EURUSD below 200SMA, pressures 1.10 and eyes 1.0963, Fibo 61.8% support

EURUSD

Bearish acceleration that commenced at the beginning of European session broke initial support at 1.1070, daily Kijun-sen / former hourly base and took out more significant 200SMA, which previously acted as strong support.
Extension below 1.1051 cracked next target at 1.1016, rising daily 30SMA and eyes psychological 1.1000 support.
We look for daily close below 200SMA to confirm bearish stance and signal probe below 1.10 handle, towards next strong support at 1.0963, Fibonacci 61.8% of 1.0709/1.1374 rally, reinforced by 100SMA.
However, daily Slow Stochastic is oversold and bullish signal on reversal higher, could be anticipated.
Former supports at 1.0951/70, now act as initial resistances, which guard pivotal barrier at 1.1140, former consolidation top, which is expected to limit stronger corrective attempts.


Res: 1.1051; 1.1070; 1.1122; 1.1140
Sup: 1.1000; 1.0963; 1.0900; 1.0865








GBPUSD

Cable started the week with approx 120 gap-lower, on increased concerns that Britain would leave European Union, following comments of influential London Major Boris Johnson, who supported Brexit campaign. Johnson’s comments offset positive sentiment, gained on Friday’s EU-UK agreement, which aimed to keep Britain in the bloc.
Bearish acceleration after choppy consolidation in Asia, surged through initial supports at 1.4147/1.4100 and cracked key support at 1.4078, 21 Jan former low. Corrective phase from 1.4078 to 1.4665 has been completed and close below 1.4078 will confirm break for fresh extension of the downleg from 1.4665, lower top of 04 Feb.
Daily studies hold firm bearish setup and favor extension of the second leg of larger downtrend from 1.7189, peak of 15 July 2014, towards 1.3680, low of June 2001 an key long-term support at 1.3501, low of 23 Jan 2009, which is coming in short-term focus.
Former base at 1.4233/45 zone, lows of 17/19 Feb, is expected to ideally cap recovery attempts.

Res: 1.4133; 1.4180; 1.4245; 1.4303
Sup: 1.4055; 1.4000; 1.3945; 1.3900








USDJPY

The pair is in near-term recovery mode, off Friday’s low at 112.29, which was posted on two-day bearish acceleration, which extended pullback from 114.85, 16 Feb high.
Fresh bullish acceleration left inversed hourly H&S pattern, which signals extension towards measured levels at 113.65/85, Fibonacci 138.2% and 161.8% expansion of the wave C that commenced from 112.68, today’s low, as a part of five-wave rally from 112.29 low.
Near-term technicals are gaining traction, however, larger picture remains firmly bearish and signals limited recovery while initial barrier, falling daily 10SMA at 113.56, which capped past four-day descend, stays intact.
Otherwise, daily close above 10SMA, will form bullish Outside Day reversal pattern and signal possible stronger recovery.
Today’s low at 112.68, is expected to contain extended dips and keep fresh near-term bulls in play.
Res: 113.56; 113.65; 113.85; 114.30
Sup : 113.00; 112.68; 112.29; 111.65








AUDUSD

The Aussie remains well supported in the near-term and extends bull-leg off 0.7067, low of last Friday, through former recovery high at 0.7185. Fresh strength cracked psychological 0.7200 barrier and looks for final push towards key near-term barrier at 0.7241, 04 Feb former recovery top.
Regain of the latter is needed to confirm completion of 0.7241/0.6972 corrective phase and signal resumption of recovery rally from 0.6825, low of 15 Jan.
Daily studies are in firm bullish setup, with additional bullish signal being given by Friday’s long-tailed daily candle, which confirmed persisting buying interest.
Rising daily 10SMA underpins the action at 0.7129, followed by 20SMA at 0.7107, which reinforces pivotal support, daily Ichimoku cloud top.

Res: 0.7241; 0.7282; 0.7325; 0.7383
Sup: 0.7185; 0.7160; 0.7129; 0.7107