EURUSD - double upside rejection requires further consolidation; key supports at 1.1250 zone under pressure

EURUSD

Near-term structure weakens, after repeated upside rejection and failure to close above 1.1473, Fibonacci 61.8% of 1.1712/1.1086 descend. Yesterday’s close in red, confirms hesitation, with the price sliding below 1.14 handle and threatening pivotal support zone at 1.1354/42, broken bull-channel resistance / 13 Oct higher low.
Pullback should be ideally contained here, to keep overall bulls intact, however, deeper correction cannot be ruled out, as daily slow Stochastic that reversed from overbought territory, shows more room downside.
Violation of 1.1354/42 pivots, would expose psychological 1.1300 support, mid-point of 1.1103/1.1494 rally / weekly Ichimoku cloud base and bring the price back to the former congestion, entrenched between 1.1133 and 1.1300, on break lower.

Res: 1.1410; 1.1426; 1.1442; 1.1495
Sup: 1.1354; 1.1342; 1.1300; 1.1253






GBPUSD

Cable trades in consolidative mode, following strong rally on 14 Oct, with yesterday’s daily candle with very long shadows, confirming indecision. The pair remains capped under strong daily cloud top at 1.5490, which was cracked yesterday on a short-lived probe above psychological 1.55 barrier.
Extended consolidation is seen as likely near-term scenario, as hourly technicals are neutral, however, overall bullish structure, keeps the upside in focus. The notion is supported by another strong weekly bullish close that is very likely.
Final break above daily Ichimoku cloud top, will signal fresh leg higher.
Consolidation floor at 1.5413, reinforced by daily 55 SMA, is expected to ideally contain consolidation.

Res: 1.5490; 1.5506; 1.5526; 1.5581
Sup: 1.5459; 1.5413; 1.5350; 1.5316





USDJPY

The pair corrects higher, after bearish acceleration spiked to 118.05 low. Yesterday’s long-legged Doji candle signals hesitation, after freshly established bears eventually ended short-term congestion phase.
Bounce recovered 50% of 120.33/118.05 fall at 119.20, session high, with action expected to be limited under former triangle support, now reverted to resistance, at 119.72.
Overall structure remains bearish and fresh leg lower, on completion of near-term corrective phase, is seen favored.

Res: 119.20; 119.46; 119.72; 120.00
Sup: 118.05; 117.43; 117.00; 116.13






AUDUSD

Two-day recovery was capped by falling daily 100 SMA at 0.7361, prolonging final attack at key 0.7380 peak. Current easing is so far seen as consolidation, with pivotal 0.7200 support, required to hold.
Near-term studies are weakening, but overall picture remains firmly bullish and favors fresh attempts higher, after completing consolidation of strong 9-day rally.
Alternatively, loss of 0.72 handle, would signal correction. Breakpoint lies at 0.7100, daily Ichimoku cloud base / Fibonacci 61.8% of 0.6935/0.7306 rally and break here is needed to neutralize short-term bulls.

Res: 0.7300; 0.7344; 0.7361; 0.7380
Sup: 0.7263; 0.7235; 0.7200; 0.7157