Corrective easing off 1.3170 high has found temporary footstep at 1.3030 zone, channel support, however, upside action lacks momentum for clearance of 1.3080/1.3100 barriers, to avoid near-term downside risk. With hourly indicators in the negative territory, the downside remains vulnerable, as loss of initial 1.3030 and 1.3000, also 50% retracement support, would trigger extension towards important 1.2900 support, Fib 38.2% of 1.2500/1.3170 upleg / and 4h 55 day EMA. Conversely, lift above 1.3100 to re-focus upper boundaries.
Res: 1.3080, 1.3100, 1.3120, 1.3139
Sup: 1.3028, 1.3000, 1.2975, 1.2934
The pair remains well supported, as the consolidative phase holds in a narrow range and just below fresh high at 1.6272. Near-term target and 30 Apr swing top at 1.6300 remains in near-term focus, as hourly studies move above their midlines. However, overbought larger picture’s conditions still see risk of stronger reversal, with loss of initial supports at 1.6220/00, required to confirm.
Res: 1.6272, 1.6300, 1.6340, 1.6400
Sup: 1.6220, 1.6200, 1.6184, 1.6150
The pair extends its corrective rally from 77.12 low, as fresh gains from 78.50 higher base, penetrated through important 79.00 zone barrier. Emerging above daily Ichimoku cloud top at 79.20, the price faces immediate barrier at 79.30, 200 day MA, break of which to confirm near-term bottom and positive stance for possible extension towards 79.65, 20 Aug peak. Previous tops at 78.90 zone now offer initial support, with 4h 20 day EMA, underpinning the advance.
Res: 79.21, 79.30, 79.50, 79.65
Sup: 79.00, 78.90, 78.55, 78.23
The pair continues to move in a consolidative sideways mode, with near-term price action being entrenched within a narrow range, just above last Friday’s fresh low at 0.9237. Neutral hourly studies suggest further consolidation, as 20 day EMA caps just below 0.9300 handle, with break here required to spark stronger upside action, as 4h studies are emerging from oversold zone. Regain of 0.9350/0.9400 would signal correction under way, otherwise fresh bears would threat 0.9200/0.9180, initially.
Res: 0.9295, 0.9300, 0.9311, 0.9339
Sup: 0.9258, 0.9237, 0.9200, 0.9180