EURUSD
The Euro reduces pace and enters consolidative phase, following high volatility in past sessions. Yesterday’s Bearish Inside Day maintains overall bearish tone, while near-term technicals are in neutral/positive mode with contracting hourly 20d Bollinger bands, suggesting further consolidation in the near-term. Hopes of Greece/EU agreement are seen as supportive factor, however, break above near-term narrow consolidation, is required to signal fresh strength, with sustained break above daily Tenkan-sen line at 1.0748, to confirm. Yesterday’s high at 1.0918, reinforced by descending daily 20SMA, marks next breakpoint, close above which to confirm fresh bulls for renewed attempts above 1.10 barrier. Session’s low at 1.0950, reinforced by daily 10SMA, marks initial support, with break here and 1.0612, low of the pullback from 1.1034 high, to revive bears.
Res: 1.0693; 1.0748; 1.0773; 1.0795
Sup: 1.0650; 1.0612; 1.0580; 1.0550
GBPUSD
Cable consolidates above yesterday’s low at 1.4686, reached on a pullback from 1.5160, post-Fed’s strong rally, with near-term studies being negatively aligned and keeping risk of fresh attempts lower in play. Yesterday’s close in red and bearish setup on a daily studies, keeps the downside in focus. Hourly 20EMA so far caps consolidative action, with next significant barriers at 1.4870 zone, daily 10SMA / Fibonacci 38.2% of 1.5160/1.4686 descend and psychological 1.49 barrier, reinforced by daily Tenkan-sen line. Break here would bring more positive tone in play and signal further recovery attempts. Otherwise, the downside will remain vulnerable, with violation of pivotal 1.4686 support, expected to open key 1.4633, 18 Mar low, to fully retrace 1.4633/1.5160 rally and signal resumption of larger downtrend.
Res: 1.4775; 1.4800; 1.4870; 1.4923
Sup: 1.4700; 1.4686; 1.4633; 1.4600
USDJPY
The pair recovered the largest part of Wednesday’s 121.39/119.28 fall, on a bounce to 121.02, where rallies were capped by daily 10SMA for now. Former pivotal support at 120.60, reinforced by daily Tenkan-sen, holds near-term consolidation, keeping hopes of fresh attempts higher. Overall bullish structure keeps the upside focused, with sustained break above 121 barrier required to open key barriers at 121.83/122.01 for retest. However, near-term studies are still weak and 120.60 support remains vulnerable. Further easing should be ideally contained above 120.36, Fibonacci 38.2% retracement of 119.28/121.02 rally, to avert risk of fresh weakness that would revive bears in case of close below psychological 120 support.
Res: 121.02; 121.39; 121.65; 121.83
Sup: 120.60; 120.36; 120.15; 119.66
AUDUSD
The pair bounced off yesterday’s low at 0.7610, sidelining scenario of full retracement of post-Fed 0.7589/0.7845 rally. Instead, rally through daily 10SMA, approaches 0.77 barrier, daily Tenkan-sen line / Fibonacci 38.2% of 0.7845/0.7610 downleg, break of which is required to improve still weak near-term studies and trigger stronger recovery. Further rallies then require close above daily 20SMA at 0.7728, to confirm the notion. Conversely, upside rejection is expected to confirm overall bearish picture and spark fresh weakness towards 0.7610 and 0.7589 lows and focus key support at 0.7558, low of 11 Mar.
Res: 0.7700; 0.7728; 0.7755; 0.7806
Sup: 0.7657; 0.7642; 0.7610; 0.7589
The Euro reduces pace and enters consolidative phase, following high volatility in past sessions. Yesterday’s Bearish Inside Day maintains overall bearish tone, while near-term technicals are in neutral/positive mode with contracting hourly 20d Bollinger bands, suggesting further consolidation in the near-term. Hopes of Greece/EU agreement are seen as supportive factor, however, break above near-term narrow consolidation, is required to signal fresh strength, with sustained break above daily Tenkan-sen line at 1.0748, to confirm. Yesterday’s high at 1.0918, reinforced by descending daily 20SMA, marks next breakpoint, close above which to confirm fresh bulls for renewed attempts above 1.10 barrier. Session’s low at 1.0950, reinforced by daily 10SMA, marks initial support, with break here and 1.0612, low of the pullback from 1.1034 high, to revive bears.
Res: 1.0693; 1.0748; 1.0773; 1.0795
Sup: 1.0650; 1.0612; 1.0580; 1.0550
GBPUSD
Cable consolidates above yesterday’s low at 1.4686, reached on a pullback from 1.5160, post-Fed’s strong rally, with near-term studies being negatively aligned and keeping risk of fresh attempts lower in play. Yesterday’s close in red and bearish setup on a daily studies, keeps the downside in focus. Hourly 20EMA so far caps consolidative action, with next significant barriers at 1.4870 zone, daily 10SMA / Fibonacci 38.2% of 1.5160/1.4686 descend and psychological 1.49 barrier, reinforced by daily Tenkan-sen line. Break here would bring more positive tone in play and signal further recovery attempts. Otherwise, the downside will remain vulnerable, with violation of pivotal 1.4686 support, expected to open key 1.4633, 18 Mar low, to fully retrace 1.4633/1.5160 rally and signal resumption of larger downtrend.
Res: 1.4775; 1.4800; 1.4870; 1.4923
Sup: 1.4700; 1.4686; 1.4633; 1.4600
USDJPY
The pair recovered the largest part of Wednesday’s 121.39/119.28 fall, on a bounce to 121.02, where rallies were capped by daily 10SMA for now. Former pivotal support at 120.60, reinforced by daily Tenkan-sen, holds near-term consolidation, keeping hopes of fresh attempts higher. Overall bullish structure keeps the upside focused, with sustained break above 121 barrier required to open key barriers at 121.83/122.01 for retest. However, near-term studies are still weak and 120.60 support remains vulnerable. Further easing should be ideally contained above 120.36, Fibonacci 38.2% retracement of 119.28/121.02 rally, to avert risk of fresh weakness that would revive bears in case of close below psychological 120 support.
Res: 121.02; 121.39; 121.65; 121.83
Sup: 120.60; 120.36; 120.15; 119.66
AUDUSD
The pair bounced off yesterday’s low at 0.7610, sidelining scenario of full retracement of post-Fed 0.7589/0.7845 rally. Instead, rally through daily 10SMA, approaches 0.77 barrier, daily Tenkan-sen line / Fibonacci 38.2% of 0.7845/0.7610 downleg, break of which is required to improve still weak near-term studies and trigger stronger recovery. Further rallies then require close above daily 20SMA at 0.7728, to confirm the notion. Conversely, upside rejection is expected to confirm overall bearish picture and spark fresh weakness towards 0.7610 and 0.7589 lows and focus key support at 0.7558, low of 11 Mar.
Res: 0.7700; 0.7728; 0.7755; 0.7806
Sup: 0.7657; 0.7642; 0.7610; 0.7589
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