EURUSD
The Euro remains under strong pressure and extends weakness below 1.36 support, 50% retracement of 1.3511/1.3699 ascend, reinforced by daily Kijun-sen line, after undergoing brief
consolidation. Yesterday’s acceleration lower, following dollar supportive fundamentals, commenced fresh bear-leg, extension of reversal from 1.3699 peak and so far retraced over 76.4% of 1.3573/ 1.3699 upleg. Negative tone sees further weakness favored, with immediate focus at 1.3573/63, lows of 26/20 June. The notion is supported by daily picture which shows reversal pattern. Oversold near-term studies, however, may delay fresh bears in favor of corrective attempts. Initial resistance lies at 1.3620, previous consolidation top, ahead of 1.3640 lower platform, where rallies should find solid resistance.
Res: 1.3600; 1.3620; 1.3640; 1.3662
Sup: 1.3573; 1.3563; 1.3534; 1.3511
GBPUSD
Cable maintains positive tone and continues to trend higher, with gains being interrupted by dip to 1.71 support after release of US jobs data. Marginally higher high posted at 1.7177, keeps the upside favored and immediate focus at psychological 1.72 barrier. Overbought daily studies, however, suggest corrective actions, with initial supports at 1.7100, yesterday’s post-data low and 1.7061, previous barriers. Only extension below psychological 1.7000 level and higher base at 1.6950, would sideline bulls for stronger reversal.
Res: 1.7177; 1.7200; 1.7250; 1.7300
Sup: 1.7140; 1.7100; 1.7061; 1.7000
USDJPY
The pair’s fresh strength regained levels above 102 handle, above which the price is attempting to stabilize after hitting fresh recovery high at 102.25. Near-term picture remains positive overall and favors eventual retest and break above the other pivotal barrier at 102.35, to confirm higher low at 101.22 and open way for eventual attack at key 102.78/103.09 barriers. Corrective actions should ideally find support at 102 zone, otherwise, bulls may be further delayed for extended pullback to 101.86/74, 38.2% and 50% retracement of 101.22/102.25 upleg. Loss of 101.74/60 previous resistances, is expected to neutralize near-term bulls and shift focus lower again.
Res: 102.25; 102.35; 102.63; 102.78
Sup: 101.86; 101.74; 101.60; 101.39
AUDUSD
The pair extended weakness off fresh high at 0.9503 and nearly fully retraced 0.9320/0.9503 ascend, on a fall to 0.9327 so far. Bulls are firmly in play on lower timeframes studies and also establishing on a daily chart, which favors final push through the next strong support at 0.9320, low of 18 June and 61.8% retracement of 0.9209/0.9503 ascend. However, oversold near-term conditions may delay immediate bears, for corrective action. Initial resistance lies at 0.9380, with 0.94 zone, expected to ideally cap.
Res: 0.9380; 0.9400; 0.9436; 0.9463
Sup: 0.9327; 0.9320; 0.9300; 0.9278
The Euro remains under strong pressure and extends weakness below 1.36 support, 50% retracement of 1.3511/1.3699 ascend, reinforced by daily Kijun-sen line, after undergoing brief
consolidation. Yesterday’s acceleration lower, following dollar supportive fundamentals, commenced fresh bear-leg, extension of reversal from 1.3699 peak and so far retraced over 76.4% of 1.3573/ 1.3699 upleg. Negative tone sees further weakness favored, with immediate focus at 1.3573/63, lows of 26/20 June. The notion is supported by daily picture which shows reversal pattern. Oversold near-term studies, however, may delay fresh bears in favor of corrective attempts. Initial resistance lies at 1.3620, previous consolidation top, ahead of 1.3640 lower platform, where rallies should find solid resistance.
Res: 1.3600; 1.3620; 1.3640; 1.3662
Sup: 1.3573; 1.3563; 1.3534; 1.3511
GBPUSD
Cable maintains positive tone and continues to trend higher, with gains being interrupted by dip to 1.71 support after release of US jobs data. Marginally higher high posted at 1.7177, keeps the upside favored and immediate focus at psychological 1.72 barrier. Overbought daily studies, however, suggest corrective actions, with initial supports at 1.7100, yesterday’s post-data low and 1.7061, previous barriers. Only extension below psychological 1.7000 level and higher base at 1.6950, would sideline bulls for stronger reversal.
Res: 1.7177; 1.7200; 1.7250; 1.7300
Sup: 1.7140; 1.7100; 1.7061; 1.7000
USDJPY
The pair’s fresh strength regained levels above 102 handle, above which the price is attempting to stabilize after hitting fresh recovery high at 102.25. Near-term picture remains positive overall and favors eventual retest and break above the other pivotal barrier at 102.35, to confirm higher low at 101.22 and open way for eventual attack at key 102.78/103.09 barriers. Corrective actions should ideally find support at 102 zone, otherwise, bulls may be further delayed for extended pullback to 101.86/74, 38.2% and 50% retracement of 101.22/102.25 upleg. Loss of 101.74/60 previous resistances, is expected to neutralize near-term bulls and shift focus lower again.
Res: 102.25; 102.35; 102.63; 102.78
Sup: 101.86; 101.74; 101.60; 101.39
AUDUSD
The pair extended weakness off fresh high at 0.9503 and nearly fully retraced 0.9320/0.9503 ascend, on a fall to 0.9327 so far. Bulls are firmly in play on lower timeframes studies and also establishing on a daily chart, which favors final push through the next strong support at 0.9320, low of 18 June and 61.8% retracement of 0.9209/0.9503 ascend. However, oversold near-term conditions may delay immediate bears, for corrective action. Initial resistance lies at 0.9380, with 0.94 zone, expected to ideally cap.
Res: 0.9380; 0.9400; 0.9436; 0.9463
Sup: 0.9327; 0.9320; 0.9300; 0.9278
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