EURUSD
The Euro remains negative and posted new low at 1.3365 yesterday, level which marks 50% of 1.2754/1.3992 upleg. Subsequent bounce, which so far stays capped at 1.34 barrier, could be seen as consolidation, before fresh attempt lower, which looks for test of 1.3294, 03 Nov 2013 higher low and 1.3247, Fibonacci 38.2% of 1.2042/1.3992 ascend, in extension. Studies are bearish, but oversold daily conditions see potential for stronger corrective rally. Clearance of initial 1.3400/43 resistance, requires extension above 1.3470, Fibonacci 38.2% of 1.3639/1.3365 and lower platform top at 1.3480, break of which to confirm start of more significant corrective phase.
Res: 1.3420; 1.3443; 1.3474; 1.3483
Sup: 1.3399; 1.3350; 1.3294; 1.3247
GBPUSD
Cable maintains negative structure and posts fresh low at 1.6871, after sliding below previous support and Fibonacci 61.8% retracement of 1.6697/1.7189 upleg. Further weakness is favored, as near-term studies remain bearish and brief corrective rallies on oversold conditions are expected to interrupt. Additional pressure on the pair is seen on daily studies, establishing in the negative territory. Break below daily Ichimoku cloud, opens dynamic support of 100 SMA lies at 1.6856, and 1.6844, 06 June high, in extension. Lower top at 1.6953, offers first stronger resistance, with psychological 1.7000 barrier, also previous consolidation range top, expected to cap.
Res: 1.6900; 1.6925; 1.6953; 1.6995
Sup: 1.6850; 1.6800; 1.6784; 1.6736
USDJPY
The pair remains well supported and cracked psychological 103 barrier, also previous spike high of 02 May, on yesterday’s strong acceleration higher from 102 handle, where 200SMA contained. Fresh attempts above three-month narrower range tops are expected to open ceiling of larger range from February 2014 at 103.75/104.11, for retest. However, oversold near-term studies require a pause before fresh push higher, with previous peaks at 102.35/25, to ideally hold dips. Only loss of 102 support and 200SMA, would weaken near-term structure and sideline bulls.
Res: 102.25; 102.35; 102.78; 103.00
Sup: 102.30; 102.00; 101.83; 101.71
AUDUSD
The pair remains under pressure, as yesterday’s fresh acceleration lower eventually broke strong 0.9320 base and extended losses to psychological 0.93 support so far. Consolidation above the latter preceded fresh move lower, as bears are looking for test of short-term base at 0.9200, on sustained break below 0.93 support. Previous base at 0.9320 zone, now acts as good resistance, while only rallies above 0.94 barrier would sideline bears.
Res: 0.9328; 0.9356; 0.9382; 0.9414
Sup: 0.9278; 0.9250; 0.9210; 0.9180
The Euro remains negative and posted new low at 1.3365 yesterday, level which marks 50% of 1.2754/1.3992 upleg. Subsequent bounce, which so far stays capped at 1.34 barrier, could be seen as consolidation, before fresh attempt lower, which looks for test of 1.3294, 03 Nov 2013 higher low and 1.3247, Fibonacci 38.2% of 1.2042/1.3992 ascend, in extension. Studies are bearish, but oversold daily conditions see potential for stronger corrective rally. Clearance of initial 1.3400/43 resistance, requires extension above 1.3470, Fibonacci 38.2% of 1.3639/1.3365 and lower platform top at 1.3480, break of which to confirm start of more significant corrective phase.
Res: 1.3420; 1.3443; 1.3474; 1.3483
Sup: 1.3399; 1.3350; 1.3294; 1.3247
GBPUSD
Cable maintains negative structure and posts fresh low at 1.6871, after sliding below previous support and Fibonacci 61.8% retracement of 1.6697/1.7189 upleg. Further weakness is favored, as near-term studies remain bearish and brief corrective rallies on oversold conditions are expected to interrupt. Additional pressure on the pair is seen on daily studies, establishing in the negative territory. Break below daily Ichimoku cloud, opens dynamic support of 100 SMA lies at 1.6856, and 1.6844, 06 June high, in extension. Lower top at 1.6953, offers first stronger resistance, with psychological 1.7000 barrier, also previous consolidation range top, expected to cap.
Res: 1.6900; 1.6925; 1.6953; 1.6995
Sup: 1.6850; 1.6800; 1.6784; 1.6736
USDJPY
The pair remains well supported and cracked psychological 103 barrier, also previous spike high of 02 May, on yesterday’s strong acceleration higher from 102 handle, where 200SMA contained. Fresh attempts above three-month narrower range tops are expected to open ceiling of larger range from February 2014 at 103.75/104.11, for retest. However, oversold near-term studies require a pause before fresh push higher, with previous peaks at 102.35/25, to ideally hold dips. Only loss of 102 support and 200SMA, would weaken near-term structure and sideline bulls.
Res: 102.25; 102.35; 102.78; 103.00
Sup: 102.30; 102.00; 101.83; 101.71
AUDUSD
The pair remains under pressure, as yesterday’s fresh acceleration lower eventually broke strong 0.9320 base and extended losses to psychological 0.93 support so far. Consolidation above the latter preceded fresh move lower, as bears are looking for test of short-term base at 0.9200, on sustained break below 0.93 support. Previous base at 0.9320 zone, now acts as good resistance, while only rallies above 0.94 barrier would sideline bears.
Res: 0.9328; 0.9356; 0.9382; 0.9414
Sup: 0.9278; 0.9250; 0.9210; 0.9180
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