AUDUSD - bulls eye 200SMA barrier at 0.7278

EURUSD

The Euro eventually broke strong 200SMA support and slid to psychological 1.1000 support, on yesterday’s bearish acceleration. Slower EU growth, Brexit fears and expectations of ECB’s next action, weigh on the single currency, which is also pressured by negative technicals.
Yesterday’s fall that closed below 200SMA, failed to clear 30SMA, which was cracked and still acts as support.
Overnight’s action was entrenched between 30 and 200SMA’s in narrow consolidation, with near-term focus at the downside.
However, strong bids lay at 1.10 zone and prolonged consolidation above here, could be anticipated, before final push through 1.10 handle, which will open 1.0963 (Fibo 61.8% of 1.0709/1.1374, reinforced by 100SMA), and daily Ichimoku cloud top at 1.0888, seen in extension.
On the upside, 200SMA marks initial barrier, which so far caps, with extension higher to open 1.1098 (daily 20SMA) and key barrier at 1.1140 (former consolidation range top / Fibonacci 38.2% of 1.1374/1.1002 descend), which is expected to limit stronger recovery attempts.

Res: 1.1049; 1.1070; 1.1098; 1.1140
Sup: 1.1022; 1.1000; 1.0963; 1.0888








GBPUSD

Cable tumbled yesterday, posting the biggest daily fall in nearly six years. Bearish acceleration, inspired by increased Brexit fears, started with gap-lower weekly open and fell to fresh multi-year low at 1.4055, after cracking former low at 1.4078, posted on 21 Jan.
Failure to close below 1.4078 pivot, suggests extended consolidation, before bears re-assert for fresh attempts towards 1.4055 low and psychological 1.4000 support, below which there is no significant obstacle until 1.3680, low of June 2001, which guards key long-term support at 1.3501, Jan 2009 low.
The pair showed no significant upside potential for now, as recovery attempts hold below initial barrier at 1.4181 (Fibonacci 38.2% of 1.4385/1.4055 downleg, keeping pivotal 1.4250 barrier (former 17/19 Feb consolidation floor / near Fibonacci 61.8% of 1.4385/1.4055 downleg) out of reach, for now.
Daily MA’s hold in firm bearish setup and formed double bear-cross (10/20 and 10/SMA’s), which maintains downside pressure.

Res: 1.4166; 1.4181; 1.4250; 1.4302
Sup: 1.4078; 1.4055; 1.3945; 1.3900








USDJPY

The pair came under pressure again and probed below 112 handle on overnights acceleration lower, after recovery attempt was capped at 113.37, broken Fibonacci 38.2% of 110.97/114.85 upleg / last Friday’s high.
Extension of the downleg from 114.85, 16 Feb correction high, broke below 112.45, Fibonacci 61.8% of 110.97/114.85 and cracked 111.88, Fibonacci 76.4% retracement, confirming an end of corrective phase from 110.97, 11 Feb low.
The sole obstacle en-route to 110.97 pivot lies at 111.64, higher low of 12 Feb, with full retracement of 110.97/114.85 upleg, seen as likely near-term scenario.
Hourly Ichimoku cloud base offers initial resistance at 112.73; with falling daily 10SMA, which capped past five-day descend and reinforces hourly cloud top at 113.20, expected to cap extended recovery attempts.

Res: 112.73; 113.20; 113.37; 114.00
Sup : 111.84; 111.64; 110.97; 110.00






AUDUSD

The pair consolidates yesterday’s strong rally that cracked former top at 0.7241, posted on 04 Feb and fully retraced 0.7241/0.6972 correction.
North-heading daily indicators and MA’s in firm bullish setup, suggest further upside and test of immediate barrier at 0.7278, falling 200SMA, above which, there will be open way towards 0.7325, lower top of 31 Dec 2015 and 0.7383/76 zone, 04 Dec 2015 peak / weekly Ichimoku cloud base, in extension.
Corrective dips should be ideally contained above 0.7150, where bull-cross of daily 10/100SMA’s is forming.

Res: 0.7245; 0.7278; 0.7325; 0.7383
Sup: 0.7210; 0.7177; 0.7150; 0.7133