EURUSD
The Euro remains directionless and trades within one-week 1.3790/1.3860 range. Triple Doji candle and neutral 4-hour studies confirm the scenario and require break of either side of the range to establish fresh direction. Psychological 1.38 support holds the downside attempts for now, as the price probed support overnight, after breaking below bull-trendline off 1.3789 low, which now acts as initial resistance at 1.3825, along with range’s mid-point. Negatively aligned hourly studies keep the downside vulnerable, while the price holds below 1.3840, Fibonacci 61.8% of 1.3863/1.3804 fall, clearance of which to re-open previous week’s highs at 1.3860 zone and revive near-term bulls on a break higher. Otherwise, renewed attempts at 1.3800/1.3790 would risk further retracement of large 1.3761/1.3904 upleg, in case 1.3790 handle is lost.
Res: 1.3826; 1.3850; 1.3860; 1.3904
Sup: 1.3804; 1.3789; 1.3760; 1.3726
GBPUSD
Cable trades in consolidative mode after probing levels above short-term congestion tops at 1.6820 and posting fresh multi-year high at 1.6841. Hourly technicals are gaining traction, after the price found footstep at 1.6773, however, caution is required as bearish MACD / RSI divergence is developing on 4-hour chart, keeping risk of possible reversal in play. Confirmation of reversal scenario requires break below 1.67 higher base and Fibonacci 38.2% of 1.6464/1.6841 upleg, otherwise , fresh upside attempts will remain in play, with sustained break and close above 1.6800/40 barriers required to resume larger uptrend towards initial 1.6877/1.6900 and psychological 1.7000 barrier in extension.
Res: 1.6821; 1.6841; 1.6877; 1.6900
Sup: 1.6773; 1.6750; 1.6720; 1.6700
USDJPY
The pair regained strength and moves higher, after extension from 101.85 higher low eventually broke above 102.35/38, 16 Apr previous high and Fibonacci 38.2% retracement of 104.11/101.31 descend and penetrated daily cloud base, to test the next target lies at 102.71, 50% retracement, so far. Positive near-term studies are supportive for further advance, with strong barrier standing at 103 zone, Fibonacci 61.8% retracement / daily cloud top, clearance of which to re-confirm 101.20/30 base and bullish resumption. Bullish 20/55SMA’s crossover at 102 zone underpins the action, while only reversal below 101.85 higher low and Fibonacci 61.8% of 101.31/102.69 upleg, would revive near-term bears.
Res: 102.71; 103.00; 103.29; 103.57
Sup: 102.34; 102.00; 101.85; 101.70
AUDUSD
The pair trades in near-term corrective mode off fresh high at 0.9460, with negative tone prevailing on near-term technicals. Upside rejection under 0.9400 barrier and subsequent weakness under 0.9331, previous low, threatens test of 0.9300 breakpoint, Fibonacci 61.8% retracement / previous tops of 28 Mar / 01 Apr / daily 20SMA, loss of which to sideline near-term bulls in favor of stronger correction towards next strong support at 0.9204, 03 Apr higher low. To avert immediate downside risk, regain of 0.9390 lower platform and mid-point of entire descend from 0.9460, is required.
Res: 0.9340; 0.9370; 0.9390; 0.9424
Sup: 0.9315; 0.9300; 0.9253; 0.9204
The Euro remains directionless and trades within one-week 1.3790/1.3860 range. Triple Doji candle and neutral 4-hour studies confirm the scenario and require break of either side of the range to establish fresh direction. Psychological 1.38 support holds the downside attempts for now, as the price probed support overnight, after breaking below bull-trendline off 1.3789 low, which now acts as initial resistance at 1.3825, along with range’s mid-point. Negatively aligned hourly studies keep the downside vulnerable, while the price holds below 1.3840, Fibonacci 61.8% of 1.3863/1.3804 fall, clearance of which to re-open previous week’s highs at 1.3860 zone and revive near-term bulls on a break higher. Otherwise, renewed attempts at 1.3800/1.3790 would risk further retracement of large 1.3761/1.3904 upleg, in case 1.3790 handle is lost.
Res: 1.3826; 1.3850; 1.3860; 1.3904
Sup: 1.3804; 1.3789; 1.3760; 1.3726
GBPUSD
Cable trades in consolidative mode after probing levels above short-term congestion tops at 1.6820 and posting fresh multi-year high at 1.6841. Hourly technicals are gaining traction, after the price found footstep at 1.6773, however, caution is required as bearish MACD / RSI divergence is developing on 4-hour chart, keeping risk of possible reversal in play. Confirmation of reversal scenario requires break below 1.67 higher base and Fibonacci 38.2% of 1.6464/1.6841 upleg, otherwise , fresh upside attempts will remain in play, with sustained break and close above 1.6800/40 barriers required to resume larger uptrend towards initial 1.6877/1.6900 and psychological 1.7000 barrier in extension.
Res: 1.6821; 1.6841; 1.6877; 1.6900
Sup: 1.6773; 1.6750; 1.6720; 1.6700
USDJPY
The pair regained strength and moves higher, after extension from 101.85 higher low eventually broke above 102.35/38, 16 Apr previous high and Fibonacci 38.2% retracement of 104.11/101.31 descend and penetrated daily cloud base, to test the next target lies at 102.71, 50% retracement, so far. Positive near-term studies are supportive for further advance, with strong barrier standing at 103 zone, Fibonacci 61.8% retracement / daily cloud top, clearance of which to re-confirm 101.20/30 base and bullish resumption. Bullish 20/55SMA’s crossover at 102 zone underpins the action, while only reversal below 101.85 higher low and Fibonacci 61.8% of 101.31/102.69 upleg, would revive near-term bears.
Res: 102.71; 103.00; 103.29; 103.57
Sup: 102.34; 102.00; 101.85; 101.70
AUDUSD
The pair trades in near-term corrective mode off fresh high at 0.9460, with negative tone prevailing on near-term technicals. Upside rejection under 0.9400 barrier and subsequent weakness under 0.9331, previous low, threatens test of 0.9300 breakpoint, Fibonacci 61.8% retracement / previous tops of 28 Mar / 01 Apr / daily 20SMA, loss of which to sideline near-term bulls in favor of stronger correction towards next strong support at 0.9204, 03 Apr higher low. To avert immediate downside risk, regain of 0.9390 lower platform and mid-point of entire descend from 0.9460, is required.
Res: 0.9340; 0.9370; 0.9390; 0.9424
Sup: 0.9315; 0.9300; 0.9253; 0.9204
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