1.5571; 1.5603; 1.5636; 1.5648
Sup: 1.5521; 1.5500; 1.5461; 1.5427
USDJPY
The pair remains steady and continues to trend higher, en-route towards psychological 100 barrier, with 99.85 seen so far. Positive near-term technicals support the action, with sustained break above 100 barrier, to signal completion of weekly bullish pennant and open next targets at 100.85 and 101.52. Near-term consolidation lows at 99.22/15, along with 99.00, offer initial support. Only reversal under 98.50, 29/08 high, would delay and signal stronger correction.
Res: 99.85; 100.00; 100.44; 100.85
Sup: 99.14; 99.00; 98.50; 98.27
AUDUSD
The pair remains well supported and extends near-term recovery rally off 0.8890 double-bottom, with 0.9100, psychological / Fibonacci 61.8% of 0.9232/0.8890 barrier, being taken out. The price also cracked daily 55DMA, setting scope for final push through 0.9175, daily cloud base, towards key near-term barriers at 0.9220/32 double-top. Near-term studies are positive, however, overbought conditions require caution, as corrective pullback would precede fresh rally. Initial support lies at 0.9068, 26/08 previous high.
Res: 0.9152; 0.9188; 0.9200; 0.9220
Sup: 0.9100; 0.9068; 0.9000; 0.8977
EURUSD
The Euro/Usd trades in near-term corrective mode, off last week’s fresh low at 1.3100, where the pair found temporary support. Strong rally from 1.3100, with weekly close above 200DMA, remains capped under 1.3200 barrier for now, where the price consolidates. Positive hourly structure, with price action being underpinned by 20/55DMA’s bullish crossover, sees the upside favored. Break above 1.32 to open next layers of significant resistances at 1.3220 zone, Fibonacci 38.2% of 1.3397/1.3103 / 55DMA and 1.3250, 50% retracement, 30/08 lower platform, break of which to confirm recovery. Indicators on 4-hour chart are in the negative zone that keeps the downside at risk, however bullish MACD/RSI divergence is seen as supportive factor. Immediate support lies at 1.3160, while violation of 1.3100, would bring bears in play and signal resumption of larger downtrend from 1.3450 peak.
Res: 1.3189; 1.3200; 1.3220; 1.3250
Sup: 1.3160; 1.3136; 1.3100; 1.3080
GBPUSD
Cable holds positive near-term tone, as Friday’s rally spiked to a marginally higher high at 1.5679, en-route towards near-term targets at 1.5700/16. Technicals on lower and larger timeframes are positive and favor further upside, with clearance of initial 1.5716 barrier, expected to open way towards key 1.5751, 17/06 peak. Overnight’s low at 1.5611, offers initial support, along with psychological 1.5600 level, while only slide below Friday’s low at 1.5562, would signal stronger pullback.
Res: 1.5666; 1.5679; 1.5700; 1.5716
Sup: 1.5611; 1.5600; 1.5562; 1.5553
USDJPY
The pair recovered good part of last Friday’s losses, when the price dipped to 98.53, following brief break above 100 barrier and fresh high being posted at 100.21. Gap higher opening cracked 100 hurdle again, however, weak hourly studies keep the downside at risk. Loss of 99.00, psychological support and Friday’s closing price, would trigger fresh weakness and expose 98.50 breakpoint, Friday’s low / 50% retracement of 96.80/100.21 ascend. Conversely, sustained break above 100 barrier, is required to resume broader uptrend off 95.78, 08/08 low and look for test of 100.44/85 barriers.
Res: 99.79; 100.09; 100.21; 100.44
Sup: 99.15; 99.00; 98.50; 98.00
AUDUSD
The Aussie remains firm and consolidates last week’s gains that peaked above 0.9200 barrier. Positive tone prevails on lower timeframes and sees scope for eventual attempt through key near-term barriers at 0.9220/32, to confirm near-term base and open way for stronger corrective action towards 0.9300 zone, where the next barriers lay. Daily indicators breaking above the midlines, support the notion. Initial supports lies at 0.9160 zone, while only loss of 0.9115/00 handles, would delay immediate bulls.
Res: 0.9215; 0.9220; 0.9232; 0.9250
Sup: 0.9166; 0.9115; 0.9100; 0.9068
EURUSD
The Euro regained strength after finding ground at 1.3100 zone, 50% of 1.2754/1.3450 upleg, rallying through 1.3200/20 and 1.3250 barriers. The price retraced exactly 50% of 1.3450/1.3103 descend at 1.3277, session high, with pause in rally suggested by overbought 1 and 4-hour conditions. Near-term studies are positive and favor further upside, with psychological 1.33 level and 1.3320, previous consolidation floor / Fibonacci 61.8%, are the next targets, with 1.3400, range top and 1.3450, 20/08 peak, seen on extension. Corrective dips should be ideally contained at 1.3200, psychological support / 20DMA, to keep freshly established bulls in play.
Res: 1.3279; 1.3300; 1.3320; 1.3355
Sup: 1.3250; 1.3220; 1.3200; 1.3190
GBPUSD
Cable has fully retraced 1.5716/1.5427, near-term corrective phase, as rally from 1.5427, extended gains to 1.5731 so far. Key support at 1.5751, 17/06 high, reinforced by weekly 200DMA, is in near-term focus, with break higher to confirm 1.4830/12 double-bottom and open way for further extension of bull-phase from 1.4812, 07/07 low. Overall bulls remain in play, with overbought near-term studies suggesting consolidative/corrective phase, ahead of fresh rally.
Res: 1.5731; 1.5751; 1.5809; 1.5843
Sup: 1.5684; 1.5645; 1.5615; 1.5562
USDJPY
The pair maintains positive near-term tone, as repeated rejection above 100 barrier, found footstep at 99.32, keeping the Monday’s gap intact. Fresh strength aims through 100 again, with break above 100.21, last Friday’s high, required to resume upleg from 96.80 and open 100/44/85, next targets. Near-term studies are positive and keep the upside favored, as long as the price holds above 99.32 higher platform. Conversely, loss of 99.00 would bring bears back in play.
Res: 100.09; 100.21; 100.44; 100.85
Sup: 99.46; 99.32; 99.00; 98.53
AUDUSD
The Aussie continues to trend higher and cleared strong barrier at 0.9220/32, 12/19 / 08 double-top. This confirms near-term base at 0.8846/90 and sees potential for further recovery towards pivotal 0.9300/50 resistance zone. Daily indicators are breaking into positive territory and gaining strong bullish momentum that supports the notion. However overbought near-term conditions suggest pause in current rally, in favor of corrective pullback. Previous barriers at 0.9232/20, now act as initial support, ahead of 0.9200/0.9190. Increased downside risk would be seen on a slide below 0.9100 handle, near 50% retracement of 0.8891/0.9288 rally.
Res: 0.9288; 0.9300; 0.9316; 0.9343
Sup: 0.9232; 0.9220; 0.9200; 0.9190
GOLD
Spot Gold remains under pressure, with near-term technicals maintain negative tone, as recovery attempt was capped under psychological 1400 barrier. Fresh weakness is under way, with immediate support at 1373 coming under pressure, ahead of more significant 1358/55, 06/09 low / trendline resistance, below which to open key support and breakpoint at 1350 zone. Alternative scenario requires break above 1400 and regain of 1416 lower top, to avert immediate downside risk.
Res: 1381; 1394; 1400; 1410
Sup: 1373; 1358; 1353; 1350
EURUSD
The Euro holds firm and consolidates recent gains off 1.31 base, trading within 1.3230/80 range. Near-term studies remain positive and favor further upside, where 1.33 comes first, ahead of 1.3320, previous consolidation floor / Fibonacci 61.8% of 1.3450/1.3103 downleg. The downside is for now protected at 1.3230, previous resistance and 55DMA, with any extension lower, expected to hold above 1.32 handle, also near 50% retracement of 1.3103/1.3381 ascend, to keep positive structure intact.
Res: 1.3281; 1.3300; 1.3320; 1.3355
Sup: 1.3230; 1.3220; 1.3200; 1.3190
GBPUSD
The pair continues to trend higher, with clearance of the last hurdle at 1.5700, approaching key short-term resistance at 1.5751. Break here is required to complete three-month corrective phase and signal break out of six-month cycle, as well as to confirm larger picture double-bottom, formed on 1.4830/12 lows. Positive near-term studies remain supportive, however, hesitation at 1.5751 hurdle may be triggered by overbought conditions. Initial supports lie at 1.5700/1.5684, with stronger pullback expected to find ground above 1.5600/1.5585, near 50% retracement of 1.5427/1.5743 rally, to keep bulls in play.
Res: 1.5743; 1.5751; 1.5809; 1.5843
Sup: 1.5700; 1.5684; 1.5622; 1.5600
USDJPY
The pair finally cleared 100 barrier, with yesterday’s close above this level, suggesting further advance. With initial 100.44 resistance being taken out and 100.85 coming in near-term focus, extension towards key barrier at 101.52, 08/07, would be likely short-term scenario. Positive tone prevails on lower and larger timeframes studies and keeps bulls in play. Corrective dips would face immediate support at 100 level, with solid support at 99.32/00 zone, seen as ideal reversal point.
Res: 100.60; 100.85; 101.00; 101.52
Sup: 100.00; 99.32; 99.00; 98.53
AUDUSD
The Aussie remains well supported and continues to trend higher. Final push through psychological 0.9300 barrier, so far tested 0.9316, 24/07 high, cracking strong 0.9300/0.9350 resistance zone, break of which is required to confirm short-term base at 0.8846/90 lows and allow for stronger retracement of larger 1.0581/0.8846 descend. Near-term technicals are positive, with overbought 4-hour studies, suggesting corrective action, ahead of fresh attempt higher. Previous resistance at 0.9232/20, along with psychological 0.9200 level, offer good support, while only loss of 0.9100 support, also 50% retracement of 0.8891/0.9317 ascend, would bring bears back in play.
Res: 0.9316; 0.9343; 0.9350; 0.9400
Sup: 0.9279; 0.9232; 0.9220; 0.9200
EURUSD
The Euro cracked psychological 1.33 resistance on Wednesday’s rally through 1.3280, two-day consolidation top. Fresh gains reached 1.3323 so far, over 61.8% retracement of 1.3450/1.3103 downleg, with positive near-term studies being supportive for further advance. Clearance of 1.33 barrier would open way for final push towards key levels at 1.3414/50, 19/06 and 20/08 highs, also five-month cycle peaks. From the other side, daily studies are still weak and keep the risk of possible stall in play. Near-term bulls may be delayed, as 4-hour studies are overbought, with corrective easing expected to face immediate support at 1.3280, previous range top / daily 20DMA, ahead of more significant 1.3240/30 higher platform that should contain dips.
Res: 1.3323; 1.3355; 1.3400; 1.3414
Sup: 1.3280; 1.3253; 1.3230; 1.3220
GBPUSD
Near-term bulls remain unobstructed, as the pair rallies higher and broke above psychological 1.58 barrier, after clearing key short-term resistance at 1.5751. Fresh bull phase above 1.5751, attempts at initial target at 1.5843, 08/02 high, ahead of 1.5877; 01/02 high and psychological 1.5900 barrier. Studies remain positive on all timeframes and keep the upside favored, however, corrective pullback on overbought conditions is likely to precede fresh rallies. Immediate support lies at 1.5800, with previous peak at 1.5751, seen next and 1.5700 zone expected to contain.
Res: 1.5831; 1.5843; 1.5877; 1.5900
Sup: 1.5800; 1.5751; 1.5717; 1.5700
USDJPY
The pair came under increased pressure, after pullback from fresh high at 100.60, accelerated lower and broke below important 99.32 support and weekly low. With hourly studies being negative and 4-hour indicators approaching their midlines, immediate risk is seen on violation of 99.00 support that will fill Monday’s gap and open way for further easing towards 98.00, 50% retracement of 96.80/100.60 upleg and 98.53, 06/09 spike low, loss of which to confirm near-term top at 100.60. Conversely, reversal above 99.00, would keep near-term bulls in play, as positive daily studies support such scenario.
Res: 99.60; 100.00; 100.36; 100.44
Sup: 99.18; 99.00; 98.70; 98.53
AUDUSD
The Aussie’s near-term bulls extended higher to briefly test the upper boundary of pivotal 0.9300/50 resistance zone. Subsequent sharp pullback weakened hourly structure, as the price dipped about 100 pips, but could be still seen as corrective, as 4-hour structure is positive. However, reversing 4-hour indicators suggest that further easing cannot be ruled out, with strong 0.9232/20 and 0.9200 support area, coming in sight. Ideally, dips should be contained here, to keep overall near-term positive structure intact, as fresh strength above 0.9350 is required to signal reversal.
Res: 0.9275; 0.9300; 0.9316; 0.9353
Sup: 0.9232; 0.9220; 0.9200; 0.9170
EURUSD
The Euro remains steady ahead of Fed tomorrow and consolidates after fresh rally that peaked at 1.3384 on Monday. Pullback has so far found support at 1.3320, previous high / hourly 55DMA, with positively aligned 4-hour studies, keeping the upside focused. Key barriers lay at 1.3400 and 1.3450, clearance of which to signal break above multi-month congestion. From the other side, weak hourly studies, keep the downside vulnerable for possible test of important 1.33 support, Fibonacci 61.8% of 1.3252/1.3384 upleg, loss of which would sideline near-term bulls and open key support at 1.3350/40 higher platform, also 50% retracement of 1.3103/1.3384 rally.
Res: 1.3353; 1.3384; 1.3400; 1.3450
Sup: 1.3324; 1.3300; 1.3274; 1.3252
GBPUSD
The pair trades in near-term corrective mode, after posting marginally higher high at 1.5961 on Monday. Reversal was so far contained at 1.5887, 55DMA / 38.2% of 1.5775/1.5961 upleg and just ahead of 1.5878, last Friday’s closing price and 1.5868, 50% retracement, below which to trigger stronger pullback, suggested by weakening hourly studies. However, bullish tone, prevailing on larger timeframes, keeps final push towards psychological 1.6000 barrier and favored scenario, once corrective phase ids completed.
Res: 1.5929; 1.5961; 1.6000; 1.6010
Sup: 1.5887; 1.5870, 1.5838; 1.5819
USDJPY
The pair recovered over 38.2% of 100.60/98.44 fall, as bounce from 98.44 filled Monday’s gap and reached so far 99.35, with 99.00, now acting as immediate support. Hourly studies turned positive and see potential for further recovery, however, weak 4-hour conditions see regain of 99.96, 13/09 lower top, required to sideline downside risk towards 98.25/00 targets and open levels above 100 barrier instead.
Res: 99.35; 99.52; 99.77; 99.96
Sup: 98.44; 98.25; 98.00; 97.70
AUDUSD
The Aussie erased Monday’s gains that peaked at 0.9392 and turned in defensive mode, mainly being driven by fundamentals. Dips found footstep just below 0.9300 support for now, with weak hourly studies, seeing risk of further easing, before bulls return to play. On the 4-hour chart, positive tone prevails, however, the price is losing momentum. Also, formation of RSI/MACD bearish divergence, keeps the downside vulnerable. Loss of 55DMA at 0.9232 and higher platform at 0.9222, would be initial signal of stronger correction. From the other side, break above key 0.9300/50 resistance zone, would open way for further recovery and expose psychological 0.9500 barrier in the near-term.
Res: 0.9333; 0.9353; 0.9392; 0.9430
Sup: 0.9284; 0.9265; 0.9232; 0.9222
EURUSD
The Euro continues to trade sideways, awaiting Fed’s decision and holding within 1.3324/84 consolidative range. The downside is protected by hourly Ichimoku cloud and ascending 55DMA, with positively aligned near-term studies, keeping near-term bulls in play. Final push through 1.3384 peak to open 1.3400 lower platform and key 1.3450 hurdle. Alternatively, violation of the range floor, also previous high and 50% retracement of 1.3252/1.3384, would be seen as initial signal of corrective phase and expose 1.3300, Fibonacci 61.8% and strong 1.3240 higher platform and 50% of larger 1.3103/1.3384 ascend.
Res: 1.3368; 1.3384; 1.3400; 1.3450
Sup: 1.3345; 1.3324; 1.3300; 1.3283
GBPUSD
Cable remains trades in near-term sideways mode, after pullback from 1.5961 high, found footstep at 1.5883, Fibonacci 38.2% of 1.5775/1.5961 upleg, with support being reinforced by 55DMA. Neutral tone prevails on hourly chart studies, while 4-hour indicators are descending from overbought territory that keeps risk of further reversal in play. Loss of 1.5883, would look for next supports at 1.5868/46, 50% and 61.8% retracement levels, with increased downside risk to be triggered in case 1.5800 and 1.5775 supports give way. Conversely, lift above near-term consolidation top at 1.5935, would open 1.5961 and focus psychological 1.6000. Overextended daily studies, however, see risk of stall ahead of 1.6000 hurdle.
Res: 1.5935; 1.5961; 1.6000; 1.6010
Sup: 1.5887; 1.5868, 1.5838; 1.5819
USDJPY
The pair holds neutral tone on hourly chart, as bounce from 98.44 low stays capped at 99.35, Tuesday’s high. with 99.00, now acting as immediate support. From the other side 4-hour studies are negative, with price action being capped by 55DMA that keeps the downside at risk. Failure to regain of 99.96, 13/09 lower top, would risk lower top formation and further weakness, with break below 98.44, to open way for further retracement of 96.80/100.60 ascend.
Res: 99.35; 99.52; 99.77; 99.96
Sup: 99.00; 98.63; 98.44; 98.25
AUDUSD
The Aussie maintains positive near-term tone, as the price holds in the upper part of 0.9392/0.9284 consolidation range, with studies on the lower timeframes being positively aligned. Resumption of larger uptrend from 0.8891 requires lift above 0.9400, with important resistance zone at 0.9300/50 and short-term congestion top, already being cracked on extension to 0.9392. Immediate support lies at 0.9335, while extension below 0.9284 higher low, would increase downside risk and signal possible false break above 0.9350.
Res: 0.9366; 0.9392; 0.9400; 0.9430
Sup: 0.9335; 0.9284; 0.9265; 0.9232