EURUSD
The Euro trades in choppy near-term mode on lower volumes. Initial acceleration from yesterday’s low at 1.1135, where bears were contained by the mid-point of 1.0818/1.1434 ascend, reinforced by daily Kijun-sen line, so far lacks momentum for stronger upside attempts. Recovery staled at 1.1233 and returned below 20SMA at 1.1215, which marks the upper boundary of near-term congestion that is supported by daily Ichimoku cloud top at 1.1145. Weak near-term technicals see limited upside for now, with daily close below 20SMA, to confirm negative stance for retest of 1.1135 low and resumption of descend from 1.1434, high of 18 June. Traders remain cautious ahead of end of Greek negotiations, staying in holding mode, seen as the favored near-term scenario. Extended recovery above daily 20SMA, is expected to face solid resistances at 1.1260, broken bull-trendline, drawn off 1.0818 lo and 1.1277, daily 10SMA that is starting to point lower. Ideally, rallies should be capped at this zone, to maintain fresh near-term bears, confirmed by yesterday’s bearish acceleration that ended day in long red candle
Res: 1.1215; 1.1233; 1.1250; 1.1281
Sup: 1.1182; 1.1145; 1.1125; 1.1100
GBPUSD
The pair remains at the back foot in the near-term trading, with two-day pullback from fresh high at 1.5928, posted on 18 June, finding temporary support at 1.5706, where dips were contained by ascending daily 10SMA that also keeps the downside protected today. In addition, rising daily Tenkan-sen line, underpins the action at 1.5696. Ideally, corrective action of larger picture’s bulls should find ground at 1.57 area, to keep overall bulls intact for fresh attack at 1.5928 barrier and possible extension towards short-term target at psychological 1.60 barrier. However, today’s recovery ran out of steam at initial 1.58 barrier, limiting recovery attempts for now and turning near-term risk lower again. Break and close below 1.57 handle would signal fresh weakness and extension of corrective phase towards 1.5637, Fibonacci 61.8% retracement of 1.5168/1.5928 rally, as near-term technicals are losing traction. Holding above 1.57, however, would signal extended consolidation, so far entrenched within 1.57/1.58 range. Any improvement would require sustained break above 1.5831, Fibonacci 61.8% retracement of 1.5908/1.5706 downleg.
Res: 1.5800; 1.5831; 1.5860; 1.5908
Sup: 1.5729; 1.5706; 1.5665; 1.5637
USDJPY
The pair enters near-term holding pattern, consolidating two-day rallies that peaked at 124.17, shy of pivotal peak and near-term congestion top at 124.42, high of 17 June. Daily bulls remain in play, following formation of near-term base at 122.44 and subsequent bounce. Consolidative action moves around psychological 124 level, holding above important daily 20SMA at 123.81, but lacks momentum for final push through 124.42. However, repeated daily close above 20SMA, would keep positive sentiment in play, with fresh acceleration through 124.42 and 124.54, Fibonacci 61.8% retracement of 125.74/122.44 pullback, also to confirm double-bottom pattern and trigger fresh bullish acceleration. Extended consolidation could be expected while 124.42 barrier holds, with softer near-term tone on potential return below daily 20SMA. The downside should be protected by ascending daily 10SMA, at 123.38, to keep overall bullish structure intact.
Res: 124.17; 124.42; 124.54; 125.04
Sup: 124.00; 123.81; 123.52; 123.12
AUDUSD
Aussie remains in choppy near-term trading, without clear direction, following yesterday’s long-legged Doji and today’s action higher, being capped at initial barrier, descending daily Kijun-sen line. Near-term tone remains soft, as the pair quickly erased today’s gains, approaching psychological 0.77 support and yesterday’s low at 0.7678. Violation of these supports would signal further extension of reversal fro fresh recovery high at 0.7846. Short-term price action hold around the mid-point of 0.7597/0.7846 range and holds in directionless mode, with break of either side, required to establish fresh direction. Upside boundary is reinforced by daily Ichimoku cloud base, while 0.76 higher base and the floor of short-term congestion, marks the last barrier en-route towards 0.7531, low of 02 Apr, return to which to fully retrace short-term 0.7531/0.8161 rally.
Res: 0.7769; 0.7800; 0.7817; 0.7846
Sup: 0.7700; 0.7678; 0.7643; 0.7597
The Euro trades in choppy near-term mode on lower volumes. Initial acceleration from yesterday’s low at 1.1135, where bears were contained by the mid-point of 1.0818/1.1434 ascend, reinforced by daily Kijun-sen line, so far lacks momentum for stronger upside attempts. Recovery staled at 1.1233 and returned below 20SMA at 1.1215, which marks the upper boundary of near-term congestion that is supported by daily Ichimoku cloud top at 1.1145. Weak near-term technicals see limited upside for now, with daily close below 20SMA, to confirm negative stance for retest of 1.1135 low and resumption of descend from 1.1434, high of 18 June. Traders remain cautious ahead of end of Greek negotiations, staying in holding mode, seen as the favored near-term scenario. Extended recovery above daily 20SMA, is expected to face solid resistances at 1.1260, broken bull-trendline, drawn off 1.0818 lo and 1.1277, daily 10SMA that is starting to point lower. Ideally, rallies should be capped at this zone, to maintain fresh near-term bears, confirmed by yesterday’s bearish acceleration that ended day in long red candle
Res: 1.1215; 1.1233; 1.1250; 1.1281
Sup: 1.1182; 1.1145; 1.1125; 1.1100
GBPUSD
The pair remains at the back foot in the near-term trading, with two-day pullback from fresh high at 1.5928, posted on 18 June, finding temporary support at 1.5706, where dips were contained by ascending daily 10SMA that also keeps the downside protected today. In addition, rising daily Tenkan-sen line, underpins the action at 1.5696. Ideally, corrective action of larger picture’s bulls should find ground at 1.57 area, to keep overall bulls intact for fresh attack at 1.5928 barrier and possible extension towards short-term target at psychological 1.60 barrier. However, today’s recovery ran out of steam at initial 1.58 barrier, limiting recovery attempts for now and turning near-term risk lower again. Break and close below 1.57 handle would signal fresh weakness and extension of corrective phase towards 1.5637, Fibonacci 61.8% retracement of 1.5168/1.5928 rally, as near-term technicals are losing traction. Holding above 1.57, however, would signal extended consolidation, so far entrenched within 1.57/1.58 range. Any improvement would require sustained break above 1.5831, Fibonacci 61.8% retracement of 1.5908/1.5706 downleg.
Res: 1.5800; 1.5831; 1.5860; 1.5908
Sup: 1.5729; 1.5706; 1.5665; 1.5637
USDJPY
The pair enters near-term holding pattern, consolidating two-day rallies that peaked at 124.17, shy of pivotal peak and near-term congestion top at 124.42, high of 17 June. Daily bulls remain in play, following formation of near-term base at 122.44 and subsequent bounce. Consolidative action moves around psychological 124 level, holding above important daily 20SMA at 123.81, but lacks momentum for final push through 124.42. However, repeated daily close above 20SMA, would keep positive sentiment in play, with fresh acceleration through 124.42 and 124.54, Fibonacci 61.8% retracement of 125.74/122.44 pullback, also to confirm double-bottom pattern and trigger fresh bullish acceleration. Extended consolidation could be expected while 124.42 barrier holds, with softer near-term tone on potential return below daily 20SMA. The downside should be protected by ascending daily 10SMA, at 123.38, to keep overall bullish structure intact.
Res: 124.17; 124.42; 124.54; 125.04
Sup: 124.00; 123.81; 123.52; 123.12
AUDUSD
Aussie remains in choppy near-term trading, without clear direction, following yesterday’s long-legged Doji and today’s action higher, being capped at initial barrier, descending daily Kijun-sen line. Near-term tone remains soft, as the pair quickly erased today’s gains, approaching psychological 0.77 support and yesterday’s low at 0.7678. Violation of these supports would signal further extension of reversal fro fresh recovery high at 0.7846. Short-term price action hold around the mid-point of 0.7597/0.7846 range and holds in directionless mode, with break of either side, required to establish fresh direction. Upside boundary is reinforced by daily Ichimoku cloud base, while 0.76 higher base and the floor of short-term congestion, marks the last barrier en-route towards 0.7531, low of 02 Apr, return to which to fully retrace short-term 0.7531/0.8161 rally.
Res: 0.7769; 0.7800; 0.7817; 0.7846
Sup: 0.7700; 0.7678; 0.7643; 0.7597
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