EURUSD probes above 1.10, 200SMA expected to cap correction

EURUSD

Bounce from near-term base that is forming at 1.09 zone, cracks psychological 1.10 resistance, on extended recovery, triggered by week-end profit-taking. The notion is supported by daily slow Stochastic that reverses from oversold territory and gives bullish signal.
However, limited upside action is expected, ahead of fresh leg lower, as overall structure remains bearish and initial signal of more significant downside extension, was given by cracking monthly bearish wedge pattern’s support line, which lies at 1.0895.
Also, daily 10/200SMA Death Cross is forming at 1.1108 and signals increased pressure.
Expect corrective rallies to be ideally capped at 1.1072, bear-trendline that connects 1.1712 and 1.1458 peaks.
Only sustained break above 200SMA would sideline near-term bears, in favor of stronger correction.


Res: 1.1023; 1.1072; 1.1094; 1.1108
Sup: 1.0964; 1.0923; 1.0895; 1.0862






GBPUSD

Near-term price action is moving in corrective mode, signaled by yesterday’s Outside Day candle and today’s fresh extension higher that probes above 200SMA at 1.5335, also near Fibonacci 38.2% of 1.5504/1.5240 downleg.
Initial basing signal could be expected on sustained break here, as the action is signaled by daily slow Stochastic, reversing from oversold zone.
However, near-term studies are still weak, with bearish daily technicals, seeing current action as limited correction, preceding fresh attempts lower.
Significant barriers lay at 1.5372, daily Tenkan-sen, ahead of psychological 1.54 barrier, also Fibonacci 61.8% of 1.5504/1.5240, marking initial pivot and guarding daily Ichimoku cloud base, now lowered to 1.5463.

Res: 1.5372; 1.5403; 1.5463; 1.5506
Sup: 1.5307; 1.5285; 1.5240; 1.5200







USDJPY

Fresh bearish acceleration and return into daily Ichimoku cloud, signals repeated upside stall. Recovery action today, spiked at 121.46, previous peaks 23/26 Oct, which acts as strong resistance and caps for now.
This would signal prolonged consolidation phase, which is now entrenched within 120.00/121.46 range, before the price action establishes in fresh direction.
Bullishly aligned daily technicals, still keep the upside in focus; however, weakening near-term studies, maintain downside risk.
Break below range floor, also daily Ichimoku cloud base, reinforced by daily 20SMA, would trigger fresh weakness and confirm near-term platform at 121.46.

Res: 121.00; 121.25; 121.46; 121.64
Sup: 120.15; 120.00; 119.60; 119.35





AUDUSD

Near-term price action moves in narrow consolidation, after posting fresh low at 0.7064 yesterday and closing below daily Ichimoku clod base and 0.7105, Fibonacci 61.8% retracement of 0.6935/0.7380 upleg.
Daily bears are firming for further downside attempts that focus psychological 0.7000 support and see key 0.6935/ 05 supports in extension.
Daily cloud base offers good resistance and should ideally cap consolidation.
Only acceleration through 0.7196, daily cloud top, would question bears.

Res: 0.7135; 0.7179; 0.7196; 0.7218
Sup: 0.7076; 0.7040; 0.7000; 0.6935