Cable- fresh bears pressure hourly base at 1.5127 for final break lower

EURUSD

The Euro closed in Doji yesterday, showing indecision, after repeated rejection under 1.13 barrier and subsequent fall being contained just above pivotal 1.1180 support, 200SMA / Fibonacci 61.8% of 1.1114/1.1280 upleg. Near-term price action moves around daily 20SMA at 1.1240, after Asian trading left hourly lower platform at 1.1260, capped by daily Ichimoku cloud base. Initial range has been established between 1.1180 and 1.1280, with break of either side, needed to establish fresh direction. Near-term technicals are positively aligned and keep focus at the upside, with initial supports at 1.1220, 4-hour Ichimoku cloud top / Fibonacci 61.8% of 1.1192/1.1266 upleg and psychological 1.12 handle, required to hold. Otherwise, expect renewed attempts at 1.1180 pivot, loss of which to re-establish bears on lower timeframes.

Res: 1.1240; 1.1260; 1.1280; 1.1312
Sup: 1.1220; 1.1200; 1.1180; 1.1145






GBPUSD

Cable posted marginally lower low at 1.5127, after completing initial 1.5133/1.5239 consolidation, keeping near-term bears fully in play. Yesterday’s repeated close in red and below former strong 1.5168/63 support zone, confirms break below multi-month congestion, which was support at here. Firm bearish tone on daily chart studies, favors attack at next targets at 1.5100, round-figure support and 1.5085, Fibonacci 61.8% of larger1.4563/1.5928 rally, with psychological 1.50 support, coming in near-term focus. However, daily slow Stochastic, moves sideways in oversold zone and suggests extended consolidation, ahead of fresh attempts lower. Falling 4-hour 20EMA, offers initial resistance at 1.5190, with consolidative phase, expected to ideally stay capped under 1.5286, 24 Sep hourly lower platform.

Res: 1.5190; 1.5239; 1.5286; 1.5333
Sup: 1.5127; 1.5100; 1.5085; 1.5000






USDJPY

Near-term price action is capped under psychological 120 barrier, after bouncing from yesterday’s low at 119.23, where triangle support line contained. The pair remains in narrowing triangular consolidation, with neutral/bearish tone, prevailing on lower timeframes, while daily technicals maintain bearish tone. Break out of the triangle, will give initial signals for fresh direction, while break through short-term congestion boundaries at 119.05 and 121.31, is needed to confirm. Psychological barrier is reinforced by daily 20SMA, followed by thin daily Ichimoku cloud base and top at 120.54/70. On the downside, triangle support lies at 119.30, followed by lows at 119.20 zone and range floor at 119.05.

Res: 119.70; 120.00; 120.37; 120.50
Sup: 119.65; 119.30; 119.05; 118.57






AUDUSD

The pair extends near-term consolidation, after failing to break below 0.6935 low, with indecision being signaled by yesterday’s long-legged Doji candle. The action could be described as hesitation ahead of key 0.6906 support, low of 04 Sep, return to which to complete 0.6906/0.7278 corrective phase. Near-term studies give mixed signals, suggesting further sideways trading, with near-term range being established between 0.6935 and 0.7041 and the upper boundary reinforced by daily 20SMA. Immediate focus will remain skewed towards the downside, while the latter caps. Otherwise, stronger bounce could be expected, on violation of daily 20SMA, which currently lies at 0.7053 and is forming bearish cross with falling daily 10SMA.

Res: 0.7020; 0.7041; 0.7053; 0.7088
Sup: 0.6977; 0.6935; 0.6906; 0.6872