EURUSD - strong 1.1152/42 support under pressure

EURUSD

The Euro holds just above strong support zone at 1.1.1152/42 (daily Ichimoku cloud top / Fibo 38.2% of1.0820/1.1341 rally). This is seen as ideal reversal point for correction from 1.1341 (17 Mar top), to keep intact overall bullish structure. The notion is supported by bullishly aligned daily 20, 30, 55SMA’s and Momentum studies.
Initial signals of reversal need sustained break above 1.12 barrier, reinforced by daily Tenkan-sen line, to sideline persisting downside risk, driven by strength of US dollar.
Otherwise, violation of 1.1152/42 pivots, would extend existing downtrend from 1.1341 towards next strong support at 1.1080 (daily 20SMA / Kijun-sen / 50% retracement of 1.0820/1.1341).


Res: 1.1200; 1.1221; 1.1245; 1.1267
Sup: 1.1142; 1.1080; 1.1042; 1.1019






GBPUSD

Cable remains under strong pressure and extends three-day bear-run off 1.4512 peak, approaching key near-term support at 1.4051 (higher low of 16 Mar). Daily technicals turned into full bearish mode and favor further easing. The pair broke below 1.4092 (Fibo 61.8% of 1.3834/1.4512 upleg), with daily close below, required to confirm bearish resumption.
However, hesitation at 1.4051 pivot could be anticipated, as daily Slow Stochastic entered oversold zone, but no bullish signal being generated so far.
Offers lay at 1.4175 (daily Tenkan-sen) and 1.4200 (daily 20SMA).
Only bounce above 1.4280 (daily Tenkan-sen) would neutralize downside threats.

Res: 1.4117; 1.4174; 1.4200; 1.4280
Sup: 1.4051; 1.4000; 1.3950; 1.3912






USDCAD

The pair bounces on extended weakness of crude oil, with yesterday’s strong daily rise and close above 10SMA at 1.3154, generating bullish signal for further recovery.
Fresh strength cracks next strong barrier at 1.3280 (daily 20SMA / Fibo 38.2% of 1.3857/1.2921), eyeing 200SMA at 1.3333, which marks next pivot.
Strong ascend of daily indicators suggest extended correction, which needs break above 200SMA and lower platform at 1.3440, to be confirmed.
Broken 10SMA now offers initial support at 1.3155, while former consolidation floor at 1.3026 marks pivotal support, loss of which would revive near-term bears.

Res: 1.3300; 1.3333; 1.3389; 1.3440
Sup : 1.3220; 1.3185; 1.3155; 1.3100






AUDUSD

Aussie came under pressure on yesterday’s fresh weakness that closed below daily 10SMA at 0.7553 and left long red daily candle with long upper shadow. Today’s fresh bearish extension below 0.75 handle, eyes 0.7460 (Fibo 38.2% of 0.7106/0.7678 upleg) and 0.7443 (rising daily 20SMA), which mark downside triggers for stronger correction.
Bearish near-term technicals and south-heading daily indicators are supportive for further easing, which may expose key near-term support at 0.7352 (weekly Ichimoku cloud base).
Broken 10SMA marks initial resistance at 0.7553, ahead of lower platform at 0.7645, regain of which to confirm an end of corrective phase.

Res: 0.7535; 0.7553; 0.7600; 0.7645
Sup: 0.7460; 0.7443; 0.7392; 0.7352