EURUSD
The Euro came ticks away from 1.35 base and breakpoint, maintaining overall bearish tone and looking for eventual break of strong 1.3500/1.3475 support zone. The pair consolidates recent descend off 1.3639 lower top, as yesterday’s Doji candle shows a pause in the downtrend. Stronger rallies cannot be ruled out, as 4-hour studies are oversold, with ideal reversal points seen at 1.3560/75 zone, Fibonacci 38.2% and 50% retracement of 1.3639/1.3510 descend / 16 July lower platform and previous low of 07 July, before fresh push lower for full retracement of 1.3502/1.3699 ascend.
Res: 1.3538; 1.3560; 1.3575; 1.3585
Sup: 1.3510; 1.3502; 1.3470; 1.3440
GBPUSD
Cable extended corrective phase off fresh high at 1.7189 and cracked psychological 1.71 support. This sees renewed attempts at lows of near-term range returning to play, with sustained break below 1.71 handle to signal false break higher. Weak near-term technicals support the notion, with daily close below 1.71 and attack at 1.7057, 15 July fresh low, to open way for fresh retracement of 1.6697/1.7189 upleg. Otherwise, return to range’s mid-point and regain of lower platform at 1.7140 zone, would improve near-term structure and re-focus upper targets, as overall picture remains bullish.
Res: 1.7113; 1.7148; 1.7166; 1.7189
Sup: 1.7081; 1.7068; 1.7057; 1.7000
USDJPY
The pair lost traction after recovery rally off 101.05 stalled on approach to 101.85/102 resistance zone, where rallies were capped by descending daily 20 SMA and 20/200SMA death cross. Fresh acceleration lower has nearly fully retraced 101.05/101.78 upleg, signaling that recovery is over and fresh attack at critical 100.81/74 support could be expected. Technical are bearish overall and support bearish scenario, with hesitation ahead of 101 handle, expected to precede fresh weakness. Breakpoints at 101.85/102 are capping the upside and only break here would provide relief.
Res: 101.39; 101.56; 101.78; 101.85
Sup: 101.05; 100.81; 100.74; 100.00
AUDUSD
The pair trades in near-term range mode after upside attempts were limited at 0.94 zone and strong 0.9320 support and short-term base, also daily cloud top, keeps the downside protected for now. However, negative tone prevails on near-term studies and keeps risk at the downside, as daily studies are losing traction. Eventual break below pivotal 0.9320 support, to confirm extension of pullback from 0.9503 peak, towards initial 0.93 support and 0.9280, 76.4% retracement and key short term support and higher base at 0.92 zone, expected to come in focus.
Only break above 0.94 barrier would provide relief.
Res: 0.9389; 0.9407; 0.9429; 0.9454
Sup: 0.9327; 0.9320; 0.9300; 0.9250
The Euro came ticks away from 1.35 base and breakpoint, maintaining overall bearish tone and looking for eventual break of strong 1.3500/1.3475 support zone. The pair consolidates recent descend off 1.3639 lower top, as yesterday’s Doji candle shows a pause in the downtrend. Stronger rallies cannot be ruled out, as 4-hour studies are oversold, with ideal reversal points seen at 1.3560/75 zone, Fibonacci 38.2% and 50% retracement of 1.3639/1.3510 descend / 16 July lower platform and previous low of 07 July, before fresh push lower for full retracement of 1.3502/1.3699 ascend.
Res: 1.3538; 1.3560; 1.3575; 1.3585
Sup: 1.3510; 1.3502; 1.3470; 1.3440
GBPUSD
Cable extended corrective phase off fresh high at 1.7189 and cracked psychological 1.71 support. This sees renewed attempts at lows of near-term range returning to play, with sustained break below 1.71 handle to signal false break higher. Weak near-term technicals support the notion, with daily close below 1.71 and attack at 1.7057, 15 July fresh low, to open way for fresh retracement of 1.6697/1.7189 upleg. Otherwise, return to range’s mid-point and regain of lower platform at 1.7140 zone, would improve near-term structure and re-focus upper targets, as overall picture remains bullish.
Res: 1.7113; 1.7148; 1.7166; 1.7189
Sup: 1.7081; 1.7068; 1.7057; 1.7000
USDJPY
The pair lost traction after recovery rally off 101.05 stalled on approach to 101.85/102 resistance zone, where rallies were capped by descending daily 20 SMA and 20/200SMA death cross. Fresh acceleration lower has nearly fully retraced 101.05/101.78 upleg, signaling that recovery is over and fresh attack at critical 100.81/74 support could be expected. Technical are bearish overall and support bearish scenario, with hesitation ahead of 101 handle, expected to precede fresh weakness. Breakpoints at 101.85/102 are capping the upside and only break here would provide relief.
Res: 101.39; 101.56; 101.78; 101.85
Sup: 101.05; 100.81; 100.74; 100.00
AUDUSD
The pair trades in near-term range mode after upside attempts were limited at 0.94 zone and strong 0.9320 support and short-term base, also daily cloud top, keeps the downside protected for now. However, negative tone prevails on near-term studies and keeps risk at the downside, as daily studies are losing traction. Eventual break below pivotal 0.9320 support, to confirm extension of pullback from 0.9503 peak, towards initial 0.93 support and 0.9280, 76.4% retracement and key short term support and higher base at 0.92 zone, expected to come in focus.
Only break above 0.94 barrier would provide relief.
Res: 0.9389; 0.9407; 0.9429; 0.9454
Sup: 0.9327; 0.9320; 0.9300; 0.9250
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