EURJPY
The pair came under increased pressure and accelerated pullback from 22 Aug fresh high at 137.98, to test psychological 137 support, the upper border of pivotal 137.00/136.80 support zone, where temporary footstep was found. Near-term structure weakened on a break below bull-trendline drawn off 135.71 at 137.30, which increases risk of further retracement of 135.71/137.98 upleg, confirmation of which requires break below 136.80 higher base also rally’s mid-point. Reversal signaled by daily bearish engulfing pattern, requires confirmation on a break and close below 136.80, to complete Three Black Crows reversal pattern. Alternatively, formation of higher low above 136.80, would keep alive renewed attempts at 138 resistance zone, break of which is required to confirm near-term bottom and resume recovery action off 135.71 low.
Res: 137.30; 137.65; 138.01; 138.25
Sup: 137.00; 136.80; 136.57; 136.35
GBPJPY
Near term price action remains supported and maintains positive tone, after the pair posted fresh high at 172.65, below which consolidative phase is under way. With pivotal resistance and former peak of 13 Aug at 172.56, being cracked, break here and 172.73, Fibonacci 61.8% of 174.17/170.40 descend, is required to confirm higher low at 170.40 for further recovery towards the next significant barrier at 174.17, 30 July peak. Interim barriers en-route, lay at 172.90, daily 55SMA and 173.70, daily cloud top. The downside attempts should be ideally contained at 172 zone, also daily 20SMA, while extended dips are expected to hold above 171.60, 22 Aug higher low, to keep near-term bulls in play.
Res: 172.65; 172.90; 173.45; 174.17
Sup: 172.00; 171.60; 171.43; 171.00
EURGBP
The pair maintains negative near-term tone and keeps the downside favored, as near-term price action consolidates above fresh low at 0.7950, 50% retracement of 0.7871/0.8034 ascend, reinforced by daily Kijun-sen line, where the price found temporary support. Bullish larger picture, however, keeps focus at the upside and sees potential for fresh attempts higher, once corrective pullback is over. Ideal reversal point is seen at current levels, with further easing through 0.7935, Fibonacci 61.8%, to confirm reversal and shift focus towards 0.7915/00 ahead of final push towards key 0.7871 support, low of 23 July.
Res: 0.7977; 0.8015; 0.8034; 0.8056
Sup: 0.7950; 0.7935; 0.7915; 0.7900
AUD/NZD
The pair resumes larger uptrend off 1.0619, 10 July low, after fresh acceleration from 1.1055 higher base, eventually rallied through psychological 1.1100 barrier and broke above the next target at 1.1160, Fibonacci 61.8% retracement of 1.1576/1.0488 descend. Daily close above here to confirm break and look for 1.1200, round figure resistance and previous July/Sep 2013 lower base, ahead of 1.1319, Fibonacci 76.4% retracement. Initial support lies at 1.1125, ahead of psychological 1.1100 level, where corrective dips should be contained.
Res: 1.1200; 1.1250; 1.1300; 1.1319
Sup: 1.1125; 1.1100; 1.1081; 1.1055
The pair came under increased pressure and accelerated pullback from 22 Aug fresh high at 137.98, to test psychological 137 support, the upper border of pivotal 137.00/136.80 support zone, where temporary footstep was found. Near-term structure weakened on a break below bull-trendline drawn off 135.71 at 137.30, which increases risk of further retracement of 135.71/137.98 upleg, confirmation of which requires break below 136.80 higher base also rally’s mid-point. Reversal signaled by daily bearish engulfing pattern, requires confirmation on a break and close below 136.80, to complete Three Black Crows reversal pattern. Alternatively, formation of higher low above 136.80, would keep alive renewed attempts at 138 resistance zone, break of which is required to confirm near-term bottom and resume recovery action off 135.71 low.
Res: 137.30; 137.65; 138.01; 138.25
Sup: 137.00; 136.80; 136.57; 136.35
GBPJPY
Near term price action remains supported and maintains positive tone, after the pair posted fresh high at 172.65, below which consolidative phase is under way. With pivotal resistance and former peak of 13 Aug at 172.56, being cracked, break here and 172.73, Fibonacci 61.8% of 174.17/170.40 descend, is required to confirm higher low at 170.40 for further recovery towards the next significant barrier at 174.17, 30 July peak. Interim barriers en-route, lay at 172.90, daily 55SMA and 173.70, daily cloud top. The downside attempts should be ideally contained at 172 zone, also daily 20SMA, while extended dips are expected to hold above 171.60, 22 Aug higher low, to keep near-term bulls in play.
Res: 172.65; 172.90; 173.45; 174.17
Sup: 172.00; 171.60; 171.43; 171.00
EURGBP
The pair maintains negative near-term tone and keeps the downside favored, as near-term price action consolidates above fresh low at 0.7950, 50% retracement of 0.7871/0.8034 ascend, reinforced by daily Kijun-sen line, where the price found temporary support. Bullish larger picture, however, keeps focus at the upside and sees potential for fresh attempts higher, once corrective pullback is over. Ideal reversal point is seen at current levels, with further easing through 0.7935, Fibonacci 61.8%, to confirm reversal and shift focus towards 0.7915/00 ahead of final push towards key 0.7871 support, low of 23 July.
Res: 0.7977; 0.8015; 0.8034; 0.8056
Sup: 0.7950; 0.7935; 0.7915; 0.7900
AUD/NZD
The pair resumes larger uptrend off 1.0619, 10 July low, after fresh acceleration from 1.1055 higher base, eventually rallied through psychological 1.1100 barrier and broke above the next target at 1.1160, Fibonacci 61.8% retracement of 1.1576/1.0488 descend. Daily close above here to confirm break and look for 1.1200, round figure resistance and previous July/Sep 2013 lower base, ahead of 1.1319, Fibonacci 76.4% retracement. Initial support lies at 1.1125, ahead of psychological 1.1100 level, where corrective dips should be contained.
Res: 1.1200; 1.1250; 1.1300; 1.1319
Sup: 1.1125; 1.1100; 1.1081; 1.1055
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