EURUSD
The Euro consolidates fresh push higher which broke above 200SMA and eventually cleared key 1.3676 barrier. Gains are for now capped at psychological 1.37 barrier, reinforced by daily 55SMA, with current consolidative phase expected to precede fresh leg higher. Break through 1.37 to open daily cloud top at 1.3723 and 1.3737/47, 100SMA / Fibonacci 61.8% retracement of 1.3992/1.3501 descend. Positive 4-hour studies support the scenario, while hourly indicators are entering negative territory and dips ideally to be ideally held by 1.3650 zone, previous highs of 19/25 June / Fibonacci 38.2% retracement of 1.3573/1.3699 upleg.
Res: 1.3700; 1.3723; 1.3737; 1.3747
Sup: 1.3650; 1.3630; 1.3600; 1.3573
GBPUSD
Cable maintains positive tone and continues to trend higher, with break and daily close above 1.71 hurdle, confirming strong bullish tone, after completion of 1.7061/1.6950 corrective phase, resumes larger uptrend and eyes round figure barrier at 1.7200. However, overbought 4-hour and daily conditions require caution, with potential corrective actions to face immediate supports at 1.7100 and 1.7061, previous barriers.
Res: 1.7165; 1.7200; 1.7250; 1.7300
Sup: 1.7100; 1.7061; 1.7000; 1.6950
USDJPY
The pair remains under pressure, with near-term consolidation being under way ahead of 101.10/00 support zone. Overall negative structure favors eventual push through psychological 101 support and retest of key 101.81/74, short-term range floor levels. Break below multi-month congestion to open fresh leg lower, part of larger descend off 105.43, 2013 peak and expose psychological 100 support, next. Previous supports at 101.59/80 zone, now offer immediate barriers and so far limit the upside, ahead of lower tops at 102.15/18, where stronger corrective rallies are expected to be capped.
Res: 101.64; 101.73; 101.86; 102.15
Sup: 101.43; 101.22; 101.10; 101.00
AUDUSD
The pair cracked psychological 0.95 barrier, on a fresh acceleration above previous key level at 0.9460. Resumption of larger upleg off 0.92 higher base now focuses 0.9619, 50% retracement of multi-month 1.0581/0.8658 descend and 0.9755 lower top of Oct 2013, in extension. Corrective actions on overbought near-term studies face solid support at 0.9445, previous consolidation tops and Fibonacci 38.2% of 0.9352/0.9503 upleg and further easing expected to ideally find footstep around 0.94 support zone, Fibonacci 61.8% retracement.
Res: 0.9503; 0.9526; 0.9550; 0.9600
Sup: 0.9445; 0.9400; 0.9385; 0.9350
The Euro consolidates fresh push higher which broke above 200SMA and eventually cleared key 1.3676 barrier. Gains are for now capped at psychological 1.37 barrier, reinforced by daily 55SMA, with current consolidative phase expected to precede fresh leg higher. Break through 1.37 to open daily cloud top at 1.3723 and 1.3737/47, 100SMA / Fibonacci 61.8% retracement of 1.3992/1.3501 descend. Positive 4-hour studies support the scenario, while hourly indicators are entering negative territory and dips ideally to be ideally held by 1.3650 zone, previous highs of 19/25 June / Fibonacci 38.2% retracement of 1.3573/1.3699 upleg.
Res: 1.3700; 1.3723; 1.3737; 1.3747
Sup: 1.3650; 1.3630; 1.3600; 1.3573
GBPUSD
Cable maintains positive tone and continues to trend higher, with break and daily close above 1.71 hurdle, confirming strong bullish tone, after completion of 1.7061/1.6950 corrective phase, resumes larger uptrend and eyes round figure barrier at 1.7200. However, overbought 4-hour and daily conditions require caution, with potential corrective actions to face immediate supports at 1.7100 and 1.7061, previous barriers.
Res: 1.7165; 1.7200; 1.7250; 1.7300
Sup: 1.7100; 1.7061; 1.7000; 1.6950
USDJPY
The pair remains under pressure, with near-term consolidation being under way ahead of 101.10/00 support zone. Overall negative structure favors eventual push through psychological 101 support and retest of key 101.81/74, short-term range floor levels. Break below multi-month congestion to open fresh leg lower, part of larger descend off 105.43, 2013 peak and expose psychological 100 support, next. Previous supports at 101.59/80 zone, now offer immediate barriers and so far limit the upside, ahead of lower tops at 102.15/18, where stronger corrective rallies are expected to be capped.
Res: 101.64; 101.73; 101.86; 102.15
Sup: 101.43; 101.22; 101.10; 101.00
AUDUSD
The pair cracked psychological 0.95 barrier, on a fresh acceleration above previous key level at 0.9460. Resumption of larger upleg off 0.92 higher base now focuses 0.9619, 50% retracement of multi-month 1.0581/0.8658 descend and 0.9755 lower top of Oct 2013, in extension. Corrective actions on overbought near-term studies face solid support at 0.9445, previous consolidation tops and Fibonacci 38.2% of 0.9352/0.9503 upleg and further easing expected to ideally find footstep around 0.94 support zone, Fibonacci 61.8% retracement.
Res: 0.9503; 0.9526; 0.9550; 0.9600
Sup: 0.9445; 0.9400; 0.9385; 0.9350
Recommended Content
Editors’ Picks
EUR/USD rises to daily tops past 1.0800 post-NFP
The selling bias in the Greenback gathers extra pace on Friday after the US economy created fewer jobs than initially estimated in April, lifting EUR/USD to the area of fresh peaks above 1.0800.
GBP/USD surpasses 1.2600 after disheartening US Payrolls
The resumption of the downward pressure in the US Dollar motivates GBP/USD to extend its earlier advance to the area beyond 1.2600 the figure in the wake of the release of US NFP.
Gold climbs to new highs above $2,300 on poor NFP prints
The precious metal maintains its bullish stance and breaks above the $2,300 barrier on Friday after US Nonfarm Payrolls showed the economy added fewer jobs than expected during last month.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.