EUR/USD

The Euro remains under pressure, following today’s rejection under 1.3000 barrier and sharp fall that tested 1.2900, figure / trendline support / 4h Senkou span A. Bounce from here failed to sustain gains, despite regaining 1.2960, Fib 61.8% of 1.2990/1.2900 descend and Asian session low, as hourly studies hold in the negative zone and descending 20 day EMA capping gains for now. As 4h chart studies are attempting below the midlines and price slides below MA’s, day’s low at 1.2900 remains in focus, with break here to spark fresh weakness and possible test of key near-term supports at 1.2825/00, 200 day MA / 01 Oct low. Any further bounce requires break above 1.3000, psychological barrier and Fib 61.8% of larger 1.3070/1.2900 descend, to ease immediate bear-pressure.

Res: 1.2960, 1.2990, 1.3000, 1.3030
Sup: 1.2900, 1.2875, 1.2825, 1.2800

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GBP/USD

Cable undergoes near-term consolidative action, following fresh bearish extension and test of psychological 1.6000 support. Overall negative tone keeps near-term focus at the downside, however, oversold conditions on 1 & 4h charts, do not rule out further correction, before bears re-assert. Previous low at 1.6066 and round figure resistance at 1.6100, offer solid barriers and are expected to cap any bounce, before bears take control. Loss of 1.6000 to open another important hurdle at 1.5910/00, previous high of 23 Aug / Fib 38.2% of 1.5267/1.6308 and 55 day MA.

Res: 1.6045, 1.6066, 1.6100 1.6140
Sup: 1.6000, 1.5958, 1.5910, 1.5900

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USD/JPY

The pair remains under pressure, moving within a narrowing range, with 78.00 still holding the downside, but gains being limited by descending 55 day EMA, approx 38.2% of 78.86/78.07 downleg. Slight improvement on hourly studies, still needs to see break above minimum 78.40/60 zone, tentative bear-trendline / Fibonacci resistance, to re-focus upper barriers at 78.86 and 79.00, ahead of key hurdles at 79.21/32. Otherwise, slide through 78.20, day’s low and pivotal 78.00, would spark fresh weakness and re-open 77.42 and 77.12 lows.

Res: 78.40, 78.59, 78.71, 78.86
Sup: 78.20, 78.07, 78.00, 77.78

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USD/CHF

Penetration through 0.9350 barrier that kept the upside capped from yesterday, as well al Ichimoku cloud top at 0.9380, sees potential for attack at key resistance zone at 0.9400/36, 200 day MA / 01 Oct top, to confirm near-term base and allow for stronger recovery of larger 0.9970/0.9237 descend. With positive hourly studies that started to point higher and 4h indicators emerging above the centrelines, break and close above 0.9400 would be a good signal for further extension higher. Only break below day’s low at 0.9320, would delay bulls.

Res: 0.9383, 0.9400, 0.9416, 0.9436
Sup: 0.9343, 0.9320, 0.9300, 0.9273

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