EURUSD
Three days in red and yesterday’s close below 1.1100, Fibonacci 38.2% of 1.0519/1.1465, confirms strong near-term bearish tone, as the pair posted fresh low at 1.1060 yesterday. Daily indicators are pointing lower, confirming bearish bias. Near-term price action consolidates above fresh lows, where near-term base is forming. Broken daily 100SMA now offers initial barrier at 1.1153, along with Fibonacci 38.2% of 1.1320/1.1060 downleg and is expected to cap consolidation, ahead of fresh weakness that will be looking for the next target, psychological 1.10 support / near 50% of 1.0519/1.1465. The pair is also poised for strong weekly close in red that confirms negative stance. Extended correction above 100SMA, to face next strong barriers at 1.1200/20 zone, former base / Fibonacci 61.8% of 1.1320/1.1060 and only close above the latter would sideline immediate bears.
Res: 1.1129; 1.1153; 1.1220; 1.1283
Sup: 1.1085; 1.1060; 1.1000; 1.0970
GBPUSD
The pair enters near-term consolidation above fresh low at 1.5450, with the upside being capped by daily 200SMA that marks near-term breakpoint. Mixed setup of daily MA’s and contracting Bollingers, suggests further consolidation, as near-term tone is negative. However, overall bullish tone keeps the upside in focus, with return and close above 200SMA, to give initial signal of base formation and regain of 1.5668 lower top and 19 May high / Fibonacci 61.8% of 1.5813/1.5450 downleg, to confirm. Otherwise, 1.5450 support will remain vulnerable, with fresh attempts below here to signal resumption of pullback from 1.5813.
Res: 1.5558; 1.5592; 1.5615; 1.5668
Sup: 1.5523; 1.5471; 1.5450; 1.5364
USDJPY
Yesterday’s fresh bullish acceleration extended rally from 118.87 higher base and peaked at 121.46, closing for the third time in long green candle and above Fibonacci 76.4% of 122.01/118.48 descend. Bulls dominate on all timeframes and see scope for final push towards key 122.01 barrier and resumption of larger uptrend, on break here. Near-term consolidation on overbought studies, is expected to precede fresh push higher. Dips were so far held at psychological 121 level, with yesterday’s intraday low and trough at 120.72, expected to ideally contain.
Res: 121.46; 121.65; 122.01; 122.50
Sup: 121.00; 120.72; 120.56; 120.26
AUDUSD
Aussie continues to move lower on reversal from fresh high at 0.8161, with the fifth consecutive daily close in long red candles and cracking 0.7870 higher low, confirming strong near-term bears. Daily indicators are heading lower and support the notion for attack at next targets at 0.7846, 50% of 0.7531/0.8161 rally, reinforced by daily 100SMA and 0.7780 trough in extension. Daily 20SMA at 0.7937, marks strong resistance and should ideally cap upside attempts, guarding psychological 0.80 barrier.
Res: 0.7937; 0.7971; 0.8009; 0.8050
Sup: 0.7859; 0.7846; 0.7800; 0.7780
Three days in red and yesterday’s close below 1.1100, Fibonacci 38.2% of 1.0519/1.1465, confirms strong near-term bearish tone, as the pair posted fresh low at 1.1060 yesterday. Daily indicators are pointing lower, confirming bearish bias. Near-term price action consolidates above fresh lows, where near-term base is forming. Broken daily 100SMA now offers initial barrier at 1.1153, along with Fibonacci 38.2% of 1.1320/1.1060 downleg and is expected to cap consolidation, ahead of fresh weakness that will be looking for the next target, psychological 1.10 support / near 50% of 1.0519/1.1465. The pair is also poised for strong weekly close in red that confirms negative stance. Extended correction above 100SMA, to face next strong barriers at 1.1200/20 zone, former base / Fibonacci 61.8% of 1.1320/1.1060 and only close above the latter would sideline immediate bears.
Res: 1.1129; 1.1153; 1.1220; 1.1283
Sup: 1.1085; 1.1060; 1.1000; 1.0970
GBPUSD
The pair enters near-term consolidation above fresh low at 1.5450, with the upside being capped by daily 200SMA that marks near-term breakpoint. Mixed setup of daily MA’s and contracting Bollingers, suggests further consolidation, as near-term tone is negative. However, overall bullish tone keeps the upside in focus, with return and close above 200SMA, to give initial signal of base formation and regain of 1.5668 lower top and 19 May high / Fibonacci 61.8% of 1.5813/1.5450 downleg, to confirm. Otherwise, 1.5450 support will remain vulnerable, with fresh attempts below here to signal resumption of pullback from 1.5813.
Res: 1.5558; 1.5592; 1.5615; 1.5668
Sup: 1.5523; 1.5471; 1.5450; 1.5364
USDJPY
Yesterday’s fresh bullish acceleration extended rally from 118.87 higher base and peaked at 121.46, closing for the third time in long green candle and above Fibonacci 76.4% of 122.01/118.48 descend. Bulls dominate on all timeframes and see scope for final push towards key 122.01 barrier and resumption of larger uptrend, on break here. Near-term consolidation on overbought studies, is expected to precede fresh push higher. Dips were so far held at psychological 121 level, with yesterday’s intraday low and trough at 120.72, expected to ideally contain.
Res: 121.46; 121.65; 122.01; 122.50
Sup: 121.00; 120.72; 120.56; 120.26
AUDUSD
Aussie continues to move lower on reversal from fresh high at 0.8161, with the fifth consecutive daily close in long red candles and cracking 0.7870 higher low, confirming strong near-term bears. Daily indicators are heading lower and support the notion for attack at next targets at 0.7846, 50% of 0.7531/0.8161 rally, reinforced by daily 100SMA and 0.7780 trough in extension. Daily 20SMA at 0.7937, marks strong resistance and should ideally cap upside attempts, guarding psychological 0.80 barrier.
Res: 0.7937; 0.7971; 0.8009; 0.8050
Sup: 0.7859; 0.7846; 0.7800; 0.7780
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