Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 89
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EURUSD
The Euro’s near-term price action trades within narrowing range and directionless mode, moving within daily Tenkan-sen and Kijun-sen lines, as recovery attempt off 1.3563 low so far failed to sustain gains above 1.36 handle. This is seen as a first step of stronger upside action, which needs to clear temporary top at 1.3642 and 200SMA at 1.3665, for attempt at key barrier and breakpoint at 1.3676, 06 June lower high. On the downside, 1.36 zone holds for now, guarding higher lows at 1.3572 and pivotal 1.3563, below which, return to 1.35 base would be likely scenario. Hourly studies are gaining traction, while positive tone on 4-hour chart technicals and price action still holding above main bull-trendline off 1.35 base, see the upside slightly favored for now. However, initial signal of establishing fresh direction, requires break of either side- 1.3563 or 1.3642.
Res: 1.3632; 1.3642; 1.3676; 1.3700
Sup: 1.3591; 1.3572; 1.3563; 1.3534
GBPUSD
Cable maintains overall positive tone and trades in consolidative mode above psychological 1.70 barrier, after last week’s fresh strength peaked at 1.7061. Overall positive picture sees further upside favored, 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 at 1.70 zone, while previous peaks at 1.6919/17, also 18 June low, are expected to contain stronger pullbacks. Overextended daily studies may signal prolonged consolidative phase, while only clear break below 1.69 zone, will bring bears fully in play.
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’s stall at 102.18 and weakened hourly structure, triggered return to the levels near 101.72 and 101.59 lows. On the other side, 4-hour picture shows the pair entrenched within 101.59/102.35 range, with break of either side, required to define direction, with 4-hour studies losing traction. 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: 102.18; 102.35; 102.63; 102.78
Sup: 101.80; 101.72; 101.59; 101.41
AUDUSD
The pair corrects recent extension higher but holds positive near-term tone after fresh strength off 0.9325 higher base completed corrective 0.9437/0.9325 corrective phase and probed above 0.9437, 12 June peak. Overall bullish keeps the upside favored, as 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. Initial support lies at 0.9367, yesterday’s low, while higher low at 0.9367, also Fibonacci 61.8% of 0.9320/0.9442 should ideally contain extended dips, to keep the structure intact.
Res: 0.9429; 0.9460; 0.9500; 0.9550
Sup: 0.9392; 0.9367; 0.9325; 0.9300
EURUSD
The Euro consolidates around 1.36 handle after yesterday’s repeated upside rejection and quick reversal to the levels below 1.36. Price action on hourly timeframe remains directionless and studies hold in neutral mode. However, positive tone persists on 4-hour chart, as the price remains above bull-trendline off 1.3511 low and bullish flag pattern is forming. Completion of the pattern requires lift above yesterday’s high at 1.3625 and more significant 1.3642, 19 June peak, to resume recovery from double-bottom at 1.35 zone and open key near-term barrier and pivotal point at 1.3676, 06 June high. Conversely, slide below higher low at 1.3563, also Fibonacci 61.8% retracement of 1.3511/1.3642 upleg, to revive bears and signal lower top formation at 1.3642.
Res: 1.3626; 1.3642; 1.3676; 1.3700
Sup: 1.3582; 1.3563; 1.3534; 1.3511
GBPUSD
Cable is at the back foot in the near-term, as yesterday’s acceleration below recent consolidation floor and psychological support at 1.7000, signaled possible deeper pullback. Near-term technical indicators are establishing in the negative territory and support further weakness. However, break below 1.6920, 18 June higher low / 21/22 May previous peaks and Fibonacci 38.2% of 1.6697/1.7061 upleg, as well as psychological 1.69 support, is required to confirm near-term bearish scenario. Daily studies, reversing from overbought territory, support the notion.
Res: 1.7029; 1.7061; 1.7100; 1.7150
Sup: 1.6919; 1.6900; 1.6836; 1.6800
USDJPY
The pair remains at the back foot and returns to the levels close to 101.80 higher base, after repeated upside failure at 102.15. This keeps hourly structure weak and favoring fresh downside attempts towards layers of supports at 101.80/72/59, with break lower seen as a trigger for retest of larger 100.74/102.78 range floor. Negatively aligned 4-hour studies are supportive for such scenario, with clearance of recent peaks at 102.15/18, required to neutralize and open the upper targets instead.
Res: 102.15; 102.18; 102.35; 102.78
Sup: 101.80; 101.72; 101.59; 101.41
AUDUSD
The pair is losing traction as reversal from fresh high at 0.9443 broke below initial support at 0.9367 and so far tested 0.9352, Fibonacci 38.2% of 0.9209/0.9443 upleg. Weakened near-term studies see threat of attack at key near-term support and base at 0.9320, also 50% retracement, reinforced by daily 20/55SMA’s bull cross, loss of which to confirm daily double top formation and open middle/lower levels of larger 0.9460/0.9200 range. Otherwise, retest of initial 0.9443 barrier and eventual attempt at key 0.9460 resistance, could be expected on reversal above 0.9320 higher base.
Res: 0.9367; 0.9400; 0.9429; 0.9460
Sup: 0.9352; 0.9320; 0.9300; 0.9264
EURUSD
The Euro has ended 10-day recovery phase after yesterday’s rally eventually left 1.36 zone and probed above 1.3642, 19 June peak. Final push is expected to extended corrective leg off 1.35 base and regain key 1.3676 barrier, 06 June peak. Completion of 1.3676/1.35 bear-phase is required to signal stronger reversal and correction of 1.3992/ 1.3500 descend. Positive tone, prevailing on lower timeframes studies, supports the notion. Break below immediate support and minor higher base at 1.3636 will face strong support at 1.36 higher base / 50% retracement of 1.3563/1.3650, where dips should be contained, to keep near-term positive structure intact.
Res: 1.3650; 1.3676; 1.3700; 1.3730
Sup: 1.3600; 1.3582; 1.3572; 1.3563
GBPUSD
Cable consolidates the pullback off 1.7061 peak which broke below psychological 1.70 support and found temporary support at 1.6950. Near-term studies hold neutral tone as the price moves within 50-pips range and recovery so far being capped at 1.70, now reverted to resistance and the notion being confirmed by yesterday’s Doji candle. Unless the price clearly breaks above 1.70 hurdle and confirm higher low formation, ahead of renewed attempt higher, risk would exist for fresh weakness through 1.6950, towards downside break points at 1.6920 and 1.6900, loss of which to trigger stronger pullback.
Res: 1.7000; 1.7029; 1.7061; 1.7100
Sup: 1.6950; 1.6920; 1.6900; 1.6836
USDJPY
The pair remains at the back foot and broke below near-term bases at 101.80/70, to eventually test 101.59, 12 June low/ 200SMA. Weak near-term studies see risk of full retracement of 101.41/ 102.78 upleg, with extension below 102.41 handle, expected to open short-term range floor levels at 101.81/74 for retest. Weakening daily studies support the notion, while only regain of 102.15/18 highs would ease immediate bear pressure.
Res: 101.86; 102.00; 102.18; 102.35
Sup: 101.59; 101.41; 101.10; 101.00
AUDUSD
The pair bounces off fresh low at 0.9352, where pullback from 0.9443 peak found footstep at 38.2% of 0.9209/0.9443 ascend. Regain of 0.94 handle firmed hourly studies for possible fresh attempt towards 0.9443, in case the price action sustains break. Also, 4-hour studies are attempting at their midlines and being supportive for further upside action, while price floats above 0.94 handle. Otherwise risk of return to initial 0.9350 support, also trendline support and extension to 0.932 higher base, would remain in play while the price unable to clearly break 0.94 zone . Overall picture, however, remains bullish and sees scope for further upside after completion of near-term consolidative phase off 0.9443 peak.
Res: 0.9413; 0.9429; 0.9460; 0.9500
Sup: 0.9393; 0.9350; 0.9320; 0.9300
EURUSD
The Euro returned to the positive tone, closing for the week at the weekly high and starting the new week in the same attitude. As the price cracks the previous peak, with linear regression line being broken, scope is seen for final push through 200SMA at 1.3669 and completion of 1.3676/1.3511 descend, break above which to confirm base at 1.35 zone and trigger stronger correction of larger 1.3990/1.3502 bear-leg. Bullish near-term studies support the notion, with bull-trendline, drawn off 1.3511, offering initial support at 1.3630, ahead of 1.3600, round figure / Fibonacci 38.2% and higher base / 50% of current rally / linear regression channel support at 1.3580, above which corrective actions should find support.
Res: 1.3652; 1.3676; 1.3700; 1.3730
Sup: 1.3630; 1.3600; 1.3580; 1.3573
GBPUSD
Cable maintain overall positive tone and trades near recent peak at 1.7061, in a consolidative action, which is expected to precede fresh rally. Studies are positively aligned and support further upside, however, further hesitation ahead of final push higher cannot be ruled out, as daily studies are extended. Break above 1.7061 to open psychological 1.7100 barrier, with 1.7331, 50% retracement of larger 2.1161/1.3501, 2007/2009 descend, expected to come in near-term focus. Psychological level and higher low at 1.7000, offers initial support, ahead of recent range floor at 1.6950, where the downside attempts should be ideally contained.
Res: 1.7049; 1.7061; 1.7100; 1.7150
Sup: 1.7000; 1.6950; 1.6920; 1.6900
USDJPY
The pair remains under pressure and continues to travel south after losing near-term bases at 101.80/70 and 101.59, 12 June low/ 200SMA support. Probe below 101.41, 29 May higher low marked full retracement of 101.41/ 102.78 upleg with bearish resumption expected to open psychological 101 support and short-term range floor levels at 101.81/74 for retest. Negative studies on lower and larger timeframes support the notion for final push lower and break below multi-month congestion. Previous supports at 101.59/80 zone, now offer immediate barriers, ahead of lower tops at 102.15/18, which are expected to cap stronger corrective attempts.
Res: 101.48; 101.59; 101.73; 101.86
Sup: 101.10; 101.00; 100.81; 100.74
AUDUSD
The pair hovers near fresh high at 0.9443, on recovery rally from 0.9350 higher base / trendline support, but still unable to clear barrier. Further consolidation is seen likely, as fresh easing weakens hourly studies, before bulls re-assert for eventual push higher and break above near-term congestion, for resumption of larger uptrend, towards 0.9500, initial barrier. Pullback below psychological / Fibonacci 38.2% retracement of 0.9352/0.9439 upleg, confirms scenario, however, dips should be contained above 0.9352, range bottom, to avoid deeper pullback and introduce bears into near-term picture.
Res: 0.9429; 0.9460; 0.9500; 0.9526
Sup: 0.9385; 0.9350; 0.9320; 0.9300
EURUSD
The Euro consolidates fresh push higher which broke above 200SMA and eventually cleared key 1.3676 barrier. Gains are for now capped at psychological 1.37 barrier, reinforced by daily 55SMA, with current consolidative phase expected to precede fresh leg higher. Break through 1.37 to open daily cloud top at 1.3723 and 1.3737/47, 100SMA / Fibonacci 61.8% retracement of 1.3992/1.3501 descend. Positive 4-hour studies support the scenario, while hourly indicators are entering negative territory and dips ideally to be ideally held by 1.3650 zone, previous highs of 19/25 June / Fibonacci 38.2% retracement of 1.3573/1.3699 upleg.
Res: 1.3700; 1.3723; 1.3737; 1.3747
Sup: 1.3650; 1.3630; 1.3600; 1.3573
GBPUSD
Cable maintains positive tone and continues to trend higher, with break and daily close above 1.71 hurdle, confirming strong bullish tone, after completion of 1.7061/1.6950 corrective phase, resumes larger uptrend and eyes round figure barrier at 1.7200. However, overbought 4-hour and daily conditions require caution, with potential corrective actions to face immediate supports at 1.7100 and 1.7061, previous barriers.
Res: 1.7165; 1.7200; 1.7250; 1.7300
Sup: 1.7100; 1.7061; 1.7000; 1.6950
USDJPY
The pair remains under pressure, with near-term consolidation being under way ahead of 101.10/00 support zone. Overall negative structure favors eventual push through psychological 101 support and retest of key 101.81/74, short-term range floor levels. Break below multi-month congestion to open fresh leg lower, part of larger descend off 105.43, 2013 peak and expose psychological 100 support, next. Previous supports at 101.59/80 zone, now offer immediate barriers and so far limit the upside, ahead of lower tops at 102.15/18, where stronger corrective rallies are expected to be capped.
Res: 101.64; 101.73; 101.86; 102.15
Sup: 101.43; 101.22; 101.10; 101.00
AUDUSD
The pair cracked psychological 0.95 barrier, on a fresh acceleration above previous key level at 0.9460. Resumption of larger upleg off 0.92 higher base now focuses 0.9619, 50% retracement of multi-month 1.0581/0.8658 descend and 0.9755 lower top of Oct 2013, in extension. Corrective actions on overbought near-term studies face solid support at 0.9445, previous consolidation tops and Fibonacci 38.2% of 0.9352/0.9503 upleg and further easing expected to ideally find footstep around 0.94 support zone, Fibonacci 61.8% retracement.
Res: 0.9503; 0.9526; 0.9550; 0.9600
Sup: 0.9445; 0.9400; 0.9385; 0.9350
EURUSD
The Euro is at the back foot in near-term price action, with corrective pullback off 1.3699 peak, probeing below trendline support and strong 1.3650 support area, previous highs of 19/25 June and Fibonacci 38.2% retracement of 1.3573/1.3699 upleg. Negatively aligned hourly studies do not rule out further easing, with the notion being supported by traction losing 4-hour technicals. Daily close below 1.3650., with extension below 1.3627/21, double Fibonacci support and attempt at psychological 1.36 handle, to confirm daily reversal pattern and negative stance for stronger correction of the upleg from 1.35 zone. Otherwise, fresh strength through 200SMA at 1.3672 and eventual break above 1.37 barrier, to complete corrective action and higher low formation for fresh extension of bull-leg from 1.35 base.
Res: 1.3680; 1.3700; 1.3735; 1.3747
Sup: 1.3640; 1.3621; 1.3600; 1.3573
GBPUSD
Cable maintains positive tone and continues to trend higher, with break above 1.71 hurdle, confirming strong bullish tone. Completion of 1.7061/1.6950 corrective phase, resumes larger uptrend and approaches round figure barrier at 1.7200. However, overbought 4-hour and daily conditions require caution, with potential corrective actions to face immediate supports at 1.7100 and 1.7061, previous barriers. Only extension below psychological 1.7000 level and higher base at 1.6950, would sideline bulls for stronger reversal.
Res: 1.7175; 1.7200; 1.7250; 1.7300
Sup: 1.7100; 1.7061; 1.7000; 1.6950
USDJPY
The pair regained traction and bounced from dangerous zone after bottoming at 101.22. Fresh strength retraced nearly 76.4% of the slide from 102.15, as the price approaches psychological 102 barrier. Sustained break here to signal further recovery for test of breakpoints at 102.15/35, regain of which to confirm recovery. Studies of lower timeframes are positive and support further upside, however, overbought hourly conditions may delay rally for consolidation. Previous high at 101.64, also Fibonacci 38.2% of the rally from 101.22, reinforced by hourly 55SMA, should hold deeper dips.
Res: 102.00; 102.15; 102.35; 102.63
Sup: 101.74; 101.64; 101.39; 101.22
AUDUSD
The pair slumped after fresh acceleration above previous key level at 0.9460 stalled at 0.9503. Resumption of larger upleg off 0.92 higher base is now sidelined, as fresh bearish acceleration took out important supports and attempts below bull-trendline off 0.9209 low, also higher base and 50% of 0.9209/0.9503 upleg at 0.9355. With near-term technicals establishing in the negative territory, further weakness and test of the breakpoint at 1.6920, is seen likely. This will also confirm near-term top at 0.9503, ahead of further easing.
Res: 0.9385; 0.9411; 0.9442; 0.9463
Sup: 0.9335; 0.9320; 0.9300; 0.9278
EURUSD
The Euro remains in near-term corrective mode off 1.3573 low and stabilizes above strong 1.36 barrier. As the pair dents important 1.3620/40 resistance zone, further recovery is seen likely. Next targets lay at 1.3651, Fibonacci 61.8% of 1.3699/1.3573 then 1.3662, 03 July lower top / daily cloud base and 1.3672, 200SMA, regain of which to signal an end of corrective phase by confirming higher low formation at 1.3573 and open key 1.3699 peak for fresh attack. Hourly studies are bullish, with 4-hour structure improving and gaining momentum, which is seen supportive for fresh near-term upside action. Initial support lies at 1.36 zone, ahead of higher low at 1.3586, guarding pivotal 1.3573 support.
Res: 1.3636; 1.3651; 1.3662; 1.3672
Sup: 1.3600; 1.3586; 1.3573; 1.3563
GBPUSD
Cable overall picture remains bullish, with near-term price action being in consolidating mode, established within 1.7100/1.7175 range. Near-term studies are neutral, despite brief spike below 1.71 support, as the price recovered ground quickly. Further consolidation is seen as likely near-term scenario, while 1.71 handle stays intact. However, caution is required as long as the price holds at the lower part of the range, as fresh attempt at range’s floor and potential break lower would signal stronger pullback.
Res: 1.7146; 1.7165; 1.7177; 1.7200
Sup: 1.7124; 1.7100; 1.7083; 1.7061
USDJPY
The pair trades in corrective phase and continues to trend lower, after pullback off 102.25 fresh high, lost, lost initial 102 support. Dip to 101.43, over 76.4% retracement of 101.22/102.25 upleg, keeps the downside risk for full retracement of 101.22/102.25 upleg. Negative near-term technicals remain supportive for bearish resumption incase of loss of 101.00. Corrective attempts should stay capped under 102 handle to keep the structure intact.
Res: 101.74; 101.94; 102.19; 102.25
Sup: 101.43; 101.10; 101.00; 100.80
AUDUSD
The pair continues to trade in near-term corrective mode after extended weakness off fresh high at 0.9503, found footstep at 0.9327, just ahead of pivotal 0.9320 support. The rally so far retraced 50% of 0.503/0.9327 descend, in attempt to sustain break above psychological 0.94 barrier. Near-term studies improve on recent bounce, with clear break above 0.94 handle, required to confirm recovery, for extension towards 0.9440/60, next strong resistance zone, possibly to re-focus 0.9503 peak, on a break here. Previous consolidation tops at 0.9370 zone, should contain dips, to keep freshly established near-term bulls alive.
Res: 0.9415; 0.9436; 0.9460; 0.9503
Sup: 0.9389; 0.9370; 0.9339; 0.9327
EURUSD
The Euro holds steady and extends recovery off 1.3573 low, approaching barriers at 1.3651, Fibonacci 61.8% of 1.3699/1.3573 and 1.3666, daily Ichimoku cloud base, ahead of 200SMA at 1.3676, where 55/200SMA death cross in forming. Positive near-term technicals favor further advance and test of these barriers, clearance of which to open pivotal 1.3699, 01 July peak and signal resumption of the uptrend from 1.35 base. Initial support lies at 1.3635, hourly 20SMA / daily Tenkan-sen line, was cracked, ahead of 1.3619, 38.2% of the rally from 1.3473 and psychological / higher base support at 1.3600, below which to bring bears fully in play.
Res: 1.3651; 1.3666; 1.3676; 1.3699
Sup: 1.3619; 1.3600; 1.3586; 1.3574
GBPUSD
Cable holds overall bullish posture, with near-term price action being in consolidative mode, trading within 1.7100/1.7175 range. Studies on 4-hour chart are neutral, while positive tone prevails on hourly timeframe, after the price rallied, following brief break below 1.71 support. Further directionless trading is seen as likely near-term scenario, while 1.71 handle stays intact. However, overextended daily conditions require caution, as fresh weakness below 1.71 handle would signal stronger pullback.
Res: 1.7166; 1.7177; 1.7200; 1.7250
Sup: 1.7120; 1.7100; 1.7083; 1.7061
USDJPY
The pair has completed near-term corrective phase off 11.43 low, which was rejected at 101.85. Subsequent return to 101.43 level signals fresh weakness, as technicals are weak and see scope for further downside, part of larger downmove off 102.25, 03 July high. Sustained break lower to open psychological 101 support and key levels at 100.81/74, short-term congestion floor. Upside attempts should stay capped under psychological barrier / daily Ichimoku cloud base at 102.
Res: 101.65; 101.85; 102.00; 102.19
Sup: 101.43; 101.10; 101.00; 100.80
AUDUSD
Near-term recovery attempt off 0.9327 low has run out of steam at 0.9454 spike high, with subsequent fresh weakness erasing over 61.8% of entire 0.9327/0.9454 upleg. Sharp reversal weakened near-term structure, as hourly studies turned bearish and 4-hour technicals are losing traction. This would risk return to 0.9327 low, also daily cloud top, for eventual attempt at pivotal 0.9320 support, Fibonacci 61.8% of 0.9209/0.9503 ascend and short-term higher base, loss of which to confirm top at 0.9503 and trigger further easing.
Res: 0.9390; 0.9429; 0.9457; 0.9460
Sup: 0.9357; 0.9339; 0.9327; 0.9320
GOLD
Spot Gold holds overall positive structure and attempts at the upper boundary of 1306/1333 range. Near-term price remains supported as studies are positive and favor eventual break above 1333 peak and range ceiling, to resume larger rally off 124
EURUSD
The Euro trades in corrective mode off 1.3585 higher base under formation, where a pullback from1.3649, 10 July peak, found support. The price broke above near-term range, after competing consolidative action, which was holding around 1.36 handle. Fresh rally which reversed over 76.4% of 1.3649/1.3585 downleg, sidelined near-term downside risk and turned immediate focus at the first pivotal barrier at 1.3649. Break here, also Fibonacci 61.8% of 1.3699/1.3574, is required to confirm higher base at 1.3585 and focus the next key barriers at 1.3699, peak of 01 July 2014, with 55/200SMA death cross at 1.3674, seen as additional protection of 1.3699 hurdle.
Res: 1.3649; 1.3662; 1.3674; 1.3699
Sup: 1.3623; 1.3600; 1.3585; 1.3574
GBPUSD
Cable maintains overall bullish structure, with near-term price action being in consolidative mode, which so far holds within 1.7100/1.7175 range. Studies on hourly chart turned negative, as the price holds near-the lower range boundary. Technical of 4-hour chart are neutral, favoring further directionless trading, while 1.71 handle stays intact. However, daily studies, reversing from overbought zone, require caution, as break below 1.71 handle would trigger fresh weakness signal stronger pullback, towards initial 1.7061, previous peak and psychological 1.7000 support.
Res: 1.7149; 1.7166; 1.7177; 1.7200
Sup: 1.7100; 1.7083; 1.7061; 1.7000
USDJPY
The pair consolidates last week’s fresh weakness and extension lower, which probed 101 support area. Overall bearish structure favors eventual break below psychological 101 support and test of key supports and short-term congestion floor levels at 100.81/74, below which to resume larger downtrend off 105.43, 2013 annual high. Corrective actions face initial barrier at 101.43, ahead of 101.55, Fibonacci 61.8% retracement of 101.85/101.05 downleg, where rallies should be ideally capped. Only break above lower high at 101.85 and psychological 102 barrier, would neutralize bears.
Res: 101.43; 101.55; 101.85; 102.00
Sup: 101.20; 101.05; 100.80; 100.74
AUDUSD
The pair trades in near-term consolidative and directionless mode, after acceleration from 0.9454 spike high, found support at 0.9359. Near-term technicals are neutral and require lift above 0.9454 barrier, to confirm bullish resumption, supported by overall positive picture and eventual attack at key 0.9503 peak. Alternative scenario sees violation of initial 0.9359 handle and renewed attempt at strong support and higher base at 0.9320 zone, below which to trigger fresh extension of the pullback from 0.9503.
Res: 0.9407; 0.9429; 0.9454; 0.9503
Sup: 0.9375; 0.9359; 0.9339; 0.9327
EURUSD
The Euro failed to sustain gains off 1.3585 base, after recovery rally stalled at 1.3639 and subsequent easing returned to 1.36 support zone. With near-term studies losing traction, downside risk increases, as loss of 1.36 handle to expose key supports at 1.3585 higher base and low of 07 July at 1.3574. Completion of 1.3574/1.3639 corrective phase to signal resumption of larger descends off 1.3699, 01 July peak and possibly open key short-term support and base at 1.35 zone. On the other side, ability to hold above 1.3585, would signal prolonged consolidation, while establishment of an upside direction requires fresh stretch and regain of 1.3639/49 barriers.
Res: 1.3625; 1.3639; 1.3649; 1.3699
Sup: 1.3600; 1.3585; 1.3574; 1.3559
GBPUSD
Cable lost bullish momentum and penetrated below initial 1.71 support and previous consolidation floor. This signals stronger corrective action, off fresh high at 1.7175, with previous top at 1.7061, being tested so far, as the pair aims towards the next target and psychological support at 1.7000. Negative near-term technicals support further easing, as reversal pattern is forming on a daily chart. Corrective rallies to face initial resistances at 1.7088/1.7100 zone, with extended rallies, to be contained by 1.7150 zone.
Res: 1.7088; 1.7100; 1.7120; 1.7134
Sup: 1.7049; 1.7000; 1.6950; 1.6937
USDJPY
The pair moves higher, on near-term corrective rally off fresh low at 101.05, posted on 05 July. Fresh extension higher so far retraced nearly 50% of 102.25/101.05 descend, with positive hourly studies being supportive. However, 4-hour technicals are still weak and require regain of pivotal 101.85/102 barriers to confirm recovery. Otherwise, lower top formation and fresh weakness, in case of stall under 101.85, reinforced by 20/200 death cross, would remain on the table, as overall picture remains bearish and sees potential for final push towards key supports and short-term congestion floor levels at 100.81/74, loss of which to resume larger downtrend off 105.43, 2013 annual high.
Res: 101.65; 101.85; 102.00; 102.25
Sup: 101.51; 101.20; 101.05; 100.80
AUDUSD
The pair trades in near-term consolidative mode, with price action holding near the lower consolidation boundary at 0.9359, where acceleration from 0.9454 spike high, found temporary support. Near-term technicals are losing neutral bias, which requires confirmation on a break below 0.9359 handle, to bring bears back in play for return to 0.9320 breakpoint. Alternatively, holding above current supports, will keep the pair in extended consolidative mode, while lift above 0.9454 barrier is required to confirm bullish resumption, for eventual attack at key 0.9503 peak.
Res: 0.9407; 0.9429; 0.9454; 0.9503
Sup: 0.9359; 0.9339; 0.9327; 0.9320