EURUSD
The Euro cracked psychological 1.34 support after full reversal of 1.3475/1.3992 bull-leg and break below main bull-trendline, drawn off 1.2042, July 2012 low, commenced fresh phase lower, as an extension of pullback from 1.3992, 04 May peak. Higher low of 03 Nov 2013 at 1.3294 is the next significant level, with 1.3247, Fibonacci 38.2% of 1.2042/1.3992 ascend, seen in extension. Bearish studies favor further bearish action in the near-term, however, overextended daily technicals warn of possible bounce. The pair currently consolidates above fresh low at 1.3399, with hourly 20SMA limiting the upside. Stronger rally through lower platform at 1.3443, would delay immediate bears.
Res: 1.3420; 1.3443; 1.3474; 1.3483
Sup: 1.3399; 1.3350; 1.3294; 1.3247
GBPUSD
Cable maintains negative structure and posts fresh low at 1.6931, meeting its initial target of 50% retracement of 1.6697/1.7189 upleg, after ending 1.6959/1.7000 consolidative phase. , Further bears are expected to test 1.6900, round-figure support and 1.6885, Fibonacci 61.8% retracement. Consolidative actions should stay under 1.7000 barrier, to keep bears intact, while penetration of 1.7000 level would signal near-term corrective action and put bears on hold.
Res: 1.6959; 1.7000; 1.7025; 1.7050
Sup: 1.6931; 1.6900; 1.6885; 1.6850
USDJPY
The pair remains supported with near-term price action establishing above psychological 102 barrier. Sustained break above higher, with barrier being reinforced by 200SMA, is required to confirm bullish resumption and expose next pivotal barriers at 102.25/35, 03 July / 18 June lower tops. Positive near-term studies support the notion, with daily conditions improving, as indicators broke in the positive territory. Hesitation ahead of 102.25/35 hurdles could be expected, as near-term studies approach overbought territory.
Res: 102.25; 102.35; 102.78; 103.00
Sup: 102.00; 101.71; 101.60; 101.30
AUDUSD
The pair’s near-term price action remains under pressure, as fresh extension of descend from recovery rejection at 0.9468, establishes below 0.94 barrier. Weak near-term structure supports further weakness for test of daily cloud top at 0.9350 and lower boundaries of short-term range, where strong support lies at 0.9320 higher base. Loss of the latter is expected to accelerate towards larger range floor and platform at 0.92 zone. However, near-term range-trading is expected to remain in play while 0.9320 holds.
Res: 0.9414; 0.9454; 0.9468; 0.9503
Sup: 0.9358; 0.9327; 0.9320; 0.9300
The Euro cracked psychological 1.34 support after full reversal of 1.3475/1.3992 bull-leg and break below main bull-trendline, drawn off 1.2042, July 2012 low, commenced fresh phase lower, as an extension of pullback from 1.3992, 04 May peak. Higher low of 03 Nov 2013 at 1.3294 is the next significant level, with 1.3247, Fibonacci 38.2% of 1.2042/1.3992 ascend, seen in extension. Bearish studies favor further bearish action in the near-term, however, overextended daily technicals warn of possible bounce. The pair currently consolidates above fresh low at 1.3399, with hourly 20SMA limiting the upside. Stronger rally through lower platform at 1.3443, would delay immediate bears.
Res: 1.3420; 1.3443; 1.3474; 1.3483
Sup: 1.3399; 1.3350; 1.3294; 1.3247
GBPUSD
Cable maintains negative structure and posts fresh low at 1.6931, meeting its initial target of 50% retracement of 1.6697/1.7189 upleg, after ending 1.6959/1.7000 consolidative phase. , Further bears are expected to test 1.6900, round-figure support and 1.6885, Fibonacci 61.8% retracement. Consolidative actions should stay under 1.7000 barrier, to keep bears intact, while penetration of 1.7000 level would signal near-term corrective action and put bears on hold.
Res: 1.6959; 1.7000; 1.7025; 1.7050
Sup: 1.6931; 1.6900; 1.6885; 1.6850
USDJPY
The pair remains supported with near-term price action establishing above psychological 102 barrier. Sustained break above higher, with barrier being reinforced by 200SMA, is required to confirm bullish resumption and expose next pivotal barriers at 102.25/35, 03 July / 18 June lower tops. Positive near-term studies support the notion, with daily conditions improving, as indicators broke in the positive territory. Hesitation ahead of 102.25/35 hurdles could be expected, as near-term studies approach overbought territory.
Res: 102.25; 102.35; 102.78; 103.00
Sup: 102.00; 101.71; 101.60; 101.30
AUDUSD
The pair’s near-term price action remains under pressure, as fresh extension of descend from recovery rejection at 0.9468, establishes below 0.94 barrier. Weak near-term structure supports further weakness for test of daily cloud top at 0.9350 and lower boundaries of short-term range, where strong support lies at 0.9320 higher base. Loss of the latter is expected to accelerate towards larger range floor and platform at 0.92 zone. However, near-term range-trading is expected to remain in play while 0.9320 holds.
Res: 0.9414; 0.9454; 0.9468; 0.9503
Sup: 0.9358; 0.9327; 0.9320; 0.9300
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