Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 78
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EURUSD
The Euro trades in extended consolidative phase under last week’s fresh high at 1.3567. Near-term price action moves in a sideways mode and being entrenched within 1.3500/50 range. Psychological 1.35 support, reinforced by ascending hourly 55DMA, keeps the downside protected for now, with hourly studies holding neutral tone. From the other side, extended 4-hour studies see risk of further consolidation, with double-Doji supporting such scenario. However, deeper pullback cannot be ruled out, as daily RSI is entering overbought territory. Immediate support lies at 1.3500, ahead of 1.3450, previous top and 50% retracement of 1.3337/1.3567 upleg. Increased downside risk would be seen in case of violation of 1.3400, Fibonacci 38.2% of 1.3103/1.3567 and 1.3340, higher platform and 50% retracement. Targets at 1.3600 and key 1.3710 peak, seen in extension, remain in near-term focus.
Res: 1.3567; 1.3600; 1.3658; 1.3710
Sup: 1.3500; 1.3479; 1.3450; 1.3425
GBPUSD
Cable’s corrective pullback from 1.6161, 18/09 fresh high, has stabilized at psychological / Fibonacci 61.8% of 1.5890/1.6161 ascend support, with near-term basing attempt being under way. Hourly studies are weak and require break above lower top at 1.6065 to confirm recovery, as 4-hour structure remains positive and keeps the upside favored. However, overbought daily studies require caution, as possible extension below 1.5900/1.5880 higher platform, would risk deeper pullback and open next target at 1.5800. Conversely, clearance of 1.6065 and regain of 1.6100 barrier, would shift near-term focus towards 1.6161 and signal possible resumption of larger uptrend towards 1.6200, next upside target.
Res: 1.6065; 1.6100; 1.6140; 1.6161
Sup: 1.6000; 1.5985; 1.5954; 1.5890
USDJPY
The near-term structure weakens after the pair failed to regain psychological 100 barrier on a strong bounce off 97.75. Pullback from 99.65, where the rally stalled, cracked 99.00 handle, also 38.2% of 97.75/99.65 upleg that increases downside risk, as 4-hour indicators are breaking in the negative territory. Further easing would look for test of 98.70/98.48, Fibonacci 50% / 61.8% of 97.75/99.65, and 98.22, trendline support, also the neckline of H&S pattern that is forming on a daily chart. Conversely, lift above 99.65 is required to neutralize.
Res: 99.16; 99.65; 99.96; 100.21
Sup: 98.70; 98.44; 98.22; 98.00
AUDUSD
The Aussie trades in near-term corrective mode, with price action coming under increased pressure, after extension of pullback from 0.9526 peak, dipped to 0.9365 so far. Hourly studies are still weak, however, quick recovery above 0.9400 handle, keeps the positive tone on the larger timeframes in play. Clearance of lower platform at 0.9455, is seen as minimum requirement to avert downside risk and shift focus towards 0.9500 and 0.9526 barriers. Otherwise, loss of 0.9365, session low and higher platform at 0.9340, would keep the downside vulnerable and risk stronger correction. Strong supports lay at 0.9283, Fibonacci 38.2% of 0.8891/0.9526 and 9222/00, higher platform / 50% retracement.
Res: 0.9455; 0.9483; 0.9500; 0.9526
Sup: 0.9365; 0.9340; 0.9300; 0.9283
EURUSD
The Euro continues to descend gradually, after losing 1.35 handle, with fresh weakness approaching strong 1.3450 support, 50% retracement of 1.3337/1.3567 upleg / previous top of 20/08. Negative hourly studies and 4-hour indicators breaking below the midlines, see scope for further correction towards next significant support zone at 1.3400/1.3390, former lower platform and double Fibonacci support. Key near-term support lies at 1.3330 higher platform and 50% retracement of 1.3103/1.3567. Larger picture outlook remains bullish and favors further upside, once near-term correction is completed.
Res: 1.3480; 1.3500; 1.3547; 1.3567
Sup: 1.3450; 1.3425; 1.3400; 1.3390
GBPUSD
Cable continues to trend lower and retraced 76.4% of post Fed 1.5883/1.6161 rally, on extension to 1.5950, so far, where 55 DMA contained dips . Negatively aligned near-term studies favor further corrective action and risk retest of strong 1.5900/1.5883 support area, higher platform / Fibonacci 38.2% of 1.5427/1.6161, violation of which would signal stronger reversal and mark near-term top at 1.6161. Daily RSI, emerging of overbought territory, supports the notion, while only regain of lower platform at 1.6070 would ease immediate bear pressure and re-focus 1.6100 and 1.6161 barriers.
Res: 1.6000; 1.6019; 1.6070; 1.6100
Sup: 1.5950; 1.5900; 1.5883; 1.5831
USDJPY
The pair remains heavy and extends weakness off 99.65 upside rejection, to 98.48, 61.8% retracement of 97.75/99.65 ascend so far. Prevailing negative tone keeps the downside at risk, with immediate focus being at 98.20, trendline support / 76.4% retracement and psychological 98.00 support, ahead of key near-term support at 97.75, 18/09 low. Break here to open way for possible full retracement of larger 96.80/100.60 upleg. Daily studies are losing momentum and seen supportive for such scenario. Initial resistance lies at 99.16, while only break above 99.65 would turn near-term structure positive.
Res: 99.00; 99.16; 99.65; 99.96
Sup: 98.46; 98.22; 98.00; 97.75
AUDUSD
The Aussie came under pressure again, following recovery attempt failure at 0.9455 and subsequent weakness that violated initial 0.9365 support. Near-term studies in negative territory, see risk of further downside, with immediate targets laying at 0.9300 and 0.9283, Fibonacci 38.2% of larger 0.8891/0.9526 ascend, below which to signal stronger correction and mark near-term top. From the other side, larger picture bulls remain intact and would keep further upside in play, as long as the price holds above 0.9200 support, higher platform and 50% retracement of 0.8891/0.9526 rally.
Res: 0.9412; 0.9455; 0.9483; 0.9500
Sup: 0.9340; 0.9300; 0.9283; 0.9222
EURUSD
The Euro regained levels above 1.35 handle after finding ground at 1.3460, just ahead of strong support at 1.3450, 20/08 previous high and 50% retracement of 1.3337/1.3567 rally. The price action moves towards the upper boundary of near-term range at 1.3550, with improved hourly structure and positive 4-hour studies, setting scope for possible fresh attack at key near-term barrier and peak at 1.3567. Break here to resume larger uptrend that commenced from 1.2754, with weekly close above 1.3567/1.3600 barriers, required to confirm bulls and open way towards short-term target at 1.3710, 01/02 annual high. To keep the structure intact, support at 1.3450 must hold dips. Previous resistance at 1.3500 offers immediate support that is reinforced by hourly Ichimoku cloud top.
Res: 1.3536; 1.3547; 1.3567; 1.3600
Sup: 1.3500; 1.3461; 1.3450; 1.3425
GBPUSD
Cable regained ground on a bounce to the levels close to 1.6100 barrier, after pullback from 1.6161 peak, found support at 1.5953, Fibonacci 76.4% retracement of 1.5890/1.6161 rally. Bulls on lower timeframes studies returned to play, with near-term focus being shifted towards the upside. Clearance of initial 1.6100 hurdle to open key resistance at 1.6161, 19/09 high and signal completion of near-term corrective phase, with break higher to resume 9-week uptrend from 1.4812, 09/07 low and open way towards key short-term barriers at 1.6300 and 1.6380. To keep freshly established bulls intact, corrective dips should be contained at /above 1.6020, 50% retracement of 1.5953/1.6086 upleg.
Res: 1.6086; 1.6100; 1.6140; 1.6161
Sup: 1.6065; 1.6035; 1.6020; 1.6000
USDJPY
The dollar recovered a good part of the recent fall from 99.65, on a bounce from 98.25, where the price found support. Regain of levels above psychological 99.00 barrier, marks 61.8% retracement of 99.65/98.25 descend, with hourly indicators moving into positive territory, seeing potential for further recovery. From the other side, weak 4-hour structure keeps the downside vulnerable, while lower top at 99.65 stays intact. Break here to confirm reversal and re-open psychological 100 barrier. Initial supports lay at 98.80 and 98.50, while slide below 98.25 would bring bears back in play.
Res: 99.10; 99.16; 99.65; 99.96
Sup: 98.80; 98.46; 98.25; 98.00
AUDUSD
The Aussie remains under pressure, as fresh extension lower fully retraced post-Fed rally from 0.9340. Negatively aligned near-term studies keep the downside at risk, with strong support zone at 0.9300, psychological support and 0.9280; higher low of 17/09 / Fibonacci 38.2% of 0.8891/0.9526 rally, coming in focus. Break lower to open next layers of support at 0.9250 and strong 0.9220/00 area, higher platform of 12/13 / 09 and 50% retracement, where any stronger pullback should be contained, to keep larger bulls intact. However, only regain of 0.9455 lower platform, would shift focus higher.
Res: 0.9412; 0.9455; 0.9483; 0.9500
Sup: 0.9337; 0.9300; 0.9280; 0.9222
EURUSD
The Euro erased last Friday’s gains, after rally stalled near 1.3567 peak and subsequent reversal dipped close to 1.3500 handle. Negative sentiment was confirmed by gap-lower opening, with price moving in the lower part of 1.3460/1.3567, one-week range. Hourly studies turned negative and keep the downside at risk, while 4-hour indicators are at the midlines. Bearish trigger will be seen on violation of strong 1.3460 / 50 support zone, where the range floor is reinforced by 55DMA and double Fibonacci, 23.6% retracement of 1.3103/1.3567 upleg and 50% of 1.3337/1.3567, as break here is expected to confirm double-top formation and open fresh leg lower towards 1.3400, round figure / 38.2% of 1.3103/1.3567 next. Conversely, bounce above 1.35 barrier, would avert immediate downside risk and signal continuation of sideways trading.
Res: 1.3505; 1.3522; 1.3536; 1.3563
Sup: 1.3476; 1.3461; 1.3450; 1.3425
GBPUSD
Cable remains firm, as fresh extension higher completed near-tern 1.6161/1.5953 corrective phase. The price posted marginally fresh high at 1.6179, with positively aligned near-term technicals being supportive for possible attack at psychological 1.6200 barrier. However, overbought conditions on lower timeframes studies, see corrective pullback preceding fresh rally, with initial support at 1.6130, Friday’s intraday high / 23.6% of 1.5953/1.6179, ahead of 1.6100, 38.2% retracement / 26/09 high / 55DMA, seen as ideal reversal point. Overbought daily studies, however, require caution.
Res: 1.6179; 1.6200; 1.6250; 1.6300
Sup: 1.6130; 1.6100; 1.6060; 1.6028
USDJPY
The pair remains under pressure, as repeated failures to clear 99.00 barrier and trendline resistance, extended bears through triangle support at 98.47and previous low at 97.75. The fall retraced 61.8% of 95.78/100.60 rally, keeping the downside in near-term focus. Negative near-term studies and gap-lower opening today, maintain the pressure, with daily indicators breaking into negative territory, supporting the notion. Next supports lay at 96.90 higher platform and Fibonacci 76.4% and 96.80, 28/08 low, while initial barriers lay at 98.00/30 zone.
Res: 98.00; 98.30; 98.50; 98.80
Sup: 97.62; 97.00; 96.90; 96.80
AUDUSD
The Aussie remains at the back foot, as the price continues to move lower, with psychological 0.9300 support being cracked on extension to 0.9280, Fibonacci 38.2% of 0.8891/0.9526. Prevailing negative tone on near-term studies keeps the downside at risk, with extension below strong 0.9220/00 support zone, higher platform / 50% retracement, to confirm near-term top and allow for further easing. Initial barriers lay at 0.9330 zone, while only regain of 0.9400 handle, would ease immediate bear pressure.
Res: 0.9330; 0.9373; 0.9400; 0.9455
Sup: 0.9280; 0.9222; 0.9200; 0.9134
EURUSD
The Euro regained strength after Monday’s weakness was contained above near-term consolidation floor and 55 DMA, with fresh gains above 1.35 handle, aiming towards the range’s upper boundary. Lower timeframes studies are positive and support final push through 1.3567 peak, for resumption of larger uptrend towards initial barrier at 1.3600 and key resistance and near-term target at 1.3710, 01/02 annual high. Initial supports lay at 1.3536 and 1.3517, while loss of 1.3500 would weaken the structure again.
Res: 1.3563; 1.3567; 1.3600; 1.3650
Sup: 1.3536; 1.3517; 1.3500; 1.3476
GBPUSD
Cable remains firm and continues to trend higher, as final push through 1.6179/1.6200 hurdles, resumes the larger uptrend from 1.4812, annual low. As the last obstacles en-route to short-term targets at 1.6308 and 1.6380 were cleared, likely scenario would be test of Apr/Sep 2012 highs at 1.6300/08 and 1.6380, 2012 high. Positive technicals support the notion, however, overbought conditions on lower timeframes, suggest corrective easing, with initial supports at 1.6200 and 1.6179/61, previous highs.
Res 1.6300; 1.6308; 1.6350; 1.6380
Sup: 1.6200; 1.6180; 1.6161; 1.6126
USDJPY
The pair remains under pressure, as recovery rally from fresh low at 97.48 was capped by bear-trendline at 97.70. Hourly studies are losing traction, with 4-hour technicals maintaining negative tone that sees increased risk of lower top formation and resumption of bear phase from 100.60, with slide below 97.48, required to confirm. Bearish continuation to focus 97.00 zone, higher platform / Fibonacci 76.4% of 95.78/100.60 and broken bear channel line, drawn off 101.52 peak. Any stronger recovery would require clear break above 99.00 barrier, to avert immediate downside risk.
Res: 98.00; 98.45; 98.71; 99.00
Sup: 97.62; 97.48; 97.00; 96.90
AUDUSD
The Aussie regains strength after repeated attempt lower was contained at 0.9280, Fibonacci 38.2% of 0.8891/0.9526 rally, where near-term base has been formed. Fresh rally above 0.9400 barrier, also 50% of 0.9526/0.9280 fall, turns near-term technicals positive and shifts focus higher. However, to confirm higher low formation, regain of lower top at 0.9455 is required. Overbought hourly studies see risk of corrective pullback, with dips to be ideally contained at 0.9350 zone.
Res: 0.9422; 0.9455; 0.9483; 0.9500
Sup: 0.9390; 0.9368; 0.9350; 0.9334
EURUSD
The Euro completed near-term consolidative phase and broke above range tops at 1.3567/79, to crack the next barrier at 1.3600, with fresh high being posted at 1.3622. The last significant hurdle on the way towards short-term target at 1.3710, 2013 high, has been dented that signal final push higher for completion of multi-month 1.3710/1.2744 corrective phase. Near-term technicals are positively aligned, however, caution is required, as overbought hourly conditions and formation of 4-hour RSI / MACD bearish divergence, would signal further hesitation at 1.36 zone. Initial support lies at 1.3576 higher low, ahead of 1.3550, 50% of 1.3476/1.3622 upleg and pivotal 1.3500 support, higher platform and 4-hour Ichimoku cloud top, loss of which would be bearish. Alternatively, close above 1.36 handle, is required to confirm bullish resumption.
Res: 1.3622; 1.3658; 1.3700; 1.3710
Sup: 1.3576; 1.3550; 1.3532; 1.3500
GBPUSD
Cable trades in a near-term consolidative mode, after renewed attempt higher stalled on approach to the fresh high at 1.6259, posted on 01/10. Overall bulls, however, remain intact and keep focus at short-term targets at 1.63 zone and 2013 high at 1.6380, posted on 02/01. Further consolidation is not ruled out, as near-term indicators are in descending mode, with higher low at 1.6160, expected to hold. Otherwise, break lower would signal stronger corrective action, with overbought daily studies supporting the notion.
Res 1.6239; 1.6250; 1.6259; 1.6300
Sup: 1.6200; 1.6160; 1.6126; 1.6100
USDJPY
The pair remains pressured, as fresh extension of near-term downleg from 100.60, broke below bull trendline off 93.78, 13/06 low, approaching psychological 97.00 level, ahead of more significant 96.80, 28/08 higher low. With near-term indicators holding in the negative territory, further easing is seen favored, with break below 96.80, also near 76.4% retracement of 95.78/100.60 ascend, expected to open 96.55, 200DMA and key 95.78 support, 08/08 low. Corrective rallies may precede fresh weakness, with initial resistances laying at 98.00/28 and rallies seen limited under 98.71, 01/10 lower top.
Res: 98.00; 98.28; 98.71; 99.00
Sup: 97.13; 97.00; 96.80; 96.55
AUDUSD
The pair holds positive near-term tone off 0.9280 base, as pullback from recovery top at 0.9434, found footstep at 0.9332. The rally cracked psychological 0.9400 barrier, with clear break here and 0.9434, required to confirm higher low formation and allow for further recovery. Conversely, rejection under 0.9432, would keep the downside vulnerable and signal prolonged consolidation, as long as 0.9280 support holds.
Res: 0.9400; 0.9409; 0.9434; 0.9455
Sup: 0.9365; 0.9332; 0.9300; 0.9280
EURUSD
The Euro remains in near-term corrective mode, off fresh high at 1.3645, with weekly close at 1.3550, where 4-hour 55DMA / Fibonacci 61.8% of 1.3476/1.3645 contained pullback. Positive structure on 4-hour chart, along with weekly gap-higher opening, holds the overall positive sentiment, however, week hourly studies keep the downside at risk. Extension below session lows at 1.3560 and Last Friday’s low at 1.3537, is expected to increase downside pressure towards 1.3500 higher low and pivotal 1.3460 platform. Conversely, lift above 1.3600 barrier, is required to bring bulls in play for retest of 1.3645 and final push towards short-term target at 1.3710.
Res: 1.3578; 1.3600; 1.3630; 1.3645
Sup: 1.3560; 1.3537; 1.3500; 1.3460
GBPUSD
Cable slumped on Friday and fully retraced 1.5998/1.6259 bull-leg, with psychological 1.6000 support offering temporary support, as near-term studies entered oversold territory. Bears remain fully in play and keep the downside at increased risk, with break below 1.6000 handle expected to open higher platform at 1.5940, also 38.2% retracement of 1.5427/1.6259 rally. Loss of the latter to confirm near-term top at 1.6259 and allow for stronger corrective action that would put larger bulls on hold. Initial resistances lay at 1.6076 and 1.6100, while regain of 1.6150/77 hurdles is required to neutralize immediate bears.
Res 1.6076; 1.6100; 1.6133; 1.6150
Sup: 1.6005; 1.5980; 1.5941; 1.5900
USDJPY
The pair remains under pressure, with near-term consolidation near fresh lows at 97.00 zone, being under way. Negative tone prevails on lower timeframes studies that keep focus at key near-term support at 96.80, loss of which to complete 96.80/100.60 bull-phase and open way for full retracement of larger 95.78/100.60 ascend. Corrective rallies should be ideally capped at 98.00 zone, while only regain of 99.00 barrier, would avert downside risk.
Res: 97.47; 97.86; 98.00; 98.28
Sup: 96.92; 96.80; 96.55; 96.00
AUDUSD
Near-term structure remains positive, as rally from 0.9280 base retraced nearly 76.4% of 0.9526/0.9280 descend, on extension to 0.9457, pivotal point. Consolidative action is expected to precede fresh rally, with 0.9350 zone, 61.8% of 0.9280/0.9457, seen as ideal reversal point, to keep near-term bulls intact. Clearance of 0.9457 is required to open key barrier at 0.9526, 18/09 peak. Alternatively, slide below 0.9350 would open higher platform at 0.9332 and weaken near-term structure, with increased downside risk seen on violation of 0.9300/0.9280 supports.
Res: 0.9425; 0.9457; 0.9500; 0.9526
Sup: 0.9389; 0.9368; 0.9350; 0.9332
EURUSD
The Euro consolidates within 1.3540/90 range, after pullback from 1.3645 peak found support at 1.3540, Fibonacci 61.8% retracement of 1.3476/1.3645 upleg. Hourly studies are weak, while 4-hour RSI holds in the neutral area; MACD just above the midline and loss of momentum maintains the downside risk. However, the downside is for now protected by ascending 55DMA, currently at 1.3543 that makes initial support, ahead of range floor at 1.3540, while sideways-moving 20DMA at 1.3572 limits upside attempts, ahead of range top at 1.3590. Break of either side to define near-term direction, with 4-hour bearish divergence, seeing more downside risk. Bearish resumption requires break below 1.3540/00 supports to open way for further correction, while alternative scenario sees break above 1.3600 barrier, needed to neutralize near-term bears.
Res: 1.3590; 1.3600; 1.3630; 1.3645
Sup: 1.3555; 1.3537; 1.3500; 1.3460
GBPUSD
Cable corrects recent losses that found support at important 1.6000 zone, with rally being so far capped at 1.61 zone, also Fibonacci 38.2% retracement of 1.6259/1.6005 decline. Slightly improved hourly studies still lack momentum for further recovery, as bears dominate on 4-hour studies and price action being limited by 20/55DMA’s bearish crossover. Downside risk remains in play and sees potential for further corrective easing, with slide below 1.6000 handle, expected to open next supports at 1.5940, 24/09 higher low and Fibonacci 38.2% of 1.5427/1.6259 rally and psychological 1.5900 support. Break here to signal near-term top at 1.6259 and allow for deeper pullback of larger 1.4812/1.6259 rally that would also put aside near-term targets at 1.6300/80. Regain of 1.6180/1.6200 barriers is required sideline downside risk and signal higher low formation.
Res 1.6100; 1.6133; 1.6162; 1.6199
Sup: 1.6060; 1.6024; 1.6005; 1.5980
USDJPY
The greenback remains at the back foot against the yen, as confirmed break below 97.00/96.80 supports, heads towards the next significant level at 95.78, 08/08 low. The price action cracked 200DMA at 96.70, with losses being so far contained by broken bear-trendline and previous channel resistance, drawn off 101.52 peak. Corrective bounce above 97.00 barrier, triggered by oversold near-term studies, should not have stronger impact, as structure remains negative and keeps the downside favored. Immediate barriers lay at 95.47, and 4-hour 55DMA at 97.70, with rallies to be ideally capped at 98.00/50 zone, to maintain negative sentiment.
Res: 97.21; 97.47; 97.70; 98.00
Sup: 96.55; 96.00; 95.90; 95.78
AUDUSD
Near-term focus shifts higher, as the price extends rally from 0.9280 near-term base and approaches pivotal 0.9455 barrier, on a renewed attack. With hourly studies moving out of neutral mode and 4-hour indicators, being in positive territory, near-term scenario favors further bulls and eventual attempt at key barrier at 0.9526, 18/09 peak. However, clearance of 0.9455, is seen as initial requirement. Otherwise, prolonged consolidation above 0.9280, would the likely scenario.
Res: 0.9457; 0.9500; 0.9526; 0.9550
Sup: 0.9410; 0.9389; 0.9368; 0.9350
EURUSD
The Euro fell to the near-term range floor at 1.3540 zone, reinforced by 4-hour Ichimoku cloud top, after repeated failure at 1.3600 barrier triggered quick pullback. Having cracked 4-hour 55DMA that so far protected the downside, the pair risks further easing, as hourly studies are negatively aligned and 4-hour indicators breaking into negative territory. The initial trigger will be loss of 1.3540 that would open way towards 1.3500 and more significant 1.3460 higher platform, below which to confirm reversal and near-term top at 1.3645. Alternatively, holding above 1.3540, would signal prolonged sideways movements, with only break above 1.3600, required to shift near-term focus higher and re-expose key 1.3645 peak.
Res: 1.3562; 1.3583; 1.3600; 1.3630
Sup: 1.3544; 1.3537; 1.3500; 1.3460
GBPUSD
Cable’s near-term recovery attempt off 1.6005 low failed of repeated attack at 1.6123, yesterday’s high and immediate reversal brought the price the mid–point zone of entire 1.6005/1.6123 rally. With hourly indicators sliding below the midlines, as price action establishes below hourly 20/55DMA’s bearish crossover, as well as negative 4-hour structure, immediate risk is seen on renewed attempt at 1.6000 base. Break here to confirm formation of the double-top at 1.6123/21 and the third wave of the downmove from 1.6259 that could extend to 1.5955, 24/09 higher low and Fibonacci 61.8% expansion. Alternative scenario requires clearance of 1.6121/23 peaks, as well as 50% retracement of 1.6259/1.6005 descend at 1.6132, to ease immediate bear-pressure and allow for further recovery.
Res 1.6085; 1.6100; 1.6123; 1.6132
Sup: 1.6024; 1.6005; 1.5980; 1.5955
USDJPY
The pair trades in near-term corrective mode off fresh low at 96.55, where broken bear-trendline from 101.52 and previous channel resistance, contained losses for now. The price action regained important 97.47 lower high of 04/10, extending the upleg from 96.81, where higher low was left. Positive hourly structure supports further correction, with dips expected to hold above 97.00, 20/55 bullish crossover, to maintain positive sentiment. Clear break above 97.47 to confirm near-term base and open way towards next significant barriers at 97.86, 03/10 lower top and 98.10, 50% retracement of 99.65/96.55 downleg. Conversely, failure to sustain break above 97.47, would keep the downside at risk, as larger picture bears remain in play and eye full retracement of 97.58/101.52 rally.
Res: 97.47; 97.86; 98.10; 98.28
Sup: 97.10; 96.81; 96.55; 96.00
AUDUSD
Near-term focus shifts higher, as the price extends rally from 0.9280 near-term base and breaks above pivotal 0.9455 barrier. Pullback from fresh high at 0.9483, could be seen as corrective, despite weakened hourly studies, as the fall was contained at 0.9410 base, reinforced by 55DMA and 50% retracement of 0.9526/0.9280 descend. Fresh attempt higher is supported by positive 4-hour studies, with break above 0.9483 and psychological 0.9500 hurdles, to open way for final push towards key 0.9526 barrier and possibly resume larger recovery rally from 0.8891. Conversely, loss of 0.9400 support, would weaken the near-term structure.
Res: 0.9454; 0.9483; 0.9500; 0.9526
Sup: 0.9410; 0.9389; 0.9368; 0.9350
EURUSD
The Euro remains at the back foot, as break below initial 1.3540 support, triggered fresh acceleration that fully retraced 1.3500/1.3645 upleg. Break below 1.3500 support, focuses strong support zone at 1.3460/40, higher platform / previous peak of 20/08 and Fibonacci 38.2% retracement of 1.3103/1.3645 rally. Negative near-term technicals favor the scenario, with consolidative action on oversold hourly studies, expected to precede fresh weakness. Any stronger rally should stay capped under 1.3545/65, Fibonacci 38.2% and 50% of 1.3645/1.3484 downleg, to keep freshly established bears in play.
Res: 1.3525; 1.3545; 1.3565; 1.3583
Sup: 1.3484; 1.3460; 1.3440; 1.3400
GBPUSD
Cable came under increased pressure yesterday, with fresh bearish acceleration extending reversal from 1.6259 peak below 1.6000 handle and approaching the next support at 1.5900. The third wave that commenced from 1.6123 lower top, could travel to 1.5871/57, main bull trendline off 1.4812 and 100% Fibonacci expansion, with negative near-term studies supporting the notion. Bears may be interrupted by consolidative action, as hourly and 4-hour studies are oversold, with 1.6000, previous support, now offering solid resistance.
Res 1.5965; 1.6000; 1.6041; 1.6081
Sup: 1.5912; 1.5900; 1.5871; 1.5857
USDJPY
The pair extends near-term correction through initial barrier at 97.47 and Fibonacci 38.2% of 99.65/96.55 descend, approaching initial barriers at 98.00/10, psychological resistance / 50% retracement. Positively aligned near-term studies support further advance, however, overbought hourlies may delay rally. Clear break above 98.00 resistance zone is required to confirm freshly established uptrend and near-term base at 96.55, for stronger recovery towards next significant barrier at 99.00. Corrective dips should be contained above higher low at 97.11, to maintain bulls.
Res: 97.81; 98.00; 98.10; 98.28
Sup: 97.45; 97.11; 96.81; 96.55
AUDUSD
The pair came under pressure, as recovery attempt off 0.9280 failed to sustain break above 0.9455 barrier, with extension higher stalling at 0.9483 and subsequent pullback probing levels below 0.9400 support. Hourly studies turned negative, while 4-hour indicators are heading south that keeps the downside at risk, as the pullback retraced nearly 50% of 0.9280/0.9483 rally. Further easing would signal prolonged consolidation under 0.9526 high, as the price holds within 0.9280/0.9500 range. However, positive daily studies keep the upside in focus, with price action required to hold above key near-term support at 0.9280.
Res: 0.9422; 0.9471; 0.9483; 0.9500
Sup: 0.9388; 0.9358; 0.9332; 0.9300