EURUSD
The Euro cracked the upside border of a week-long 1.3000/1.3205 consolidation range, on Monday’s extension above 1.3205, 11/07 high. Positively aligned short-term studies are supportive for clear break above 1.3205 that is required to resume larger rally from 1.2754, 09/07 low, for test of the next barrier at 1.3255, 23/06 high / Fibonacci 76.4% of 1.3414/1.2754 descend and 1.3300, round figure resistance. Corrective dips should be ideally contained at 1.3050, strong support zone, Fibonacci 38.2% of 1.3066/1.3217 / Bull-trendline off 1.3066, 18/07 low, however, further easing should not exceed 1.3100, psychological support / 50% retracement of 1.2992/1.3217 and daily Ichimoku cloud base, to keep short-term bulls intact.
Res: 1.3205; 1.3217; 1.3258; 1.3300
Sup: 1.3180; 1.3160; 1.3142; 1.3120
GBPUSD
Cable accelerated higher from Monday’s higher base at 1.5260, clearing psychological 1.5300 barrier and extended rally close to 1.5400. With daily cloud base at 1.5372 being dented, price approached 1.5392, Fibonacci 61.8% of 1.5751/1.4812 fall, setting scope for extension through 1.5400 that would focus 1.5439/76, 26/25 / 06 highs. Positive tone prevails on lower timeframes technicals, with pause in the rally seen on overbought 1 and 4-hour studies. Previous strong resistance at 1.5300 now offers initial support, with deeper dips expected to hold above 1.5250, Fibonacci 38.2% of 1.5043/1.5383 upleg / bull trendline off 1.4812 low.
Res: 1.5383; 1.5400; 1.5439; 1.5476
Sup: 1.5340; 1.5300; 1.5263; 1.5250
USDJPY
The pair came under increased pressure after Monday’s acceleration lower broke below pivotal 99.50 support, 50% retracement of 98.22/100.85 upleg / bull-trendline drawn off 98.22 low. The price continues to trend lower, with break below bear-channel support, extending through Fibonacci 61.8% retracement at 99.22 and approaching psychological 90.00 support. Prevailing negative tone keeps the downside risk in play for fresh bearish extension through 99.00/98.88 supports. Psychological 100 level offers initial resistance and should ideally cap corrective rallies.
Res: 99.66; 99.85; 100.00; 100.47
Sup: 99.13; 99.00, 98.88; 98.56
AUDUSD
The pair remains within 0.9000/0.9300 range, with short-term studies being positively aligned, as the price approached upper targets at 0.9290, previous week’s high and 0.9304, 11/07 high / Fibonacci 38.2% retracement of 0.9790/0.8997 downleg. Break here and through 0.9340, 26/27 / 06 highs, is required to signal short-term base and trigger extension of recovery from 0.8997 low. Conversely, holding below 0.9300, would open way for prolonged sideways trading and increase downside risk, with violation of 0.9136 higher base, expected to focus lower range boundaries.
Res: 0.9290; 0.9304; 0.9343; 0.9392
Sup: 0.9240; 0.9200; 0.9173, 0.9136
The Euro cracked the upside border of a week-long 1.3000/1.3205 consolidation range, on Monday’s extension above 1.3205, 11/07 high. Positively aligned short-term studies are supportive for clear break above 1.3205 that is required to resume larger rally from 1.2754, 09/07 low, for test of the next barrier at 1.3255, 23/06 high / Fibonacci 76.4% of 1.3414/1.2754 descend and 1.3300, round figure resistance. Corrective dips should be ideally contained at 1.3050, strong support zone, Fibonacci 38.2% of 1.3066/1.3217 / Bull-trendline off 1.3066, 18/07 low, however, further easing should not exceed 1.3100, psychological support / 50% retracement of 1.2992/1.3217 and daily Ichimoku cloud base, to keep short-term bulls intact.
Res: 1.3205; 1.3217; 1.3258; 1.3300
Sup: 1.3180; 1.3160; 1.3142; 1.3120
GBPUSD
Cable accelerated higher from Monday’s higher base at 1.5260, clearing psychological 1.5300 barrier and extended rally close to 1.5400. With daily cloud base at 1.5372 being dented, price approached 1.5392, Fibonacci 61.8% of 1.5751/1.4812 fall, setting scope for extension through 1.5400 that would focus 1.5439/76, 26/25 / 06 highs. Positive tone prevails on lower timeframes technicals, with pause in the rally seen on overbought 1 and 4-hour studies. Previous strong resistance at 1.5300 now offers initial support, with deeper dips expected to hold above 1.5250, Fibonacci 38.2% of 1.5043/1.5383 upleg / bull trendline off 1.4812 low.
Res: 1.5383; 1.5400; 1.5439; 1.5476
Sup: 1.5340; 1.5300; 1.5263; 1.5250
USDJPY
The pair came under increased pressure after Monday’s acceleration lower broke below pivotal 99.50 support, 50% retracement of 98.22/100.85 upleg / bull-trendline drawn off 98.22 low. The price continues to trend lower, with break below bear-channel support, extending through Fibonacci 61.8% retracement at 99.22 and approaching psychological 90.00 support. Prevailing negative tone keeps the downside risk in play for fresh bearish extension through 99.00/98.88 supports. Psychological 100 level offers initial resistance and should ideally cap corrective rallies.
Res: 99.66; 99.85; 100.00; 100.47
Sup: 99.13; 99.00, 98.88; 98.56
AUDUSD
The pair remains within 0.9000/0.9300 range, with short-term studies being positively aligned, as the price approached upper targets at 0.9290, previous week’s high and 0.9304, 11/07 high / Fibonacci 38.2% retracement of 0.9790/0.8997 downleg. Break here and through 0.9340, 26/27 / 06 highs, is required to signal short-term base and trigger extension of recovery from 0.8997 low. Conversely, holding below 0.9300, would open way for prolonged sideways trading and increase downside risk, with violation of 0.9136 higher base, expected to focus lower range boundaries.
Res: 0.9290; 0.9304; 0.9343; 0.9392
Sup: 0.9240; 0.9200; 0.9173, 0.9136
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