EURUSD cracks 1.10 support



EURUSD

Asian trading saw probe below psychological 1.10 support, as the pair’s near-term price action remains biased down. Friday closed in red, just above 1.10 handle that was seen as brief consolidation, before fresh push lower. Fresh weakness penetrated daily cloud top at 1.0979, suggesting further weakness, as daily indicators continue to point lower. Also, long red weekly candle, after five-week recovery from 1.0519. 12 Apr higher low, suggests that short-term correction may be over. The pair focuses daily 55SMA at 1.0917 and 1.0880, Fibonacci 61.8% of 1.0519/1.1465 rally, close below which to confirm an end of corrective phase. Near-term studies are bearish, with hourly / 4-hour RSI at the border of oversold territory, suggesting prolonged consolidation, before fresh leg lower commences. Daily Kijun-sen line at 1.1062, marks initial resistance, ahead of daily 100SMA at 1.1133, expected to cap corrective rallies.

Res: 1.1009; 1.1062; 1.1100; 1.1133
Sup: 1.0962; 1.0917; 1.0880; 1.0858

eurusd



GBPUSD

Overnight’s trading is shaped in tight Doji, with pivotal support at 1.5445, 19 May low, where Friday’s fall was contained by daily 20SMA, holding for now. Friday’s close in long red candle and below 200SMA, as well as weekly close in red, suggests that further easing cannot be ruled out, as daily indicators are in descending mode. Break below 1.5445 pivot and near-term base, is required to confirm daily failure swing formation and open way for fresh retracement of the upleg from 1.5086 to 1.5813. Near-term consolidation is so far capped by 4-hour Ichimoku cloud base, seeing limited upside attempts, as near-term studies are negative. Extended corrective rallies should be ideally capped under 1.56 barrier, while only break above pivotal 1.57 lower platform, would neutralize downside threats.

Res: 1.5490; 1.5549; 1.5600; 1.5641
Sup: 1.5445; 1.5400; 1.5364; 1.5258

gbpusd



USDJPY

Near-term price action consolidates below fresh high at 121.76, posted overnight, maintaining positive tone, confirmed by last Friday’s and weekly close in long green candles. The pair is looking for final retest of key 122.01 barrier, peak of 10 Mar, to complete 122.01/118.31 corrective phase and signal resumption of larger uptrend. Bullish setup of daily studies supports the notion, however, overbought near-term technicals suggest hesitation on approach to 122.01 break point. Friday’s low at 120.62, marks key support and should contain extended dips.

Res: 124.76; 122.01; 122.30; 122.81
Sup: 121.46; 121.00; 120.83; 120.62

usdjpy


AUDUSD

The pair maintains bearish near-term tone, as reversal from recovery peak at 0.8161, extended in Asian session and tested psychological 0.78 support. Daily and weekly close in long red candles, confirms near-term weakness, also suggesting an end of recovery action from 0.7531, low of 02 Apr. Immediate focus is at 0.7780 support, trough of 05 May, also daily 55SMA and Fibonacci 61.8% of 0.7531/0.8161 rally, close below which to confirm bearish resumption. Daily 100SMA offers initial resistance at 0.7837, with daily 20SMA at 0.7935, marking a breakpoint.

Res: 0.7835; 0.7865; 0.7900; 0.7930
Sup: 0.7802; 0.7780; 0.7736; 0.7680

audusd

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD steady below 1.0800 after US PCE meets expectations

EUR/USD steady below 1.0800 after US PCE meets expectations

EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips.  Fed Chair Jerome Powell set to speak ahead of the weekly close.

EUR/USD News

GBP/USD hovers around 1.2620 in dull trading

GBP/USD hovers around 1.2620 in dull trading

GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.

GBP/USD News

Gold price sits at all-time highs above $2,230

Gold price sits at all-time highs above $2,230

Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.

Gold News

Jito price could hit $6 as JTO coils up inside this bullish pattern

Jito price could hit $6 as JTO coils up inside this bullish pattern

Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.

Read more

Key events in developed markets next week

Key events in developed markets next week

Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.

Read more

Majors

Cryptocurrencies

Signatures