EUR/USD

The Euro failed to materialize brief break above 1.2300 handle, as 55 day EMA continues to limit the upside, after the pair posted fresh high of the day at 1.2315. Reversal under 1.2300, with price action being congested within 1.2270 and 1.2315 range, keeps the initial supports at 1.2270/60 zone still under pressure, as hourly indicators descending and 4h ones starting to move sideways and unable to clearly break into positive territory. Loss of 1.2260 support, also Fib 38.2% of 1.2174/1.2315 upleg, would increase downside pressure, however, ability to hold above the latter would keep hopes of fresh extension higher, with clearance of 1.2300/15 that will open 1.2335/66 next, required to confirm short-term bulls and open way for stronger recovery.

Res: 1.2300, 1.2311, 1.2335, 1.2366
Sup: 1.2270, 1.2260, 1.2243, 1.2226

eurusd



GBP/USD

Cable holds above important 1.5600 handle, however, near-term structure remains fragile, as hourly indicators have lost momentum and moving downwards. Immediate risk is seen on a break below 1.5600, also near 50% of 1.5516/1.5677 upleg that would delay short-term bulls in favor of stronger pullback, as trendline resistance at 1.5650 and high of the day at 1.5677 stay intact. Firm break here to resume short-term bulls towards 1.5700/21 and key 200 day MA at 1.5750.

Res: 1.5650, 1.5677, 1.5700, 1.5721
Sup: 1.5604, 1.5592, 1.5576, 1.5516

gbpusd


USD/JPY

Near-term recovery off yesterday’s fresh low at 78.67, after the pair broke below range floor and 200 day MA, regains important 79.00 barrier, to test the next layer of resistances at 79.15 zone. Improvement in hourly structure, sees potential for further extension higher, with regain of key short-term levels at 79.30 and 79.50, required to avert downside risk, otherwise risk of lower top and fresh weakness exists, as indicators on 4h chart remain in the negative territory.

Res: 79.16, 79.38, 79.38, 79.50
Sup: 79.00, 78.80, 78.67, 78.60

usdjpy


AUD/USD

Maintains positive short-term structure, after break above 1.0250 barrier, briefly broke above psychological 1.0300, en-route to key short-term resistance at 1.0326, 05 July high. Corrective easing on overbought hourly conditions, should be contained at 1.0250/30 zone, to keep structure intact, as larger picture positive studies keep the upside in focus. Lift above 1.0326 breakpoint to open way for further retracement of larger 1.0855/0.9579 descend and expose Fib 61.8% at 1.0368, ahead of psychological 1.0400 barrier. Near-term risk would be seen on key 1.0200 support that will sideline bulls.

Res : 1.0300, 1.0307, 1.0326, 1.0368
Sup : 1.0274, 1.0258, 1.0228, 1.0200

audusd