EURUSD
The Euro traded in quiet, narrow-ranged US session yesterday, awaiting an action expected on Greece’s official default at the end of the day. Not much of movements happened so far, however, near-term structure remains negatively aligned. Fresh attacks at pivotal daily Ichimoku cloud top support at 1.1112 are under way, after breaking below initial daily 55SMA and Kijun-sen at 1.1130/26 that marked the bottom of yesterday’s range. Yesterday’s close in red and formation of daily 10/20SMA’s bearish cross, maintains negative near-term tone. Penetration into daily cloud and daily close below cloud’s top, to confirm bearish stance and open daily 100SMA at 1.1046 initially, with further acceleration lower to look for retest of daily Ichimoku cloud base at 1.0971. Descending daily Tenkan-sen line marks initial resistance at 1.1180, ahead of 10SMA at 1.1228 and pivotal daily 20SMA at 1.1245, break of which to provide relief.
Res: 1.1144; 1.1180; 1.1228; 1.1245
Sup: 1.1112; 1.1082; 1.1046; 1.1000
GBPUSD
Cable continues to trade within near-term range, established between 1.5660, 29 June low and 1.5800, 24 June recovery top. Near-term structure is generally neutral, however, hourly tone weakened, following past two day’s unsuccessful attempts higher that stalled under pivotal 1.58 barrier. On the other side, daily bulls remain in play, with range floor, reinforced by ascending daily 20SMA, required to hold and keep bulls intact. Otherwise, extension of pullback from 1.5928 peak, could be anticipated, if 1.5660 higher base is lost. Daily 10 SMA offers initial resistance at 1.5762 and caps the action for now, guarding 1.5800 pivot.
Res: 1.5742; 1.5762; 1.5786; 1.5800
Sup: 1.5672; 1.5660; 1.5637; 1.5547
USDJPY
The pair remains under pressure and posted fresh week’s low at 121.92 yesterday, after brief probe below pivotal 122 support. Yesterday’s close in long-legged Doji, shows hesitation at this strong support, as sustained break below 122 that was former upside breakpoint, would signal resumption of corrective pullback from 125.84 peak. Former base at 122.44 that was cracked on past two-day dips, is still acting as support, as market closed both days marginally above the base. However, near-term tone remains weak and keeps focus at the downside, with south-heading daily indicators, supporting the notion. Rallies are expected to precede renewed attempt at 122 support zone, with Monday’s high at 123.18, reinforced by daily 10SMA, expected to cap upside attempts.
Res: 122.76; 123.00; 123.18; 123.74
Sup: 122.44; 121.92; 121.53; 121.00
AUDUSD
The pair holds steady in the near-term, extending two-day recovery from fresh low at 0.7584, posted on brief probe below strong 0.76 base. Repeated positive daily close, maintains positive near-term tone, as today’s fresh strength probes above daily 20SMA at 0.7720, also near mid-point of 0.7846/0.7584 slide. Daily positive close above 20SMA, would confirm formation of reversal pattern and signal further upside, for possible retest of 0.7846, top of short-term 0.7600/0.7846 range, reinforced by daily Ichimoku cloud base. Conversely, daily close below 20SMA, would be initial signal of recovery stall and would keep focus at the lower side of the range.
Res: 0.7736; 0.7746; 0.7769; 0.7800
Sup: 0.7697; 0.7658; 0.7631; 0.7600
The Euro traded in quiet, narrow-ranged US session yesterday, awaiting an action expected on Greece’s official default at the end of the day. Not much of movements happened so far, however, near-term structure remains negatively aligned. Fresh attacks at pivotal daily Ichimoku cloud top support at 1.1112 are under way, after breaking below initial daily 55SMA and Kijun-sen at 1.1130/26 that marked the bottom of yesterday’s range. Yesterday’s close in red and formation of daily 10/20SMA’s bearish cross, maintains negative near-term tone. Penetration into daily cloud and daily close below cloud’s top, to confirm bearish stance and open daily 100SMA at 1.1046 initially, with further acceleration lower to look for retest of daily Ichimoku cloud base at 1.0971. Descending daily Tenkan-sen line marks initial resistance at 1.1180, ahead of 10SMA at 1.1228 and pivotal daily 20SMA at 1.1245, break of which to provide relief.
Res: 1.1144; 1.1180; 1.1228; 1.1245
Sup: 1.1112; 1.1082; 1.1046; 1.1000
GBPUSD
Cable continues to trade within near-term range, established between 1.5660, 29 June low and 1.5800, 24 June recovery top. Near-term structure is generally neutral, however, hourly tone weakened, following past two day’s unsuccessful attempts higher that stalled under pivotal 1.58 barrier. On the other side, daily bulls remain in play, with range floor, reinforced by ascending daily 20SMA, required to hold and keep bulls intact. Otherwise, extension of pullback from 1.5928 peak, could be anticipated, if 1.5660 higher base is lost. Daily 10 SMA offers initial resistance at 1.5762 and caps the action for now, guarding 1.5800 pivot.
Res: 1.5742; 1.5762; 1.5786; 1.5800
Sup: 1.5672; 1.5660; 1.5637; 1.5547
USDJPY
The pair remains under pressure and posted fresh week’s low at 121.92 yesterday, after brief probe below pivotal 122 support. Yesterday’s close in long-legged Doji, shows hesitation at this strong support, as sustained break below 122 that was former upside breakpoint, would signal resumption of corrective pullback from 125.84 peak. Former base at 122.44 that was cracked on past two-day dips, is still acting as support, as market closed both days marginally above the base. However, near-term tone remains weak and keeps focus at the downside, with south-heading daily indicators, supporting the notion. Rallies are expected to precede renewed attempt at 122 support zone, with Monday’s high at 123.18, reinforced by daily 10SMA, expected to cap upside attempts.
Res: 122.76; 123.00; 123.18; 123.74
Sup: 122.44; 121.92; 121.53; 121.00
AUDUSD
The pair holds steady in the near-term, extending two-day recovery from fresh low at 0.7584, posted on brief probe below strong 0.76 base. Repeated positive daily close, maintains positive near-term tone, as today’s fresh strength probes above daily 20SMA at 0.7720, also near mid-point of 0.7846/0.7584 slide. Daily positive close above 20SMA, would confirm formation of reversal pattern and signal further upside, for possible retest of 0.7846, top of short-term 0.7600/0.7846 range, reinforced by daily Ichimoku cloud base. Conversely, daily close below 20SMA, would be initial signal of recovery stall and would keep focus at the lower side of the range.
Res: 0.7736; 0.7746; 0.7769; 0.7800
Sup: 0.7697; 0.7658; 0.7631; 0.7600
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