EURJPY
The pair maintains negative tone and extends descend off 139.26, 03 July lower high. Fresh acceleration lower eventually cleared psychological 138 support and fully retraced 137.68/139.26 ascend, with attempts below 137.68 base, signaling resumption of larger downtrend from 142.35, 08 May high and possible extension to key short term support at 136.21, 02 Feb higher low. Overall negative technicals support the notion, however, oversold near-term conditions see corrective action to follow sharp fall, before bears take control again. Round-figure 138 level, now offers initial resistance, with stronger rallies expected to ideally hold below 138.74, lower top and yesterday’s high.
Res: 138.00; 138.21; 138.74; 139.00
Sup: 137.56; 137.00; 136.50; 136.21
GBPJPY
The pair extends near-term corrective phase, breaking below main bull-trendline off 169.52 low and retracing over 38.2% of entire 169.52/175.33 rally. Fresh acceleration lower weakened near-term technical, as bears took control on lower timeframes studies and see further easing as favored near-term scenario. Price’s probe below psychological 173 support, signals final push lower for completion of 172.34/175.33 upleg, higher low of 30 June and near 50% retracement of 169.52/172.33 rally. Daily technicals are descending off overbought zone and losing momentum, which supports further weakness in the near-term.
Res: 173.69; 174.00; 174.40; 174.81
Sup: 172.93; 172.34; 172.00; 171.73
EURGBP
The pair enters near-term corrective phase off 0.7913 low of 07 July, where larger rally takes a breather, ahead of psychological 0.79 support. Overall picture remains firmly bearish, as the pair heads towards key med-term support and target at 0.7755, low of July 2012 and near Fibonacci 61.8% retracement of 2007/2008 0.6534/0.9802 ascend . Eventual completion of 0.7755/0.8813 ascend, to signal resumption of larger multi-year downtrend off 0.9802 peak. Corrective actions should find ideal limit near 0.9870 zone, previous lows and 61.8% retracement of 0.8031/0.7913 descend, to keep bears intact. Key near-term resistance and breakpoint lies at 0.8031, 26 June lower top.
Res: 0.7970; 0.8000; 0.8031; 0.8075
Sup: 0.7924; 0.7913; 0.7886; 0.7811
AUD/NZD
The pair continues to trend lower, after losing 1.07 handle, which now acts as resistance and capped corrective attempts. Full retracement of 1.0644/1.1030 upleg and break below 1.0644, 06 May low, came ticks away from 1.0615, Fibonacci 76.4% of 1.0488/1.1030 ascend and eyes psychological 1.06 support, on the way short-term target at 1.0534, 12 March higher low. Bearish studies favor further weakness, which could be interrupted by corrective rallies on oversold near-term conditions. Only break above 1.0729 lower top would delay immediate bears and expose key near-term key barrier and break point at 1.0830 zone.
Res: 1.0655; 1.0670; 1.0700; 1.0729
Sup: 1.0619; 1.0600; 1.0550; 1.0534
The pair maintains negative tone and extends descend off 139.26, 03 July lower high. Fresh acceleration lower eventually cleared psychological 138 support and fully retraced 137.68/139.26 ascend, with attempts below 137.68 base, signaling resumption of larger downtrend from 142.35, 08 May high and possible extension to key short term support at 136.21, 02 Feb higher low. Overall negative technicals support the notion, however, oversold near-term conditions see corrective action to follow sharp fall, before bears take control again. Round-figure 138 level, now offers initial resistance, with stronger rallies expected to ideally hold below 138.74, lower top and yesterday’s high.
Res: 138.00; 138.21; 138.74; 139.00
Sup: 137.56; 137.00; 136.50; 136.21
GBPJPY
The pair extends near-term corrective phase, breaking below main bull-trendline off 169.52 low and retracing over 38.2% of entire 169.52/175.33 rally. Fresh acceleration lower weakened near-term technical, as bears took control on lower timeframes studies and see further easing as favored near-term scenario. Price’s probe below psychological 173 support, signals final push lower for completion of 172.34/175.33 upleg, higher low of 30 June and near 50% retracement of 169.52/172.33 rally. Daily technicals are descending off overbought zone and losing momentum, which supports further weakness in the near-term.
Res: 173.69; 174.00; 174.40; 174.81
Sup: 172.93; 172.34; 172.00; 171.73
EURGBP
The pair enters near-term corrective phase off 0.7913 low of 07 July, where larger rally takes a breather, ahead of psychological 0.79 support. Overall picture remains firmly bearish, as the pair heads towards key med-term support and target at 0.7755, low of July 2012 and near Fibonacci 61.8% retracement of 2007/2008 0.6534/0.9802 ascend . Eventual completion of 0.7755/0.8813 ascend, to signal resumption of larger multi-year downtrend off 0.9802 peak. Corrective actions should find ideal limit near 0.9870 zone, previous lows and 61.8% retracement of 0.8031/0.7913 descend, to keep bears intact. Key near-term resistance and breakpoint lies at 0.8031, 26 June lower top.
Res: 0.7970; 0.8000; 0.8031; 0.8075
Sup: 0.7924; 0.7913; 0.7886; 0.7811
AUD/NZD
The pair continues to trend lower, after losing 1.07 handle, which now acts as resistance and capped corrective attempts. Full retracement of 1.0644/1.1030 upleg and break below 1.0644, 06 May low, came ticks away from 1.0615, Fibonacci 76.4% of 1.0488/1.1030 ascend and eyes psychological 1.06 support, on the way short-term target at 1.0534, 12 March higher low. Bearish studies favor further weakness, which could be interrupted by corrective rallies on oversold near-term conditions. Only break above 1.0729 lower top would delay immediate bears and expose key near-term key barrier and break point at 1.0830 zone.
Res: 1.0655; 1.0670; 1.0700; 1.0729
Sup: 1.0619; 1.0600; 1.0550; 1.0534
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