Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 88
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EURUSD
The Euro’s near term price action is at the back foot after recovery attempt stalled at 1.3649, where 55SMA capped and fresh easing re-tested levels below 1.36 handle, with consolidation under way. Negative near term tone keeps the downside at risk, despite 1.3585 low so far proving as solid support. To avert immediate bearish risk, break above 1.3649 high is required to signal hourly double-bottom formation and trigger stronger recovery towards the next pivot at 1.3667 and possibly retest of key 1.3730 resistance and breakpoint, above which to bring bulls fully in play. Otherwise, 1.3561, 12 Feb low and 1.3519, Fibonacci 38.2% of larger 1.2754.1.3992 rally, would remain as near-term targets, once the price loses 1.3585 temporary base.
Res: 1.3635; 1.3649; 1.3667; 1.3687
Sup: 1.3585; 1.3561; 1.3519; 1.3500
GBPUSD
Cable remains under pressure, with near-term price action in consolidative mode, after corrective attempt off fresh low at 1.6691, ran out of steam at 1.6776, Fibonacci 38.2% retracement of 1.6880/1.6691 descend, reinforced by 55SMA. Failure to break here and psychological 1.6800 barrier, which would open bear-trendline resistance at 1.6850, would fail to complete Morning Star pattern formation and risk fresh weakness as hourly studies are neutral , while larger timeframes studies maintain negative tone. Push below 1.6691 to confirm bearish resumption and open 1.6667, Fibonacci 61.8% / 100SMA next and psychological 1.66 support in extension.
Res: 1.6760; 1.6776; 1.6800; 1.6835
Sup: 1.6723; 1.6703; 1.6691; 1.6667
USDJPY
The pair eventually broke above 102.13 and 102.35 barriers, on a fresh strength that so far tested 76.4% retracement of 103.01/100.81 descend at 102.46. This opens way for final push towards the next pivot at 103 zone, also short-term range top. However, corrective action is likely to precede fresh attempts higher as near-term studies are overbought. Ideal support lies at 102 zone, Fibonacci 38.2% retracement of 101.41/102.46 rally, reinforced by 55SMA and should contain corrective dips. Otherwise, weakness below here and yesterday’s low/ daily 20Sma at 101.74, will be bearish.
Res: 102.49; 102.78; 103.01; 103.75
Sup: 102.13; 102.00; 101.74; 101.41
AUDUSD
The pair came under pressure and fell to 0.9228, ahead of corrective bounce. However, near-term structure remains weak and would risk fresh weakness and return to 0.92 base, once corrective phase is over. To maintain negative scenario, lower to should be left under 0.9291, Fibonacci 61.8% of 0.9330/0.9228 descend and psychological 0.93 barrier. Break below 0.92 handle to open 0.9179, 200SMA and 0.9154, daily cloud base in extension. Conversely regain of 0.93 barrier would delay, while rally through 0.9330 is required to provide relief and signal an extension of corrective phase off 0.92 base.
Res: 0.9279; 0.9291; 0.9312; 0.9330
Sup: 0.9259; 0.9228; 0.9207; 0.9177
EURUSD
The Euro is directionless in the near-term, with price action moving within 1.3585/1.3650 range, consolidating bear-leg from 1.3992, 08 May peak. Overall tone remains negative and sees further downside favored, while neutral near-term studies maintain current sideways mode. Immediate support and range floor lies at 1.3585, loss of which to open fresh weakness and expose targets at 1.3561, 12 Feb low and 1.3519, Fibonacci 38.2% of 1.2754.1.3992 rally. On the upside, 200SMA reinforces range ceiling, with clear break here required to establish an upside direction towards psychological 1.37 barrier and breakpoint at 1.3733 lower base / 100SMA.
Res: 1.3650; 1.3667; 1.3700; 1.3733
Sup: 1.3585; 1.3561; 1.3519; 1.3500
GBPUSD
Cable remains under pressure, with near-term recovery action being limited at 1.6780 zone by descending 55 SMA and unable to regain 1.68 handle. Failure to break here, triggers fresh weakness and re-focuses near-term base at 1.6700/1.6680 zone, fresh lows and daily cloud base, below which to resume larger descend from 1.6995 peak and expose 1.6667, Fibonacci 61.8% of 1.6464/1.6995/ 100SMA next and psychological 1.66 support in extension. Only sustain break above 1.68 handle would revive bulls for attempt at bear-trendline resistance at 1.6850.
Res: 1.6723; 1.6780; 1.6800; 1.6835
Sup: 1.6703; 1.6691; 1.6667; 1.6600
USDJPY
The pair remains supported and heads higher after break above 102.13 and 102.35 barriers, on a fresh strength towards the next target and pivotal barrier at 103 zone. Corrective action is likely to precede fresh attempts higher as near-term studies are overbought. Ideal support lies at 102.25 zone, Fibonacci 38.2% retracement of 101.41/102.46 rally / higher platform and should ideally contain corrective dips. Further easing below here and 102 handle, would sideline near-term bulls and put aside fresh attempts above 103 barrier.
Res: 102.78; 103.01; 103.75; 104.11
Sup: 102.47; 102.26; 102.10; 101.93
AUDUSD
The pair came recovered some looses on a fall to 0.9228, however, remains under pressure, as studies are weak on all timeframes. Failure to extend above recent congestion top at 0.93 zone, would keep the downside at risk of fresh attempt at strong 0.92 base and further weakness on a break here. Conversely, lift above 0.93 barrier to confirm higher low at 0.9228 for fresh attempt higher and test of the next breakpoint at 0.9330, 30 May high.
Res: 0.9279; 0.9296; 0.9312; 0.9330
Sup: 0.9243; 0.9228; 0.9207; 0.9177
EUR/USD
Trading in a side way action since end of May until today, the EURUSD found support at 1.3585 and resistance at 1.3650. It seems like this side way action will come to an end during today and maybe tomorrow as we are expecting major fundamental news that should change the view. A break below 1.3585 would open 1.3555 (12 Feb low) and next 1.3475 (2014 year low). On the other hand, above 1.3650 would open 1.3670 (27 May high) and 1.3690 next. Midterm resistance is found at 1.3730
Res: 1.3650, 1.3670, 1.3690, 1.3730
Sup: 1.3585, 1.3555, 1.3520, 1.3475
GBP/USD
Same sideway action for Sterling since the 28th of May has been dominating the view between 1.6780 and 1.6695. Incase 1.6695 is broken, support is found at 1.6680 (peak of 31st April) and 1.6655 (low of 15th April) where a break there would open further acceleration below 1.6500 zone. A small support is found at 1.6733 (a 50% Fibonacci retracement of yesterday’s rise). On the other hand, above 1.6780 (A 38.2% Fibonacci of 1.6920-1.6695 drop) would open 1.6815 and 1.6880-1.6920 (peaks of 21-22 May).
Res: 1.6750, 1.6770, 1.6795, 1.6820
Sup: 1.6733, 1.6695, 1.6680, 1.6655
USD/JPY
After finding resistance at 102.80, the pair managed to find support at 102.45 zone during the past couple of days, as being still in an uptrend, if 102.80 was broken targets will be found at 103.00 (2nd May high) and 104.05 next (4th April high). On the lower side, and as mentioned first support is found at 102.45 and next 102.25 (couple of days low and 38.2% Fibonacci of 101.40-102.80 rise, and finally 102.05.
Res: 102.80, 103.00, 104.05, 104.80
Sup: 102.45, 102.25, 102.05, 101.40
GOLD
Spot Gold found support at 1240 zone after a drop from 1295 zone during last week, resistance is found at 1252, 1260 and 1267 next. On the other hand, if the downtrend is maintained, targets will be found at 1238 (30th Jan low), 1231 (23nd Jan low).
Res: 1252, 1260, 1267, 1280
Sup: 1240, 1238, 1231, 1216
EURUSD
The Euro’s recovery attempts off fresh low at 1.3502 remain limited under 1.37 resistance zone, Fibonacci 38.2% retracement of entire 1.3992/1.3502 descend. This keeps the first break point at 1.3730 lower platform intact for now, as overall picture stays bearish. Weaker near-term studies shift focus lower again, as the price returns to the previous base at 1.36 zone and reversal pattern forming on a daily chart, along with 20/200SMA death-cross, maintaining downside pressure. Daily close below 1.36 handle is required to confirm negative stance for repeated attack at 1.3500/1.3475 breakpoints, loss of which to confirm double-top formation and trigger stronger correction of one-year uptrend from 1.20 zone.
Res: 1.3676; 1.3700; 1.3733; 1.3750
Sup: 1.3580; 1.3561; 1.3502; 1.3475
GBPUSD
Cable consolidates recent gains on a recovery rally from 1.6691, trading in a sideways mode under fresh high at 1.6844. As the downside stays protected at 1.6770 zone, also 20/55SMA bull-cross and near-term studies are positively aligned, renewed attempts higher should be favored in the near-term. Break above 1.6844 high to resume recovery and open 1.6880 lower top, ahead of key hurdles at 1.6917/19. However, clearance of main bear-trendline at 1.6830 zone, is seen as minimum requirement to signal bullish resumption.
Res: 1.6830; 1.6844; 1.6880; 1.6900
Sup: 1.6782; 1.6767; 1.6749; 1.6725
USDJPY
Near-term price action is losing ground as the pullback off fresh high at 102.78 extends lower and threatens key near-term support and pivotal point at 102.10. Hourly studies turned negative, while 4-hour indicators are at their midlines. Weakness below 102.10/00 supports, also 50% retracement of 101.41/102.78 upleg , to confirm reversal and allow for stronger correction. On the other side, overall bullish tone, keeps the upside favored, with 102 zone seen as ideal reversal point for fresh attempt at key 103 barrier and resumption of larger up-move from 100.81, 201 May low.
Res: 102.63; 102.78; 103.01; 103.75
Sup: 102.25; 102.10; 101.79; 101.41
AUDUSD
The pair's near-term structure remains positive, with the price action heading towards 0.94 barrier, on a rally from 0.92 base. Extension above the next impotent barrier at 0.9407, is required to confirm reversal and base formation at 0.92 zone, for eventual push to the key 0.9460 peak. Hesitation on approach to 0.9407 could not be ruled out, with 0.93 support area, seen as ideal reversal point, before fresh attempt higher.
Res: 0.9374; 0.9407; 0.9460; 0.9500
Sup: 0.9350; 0.9333; 0.9318; 0.9300
EURUSD
The Euro remains pressured and returns to 1.35 zone after recovery attempts off fresh low at 1.3502 stalled on approach to 1.37 resistance zone, Fibonacci 38.2% retracement of1.3992/1.3502 descend. This keeps the first break point at 1.3730 lower platform intact for now, as overall picture stays bearish. Weak near-term studies keep focus at the downside, as 20/200SMA death-cross, maintaining downside pressure. Continuation of bear-trend is seen on a break below 1.35 handle and 1.3475 higher low and pivotal support, as break lower will confirm double-top formation and trigger stronger correction of the uptrend from 1.20 zone. However, further consolidation above 1.35 support could be expected as near-term studies approach oversold territory.
Res: 1.3556; 1.3600; 1.3620; 1.3667
Sup: 1.3502; 1.3475; 1.3450; 1.3400
GBPUSD
Cable corrects recent gains on a recovery rally from 1.6691, with weakening near-term tone, seen on easing from fresh high at 1.6844, as recovery attempts were capped by main bear-trendline and the pullback extended below 61.8% retracement of 1.6697/1.6844 ascend. Further easing would threaten 1.67 base, with break here to signal extension on larger downmove off 1.6995 peak and open targets at 1.6666, Fibonacci 61.8% retracement and psychological 1.66 support in extension. The upside so far stays protected at 1.6820, trendline resistance and only penetration here and lower top at 1.6844, would sideline downside risk.
Res: 1.6779; 1.6800; 1.6820; 1.6844
Sup: 1.6736; 1.6700; 1.6666; 1.6600
USDJPY
Near-term price action is losing ground as the pullback off fresh high at 102.78 extends lower and threatens for retest of key near-term support and pivotal point at 102.10. Hourly studies turned negative, while 4-hour indicators are breaking in the negative zone. Weakness below 102.10/00 supports, also 50% retracement of 101.41/102.78 upleg , to confirm reversal and allow for stronger correction. On the other side, overall bullish tone, keeps the upside favored, with 102 zone seen as ideal reversal point for fresh attempt at key 103 barrier and resumption of larger up-move from 100.81, 201 May low.
Res: 102.41; 102.63; 102.78; 103.01
Sup: 102.25; 102.10; 101.79; 101.41
AUDUSD
The pair's near-term structure remains positive, with the price action approaching 0.94 barrier, on a rally from 0.92 base. Extension above the next significant barrier at 0.9407, 14 May peak, is required to confirm reversal and base formation at 0.92 zone, for eventual push to the key 0.9460 peak. Hesitation on approach to 0.9407 barrier cannot be ruled out, with corrective easing to be contained above 0.93 support area, before fresh attempt higher.
Res: 0.9388; 0.9407; 0.9460; 0.9500
Sup: 0.9362; 0.9330; 0.9318; 0.9300
EURUSD
The Euro remains in near-term consolidative phase above 1.35 support, after previous week’s recovery attempts were capped by falling 55SMA. Weekly close occurred at the lower levels of 1.3511/1.3577 range and keep the near-term structure weak for resumption of larger downtrend from 1.3992 08 May peak. Negative daily studies support the notion, however, overextended conditions may trigger extended consolidation, ahead of fresh leg lower. Break below 1.35 handle to open way for attack at the next significant support at 1.3475, 03 Feb higher low / main bull-trendline off 1.2042 low, loss of which to complete 1.3475/1.3992 bull-leg and confirm double-top formation for fresh acceleration lower and further retracement. Recovery peak and 38.2% of 1.3676/1.3511 at 1.3577, offers initial resistance, along with 1.3585 lower base, reinforced by daily Tenkan-sen line, break of which would put bears on hold in favor of stronger recovery. Key near-term barrier lies at 1.3676, 06 June lower high and 38.2% of 1.3992/1.3502, break above which is required to confirm base and trigger further recovery.
Res: 1.3577; 1.3600; 1.3645; 1.3667
Sup: 1.3520; 1.3511; 1.3502; 1.3475
GBPUSD
Cable remains supported and eventually cracked 1.7000 barrier, following acceleration off 1.6736 higher low. Overall positive picture favors fresh phase higher, once the pair clearly breaks 1.70 barrier, with immediate target at 1.7041, Aug 2009 peak. However, consolidative action around 1.70 handle is expected to precede fresh bulls, as condition on 4-hour chart are overbought. Previous peaks at 1.6917/19, along with psychological/ Fibonacci 38.2% retracement 1.69 support, are seen as ideal points to contain corrective dips.
Res: 1.7009; 1.7041; 1.7100; 1.7150
Sup: 1.6941; 1.6919; 1.6900; 1.6844
USDJPY
Near-term price action has lost ground and extended pullback off fresh high at 102.78 below pivotal 102.10/00 support zone, to find temporary support at 101.59, near Fibonacci 61.8% of 100.81/102.78 upleg and 200SMA. This confirms negative near-term structure and keeps the downside in near-term focus, as brief corrective attempt off 101.59 low was capped by descending 55SMA. False break through 102 handle and return to the levels close to 101.59 low, keep near-term focus At the downside. However, larger picture still holds bullish tone is and while dips stay contained above 101.50/41, 200SMA / 29 May higher low, scope will exist for fresh attempts higher. Regain and daily close above 102 handle is seen as minimum requirement for bullish scenario. Otherwise, slide to short-term range floor at 100.81/74, would be expected in case of fresh weakness below 101.59/41 supports.
Res: 102.12; 102.41; 102.63; 102.78
Sup: 101.70; 101.59; 101.41; 101.20
AUDUSD
The pair holds positive near-term structure, as the price underwent consolidative action which was supported at 0.9373, with fresh attempt through 0.94 barrier under way. Eventual push towards the key 0.9460 peak is seen as likely near-term scenario, with break higher to complete short-term corrective phase off 0.9460 and resume larger uptrend off 0.8658, annual low. However, further consolidative action is not ruled out and should be ideally contained above 0.9330/20 support area, 30 May previous peak / 50% retracement of 0.9209/0.9437 upleg.
Res: 0.9437; 0.9460; 0.9500; 0.9550
Sup: 0.9373; 0.9349; 0.9330; 0.9320
EURUSD
The Euro continues to move in consolidative mode above fresh lows at1.35 zone, with near-term structure showing slight improvement, as fresh strength tested the first layer of resistances at 1.3577/85, 38.2% of 1.3676/1.3511 / former lower base / daily Tenkan-sen line. Improved near-term conditions still require sustained break and daily close above 1.36 barrier to exit the current range and signal stronger rebound towards 1.3676/88, 06 June lower top / 38.2% retracement of 1.3992/1.3501 descend, level that marks the first breakpoint. Otherwise, further sideways movements would be expected in case the price action stays capped under 1.36 handle, with downside risk to remain in play as overall picture is bearish. Loss of 1.35 base to open the downside break point at 1.3475, 03 Feb higher low / main bull-trendline off 1.2042 low.
Res: 1.3587; 1.3600; 1.3645; 1.3676
Sup: 1.3555; 1.3529; 1.3511; 1.3501
GBPUSD
Cable remains supported and consolidates within narrow range, recent strength which eventually cracked 1.7000 barrier, on acceleration from 1.6736 higher low. Overall positive picture favors fresh phase higher, once the pair clearly breaks 1.70 barrier, with immediate target at 1.7041, Aug 2009 peak. However, extended consolidative action under 1.70 handle is seen likely near-term scenario, as condition on 4-hour chart are overbought. Previous peaks at 1.6917/19, along with psychological/ Fibonacci 38.2% retracement 1.69 support, are seen as ideal points to contain corrective dips.
Res: 1.7009; 1.7041; 1.7100; 1.7150
Sup: 1.6950; 1.6919; 1.6900; 1.6844
USDJPY
Near-term price action extended pullback off fresh high at 102.78 below pivotal 102.10/00 support zone, to find temporary support at 101.59, near Fibonacci 61.8% of 100.81/102.78 upleg and 200SMA. Triangular consolidation is under way, with hourly studies improving but 4-hour picture still holding negative tone. Unless the price clears 112.12, current consolidation tops, which would allow for stronger bounce, risk of re-visiting 101.59/41 low and extension towards 101.00 and 101.81/74, would remain in play.
Res: 102.12; 102.41; 102.63; 102.78
Sup: 101.70; 101.59; 101.41; 101.20
AUDUSD
The pair lost traction and fell to 0.9349, previous low / Fibonacci 38.2% retracement of 0.09209/0.9437, after forming hourly Head and Shoulders pattern. This could be signal of more significant reversal in case the price slides below 0.9349 and attempts below 0.9313, daily cloud top psychological 0.930 support. Negative hourlies and 4-hour indicators attempting below the midlines, support such scenario. However, bullish daily tools see the action limited so far, as larger picture shows the price action entrenched within broader 0.9200/0.9437 range and still holding near-the upper range’s boundary.
Res: 0.9400; 0.9437; 0.9460; 0.9500
Sup: 0.9349; 0.9323; 0.9300; 0.9261
EURUSD
The Euro trades in extended consolidative mode above fresh lows at1.35 zone, with near-term price action being capped under psychological 1.36 barrier. Repeated recovery failure and subsequent quick reversal, keep the price firmly within the range, with weak near-term studies holding downside pressure in play, as larger picture is also bearish. Since no significant changes happened in past few sessions, break of either side of the range is required to open fresh direction. Break below1.35 base to open the break point at 1.3475, 03 Feb higher low / main bull-trendline off 1.2042 low and trigger further extension of downmove from 1.3992. Conversely, sustained break and daily close above 1.36 barrier to break out of the current range and signal stronger rebound towards 1.3676/88, 06 June lower top / 38.2% retracement of 1.3992/1.3501 descend.
Res: 1.3549; 1.3587; 1.3600; 1.3645
Sup: 1.3534; 1.3511; 1.3501; 1.3475
GBPUSD
Cable maintain overall positive tone after denting psychological 1.70 barrier and consolidates within narrow range. Positive studies favor fresh phase higher, once the pair clearly breaks 1.70 barrier, with immediate target at 1.7041, Aug 2009 peak. However, extended consolidative action under 1.70 handle is seen as likely near-term scenario, as condition on 4-hour chart are overbought. Previous peaks at 1.6917/19, along with psychological/ Fibonacci 38.2% retracement 1.69 support, are seen as ideal points to contain corrective dips.
Res: 1.6987; 1.7009; 1.7041; 1.7100; 1.7150
Sup: 1.6936; 1.6919; 1.6900; 1.6844
USDJPY
The pair returned to strength and rallied off 101.59 low, breaking above near-term consolidation and testing levels above 102 barrier. As recovery attempt retraced nearly 61.8% of 102.78/101.59 descend, further upside is favored in the near-term. Studies on 4-hour chart broke into positive territory and support the action, which could be delayed by pullback on overbought hourly conditions, with easing to be contained at 102 zone. Fresh strength through 102.32, Fibonacci 61.8% and 102.65, daily cloud top, to confirm bullish resumption and expose key near-term barrier at 102.78, 04 June peak.
Res: 102.30; 102.41; 102.63; 102.78
Sup: 102.10; 102.00; 101.86; 101.70
AUDUSD
The pair remains under pressure after yesterday’s acceleration lower extended and posted new low at 0.9325, where the price entered near-term consolidative phase at 50% retracement of 0.9209/0.9437 ascend and daily Kijun-sen line support. Overall negative near-term picture sees the downside favored, with loss of psychological / Fibonacci 61.8% support at 0.93, required to confirm bearish stance and near-term top at 0.9437. Alternatively, bounce above 0.9364/68, yesterday’s lower top and Fibonacci 38.2% of 0.9437/0.9325, would ease immediate bear pressure and trigger stronger recovery.
Res: 0.9344; 0.9368; 0.9400; 0.9437
Sup: 0.9325; 0.9300; 0.9256; 0.9228
EURUSD
The Euro has gained traction and eventually broke above near-term congestion, also taking out psychological 1.36 barrier. The pair so far retraced 61.8% of 1.3676/1.3510 descend, on dollar-negative post-Fed acceleration. Signals of neater base at 1.35 zone, require confirmation on clearance of 1.3661/76, 20SMA / 06 June lower top, above which stronger correction of 1.3992/1.3502 descend could be anticipated. Near-term studies turned positive and support further upside, however, negative larger picture technicals require caution, in case of stall under 1.3676 and lower top formation.
Res: 1.3645; 1.3667; 1.3676; 1.3722
Sup: 1.3600; 1.3587; 1.3552; 1.3534
GBPUSD
Cable maintains overall positive tone and attempts again through psychological 1.70 barrier, after narrow-range consolidation. Positive near-term studies favor eventual break and fresh phase higher, with immediate target at 1.7041, Aug 2009 peak and 1.71 level, seen in extension. Corrective dips to face good supports at previous peaks at 1.6917/19, along with psychological/ Fibonacci 38.2% retracement, 1.69 support.
Res: 1.7041; 1.7100; 1.7150; 1.7200
Sup: 1.6936; 1.6919; 1.6900; 1.6844
USDJPY
The pair lost traction after Fed and accelerated lower after spiking at 102.35. Fresh weakness retraced 76.4% of 101.59/102.35 upleg, signaling completion of near-term corrective phase and resumption of larger downtrend off 102.78 peak, on a break lower. Negative near-term studies are supportive, however, daily technicals are still in neutral mode and price action being underpinned by 200SMA at 101.54. Clear break here to fully establish bears for retest of psychological 101 support and key levels at 101.81/74, 21 May / 04 Feb lows and larger range floor.
Res: 102.00; 102.30; 102.41; 102.63
Sup: 101.70; 101.54; 101.10; 100.81
AUDUSD
The pair enters near-term recovery mode and eases downside pressure after acceleration lower bottomed at 0.9325, 50% retracement of 0.9209/0.9437 ascend, reinforced by daily Kijun-sen line. Swift recovery broke above psychological 0.94 barrier and nearly fully retraced corrective phase from 0.9437, which confirms higher base formation and signals resumption of the uptrend from 0.92 base, for eventual retest of key 0.9460 peak, 10 Apr high and two-month range top. Overbought hourly studies suggest consolidation around 0.9437 high, before bulls continue.
Res: 0.9437; 0.9460; 0.9500; 0.9550
Sup: 0.9391; 0.9364; 0.9325; 0.9300
EURUSD
The Euro’s attempt at the levels above 1.36 handle after leaving higher low at 1.3585, part or recovery leg from 1.3563, was so far short-lived. Hourly studies are losing traction after corrective attempt 1.3563 higher low failed to sustain gains and confirm wave principles on near-term recovery attempt. Instead, rally capped by bear-trendline off 1.3642 peak, broke below bull-trendline off 1.3563 higher low and threatens return to the latter, loss of which would further weaken the structure and possibly signal an end of recovery phase from 1.3511 base. Negative daily technicals and reversal pattern forming, would likely offset positively aligned 4-hour structure which still keep hopes of fresh attempts higher, in case dips get contained above 1.3563.
Res: 1.3612; 1.3632; 1.3642; 1.3676
Sup: 1.3563; 1.3534; 1.3510; 1.3500
GBPUSD
Cable maintains overall positive tone and consolidates above psychological 1.70 barrier, after last week’s fresh strength peaked at 1.7061. Overall positive studies favor further upside, as the pair eventually broke above multi-year congestion tops and looks for the next target at 1.71. Further advance to focus 1.7331, 50% retracement of larger 2.1161/1.3501 descend. Corrective dips to face initial supports at1.70 zone, while previous peaks at 1.6917/19, as well as 18 June low, are expected to contain stronger pullbacks. Caution is required as daily studies are extended and Friday’s inside day candle may signal reversal, which requires break and today’s close below 1.70 handle to signal initiation of the pullback and loss of 1.69 handle to confirm.
Res: 1.7061; 1.7100; 1.7150; 1.7200
Sup: 1.7000; 1.6985; 1.6919; 1.6900
USDJPY
The pair remains at the back foot after recovery attempt above 102 handle stalled at 102.18 and weakened hourly structure, risking return to 101.72 and 101.59 lows. On the other side, 4-hour picture shows the pair within 101.59/102.35 range, with break of either side, required to define direction, as 4-hour and daily studies are neutral. Loss of 101.72, 19 June higher low and 101.59, 12 June low and breakpoint, reinforced by 200SMA, to re-open key short–term supports and larger picture’s range floor at 100.81/74. Alternatively, extension through the upside pivot at 102.35, to expose the upper target and breakpoint at 102.78, 04 June peak.
Res: 102.00; 102.18; 102.35; 102.63
Sup: 101.72; 101.59; 101.41; 101.10
AUDUSD
The pair holds positive near-term tone after fresh strength off 0.9325 higher base completed corrective 0.9437/0.9325 corrective phase and probes above 0.9437, 12 June peak. The action is supported by overall bullish picture and the pair looks for eventual test of key 0.9460, 10 April peak, break of which to eventually complete larger 0.9460/0.9200 consolidative phase and resume large uptrend. Session low at 0.9367, also Fibonacci 61.8% of 0.9320/0.9442 and higher low should not be exceeded in case of deeper pullback.
Res: 0.9460; 0.9500 0.9550; 0.9619
Sup: 0.9413; 0.9396; 0.9367; 0.9325