EURUSD
The Euro attempts higher after overnight’s consolidation around 1.24 handle. Recovery rejection on approach 1.25 barrier and subsequent pullback near 1.2360 support, as well as repeated close below daily 20SMA, suggests that overall negative tone persists. Yesterday’s close in red confirms the notion, however, long legged candle signals hesitation and prolonged consolidation could be expected, while 1.2360 base holds. Near-term technicals are mixed, as hourly studies are negatively aligned and 20EMA reinforces 1.24 resistance area, while positive tone exists on 4-hour chart, which signals further consolidative action. Loss of strong 1.2360 support, to weaken the structure further and signal lower top formation, for extension towards 1.2340, former high of 08 Dec / Fibonacci 61.8% of 1.2244/1.2493 upleg and 1.2300, round figure support, with return to key 1.2244 low, seen on acceleration. Otherwise, positive weekly close and clearance of pivotal 1.2505/30 barrier, would signal reversal.
Res: 1.2466; 1.2493; 1.2505; 1.2530
Sup: 1.2410; 1.2382; 1.2360; 1.2340
GBPUSD
Cable remains supported in the near-term and trades near-the upper boundary of one-month consolidation range. Yesterday’s repeated positive close, with candle’s long lower shadow, signals positive sentiment, as the price stabilizes above 1.57 handle, after dip to 1.5650, higher base. Positive near-term studies are supportive for eventual attack at initial 1.5761 target, to open pivotal barrier and consolidation top at 1.5823, 27 Nov peak. However, caution is required as overall tone is negative and would trigger prolonged consolidative action in case of repeated upside failure. Descending daily Kijun-sen line offers initial strong barrier and so far caps upside attempts.
Res: 1.5734; 1.5755; 1.5761; 1.5800
Sup: 1.5692; 1.5650; 1.5624; 1.5600
USDJPY
The pair bounced to 119.50 zone yesterday, where sideways moving daily 10SMA limited action, with downside risk returning to play on subsequent pullback, despite yesterday’s positive close above daily 20SMA. Near-term price action is congested between sideways moving daily Tenkan-sen and Kijun-sen lines, with mixed near-term studies confirming directionless trading. Overall positive picture sees scope for fresh attempts higher, which require lose above Kijun-sen line, currently at 119.63, to confirm higher low formation and neutralize risk of retesting key near-term support at 117.22, 27 Nov low, loss of which will be bearish.
Res: 119.19; 119.54; 119.90; 120.15
Sup: 117.89; 117.43; 117.22; 117.00
AUDUSD
Negative tone remains in play after recovery attempts were capped by descending daily Tenkan-sen line at 0.8373 and subsequent weakness briefly probed below 0.8222 low, keeping psychological 0.8200 support under pressure. Yesterday’s close in red is negative, however long legs of the daily candle, signal also hesitation, which may result in prolonged consolidation before final push through 0.82 handle, as the pair is poised for the fourth consecutive negative weekly close. Initial barriers lay at 0.8300 and 0.8340, while only close above 0.8373 high and Tenkan-sen line, would ease downside pressure.
Res: 0.8300; 0.8340; 0.8373; 0.8400
Sup: 0.8280; 0.8239; 0.8222; 0.8200
The Euro attempts higher after overnight’s consolidation around 1.24 handle. Recovery rejection on approach 1.25 barrier and subsequent pullback near 1.2360 support, as well as repeated close below daily 20SMA, suggests that overall negative tone persists. Yesterday’s close in red confirms the notion, however, long legged candle signals hesitation and prolonged consolidation could be expected, while 1.2360 base holds. Near-term technicals are mixed, as hourly studies are negatively aligned and 20EMA reinforces 1.24 resistance area, while positive tone exists on 4-hour chart, which signals further consolidative action. Loss of strong 1.2360 support, to weaken the structure further and signal lower top formation, for extension towards 1.2340, former high of 08 Dec / Fibonacci 61.8% of 1.2244/1.2493 upleg and 1.2300, round figure support, with return to key 1.2244 low, seen on acceleration. Otherwise, positive weekly close and clearance of pivotal 1.2505/30 barrier, would signal reversal.
Res: 1.2466; 1.2493; 1.2505; 1.2530
Sup: 1.2410; 1.2382; 1.2360; 1.2340
GBPUSD
Cable remains supported in the near-term and trades near-the upper boundary of one-month consolidation range. Yesterday’s repeated positive close, with candle’s long lower shadow, signals positive sentiment, as the price stabilizes above 1.57 handle, after dip to 1.5650, higher base. Positive near-term studies are supportive for eventual attack at initial 1.5761 target, to open pivotal barrier and consolidation top at 1.5823, 27 Nov peak. However, caution is required as overall tone is negative and would trigger prolonged consolidative action in case of repeated upside failure. Descending daily Kijun-sen line offers initial strong barrier and so far caps upside attempts.
Res: 1.5734; 1.5755; 1.5761; 1.5800
Sup: 1.5692; 1.5650; 1.5624; 1.5600
USDJPY
The pair bounced to 119.50 zone yesterday, where sideways moving daily 10SMA limited action, with downside risk returning to play on subsequent pullback, despite yesterday’s positive close above daily 20SMA. Near-term price action is congested between sideways moving daily Tenkan-sen and Kijun-sen lines, with mixed near-term studies confirming directionless trading. Overall positive picture sees scope for fresh attempts higher, which require lose above Kijun-sen line, currently at 119.63, to confirm higher low formation and neutralize risk of retesting key near-term support at 117.22, 27 Nov low, loss of which will be bearish.
Res: 119.19; 119.54; 119.90; 120.15
Sup: 117.89; 117.43; 117.22; 117.00
AUDUSD
Negative tone remains in play after recovery attempts were capped by descending daily Tenkan-sen line at 0.8373 and subsequent weakness briefly probed below 0.8222 low, keeping psychological 0.8200 support under pressure. Yesterday’s close in red is negative, however long legs of the daily candle, signal also hesitation, which may result in prolonged consolidation before final push through 0.82 handle, as the pair is poised for the fourth consecutive negative weekly close. Initial barriers lay at 0.8300 and 0.8340, while only close above 0.8373 high and Tenkan-sen line, would ease downside pressure.
Res: 0.8300; 0.8340; 0.8373; 0.8400
Sup: 0.8280; 0.8239; 0.8222; 0.8200
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