EURUSD
Hourly recovery ascend from fresh low at 1.0818, posted on 27 May, probed above the first pivot at 1.0955, daily Ichimoku cloud base. Gains peaked at 1.0973, marking over 38.2% retracement of 1.1206/1.0818 downleg. Bullish hourly structure favors further recovery towards next strong barrier at 1.10 zone, week’s high and hourly lower platform. On the other side, daily chart setup remains bearish and sees limited upside action, ahead of fresh leg lower. Initial range is marked by supports at 1.0900, hourly bull-trendline off 1.0818 and 1.0865, yesterday’s NY session low, loss of which to signal bearish resumption and resistance at 1.0973, overnight’s high. Extension above 1.10 and 1.1030, daily 10SMA, would delay bears for stronger correction. The pair is posed for weekly / monthly close in red that confirms overall bears.
Res: 1.0973; 1.1008; 1.1030; 1.1058
Sup: 1.0900; 1.0865; 1.0818; 1.0800
GBPUSD
The pair remains under pressure and extended losses to 1.5258 yesterday, closing below pivotal 1.5335 support, Fibonacci 38.2% of 1.4563/1.5813 rally. Descending daily indicators, fresh bearish momentum and formation of daily 10/20SMA’s bear cross, maintain negative tone for further easing, as the pair is about to close in red for the second week. Next targets lay at 1.5188, 50% retracement and 1.5161, daily 55SMA. Corrective rallies should be capped under daily 20SMA at 1.5466, to keep bears in play and prevent further rallies towards next pivot at 1.5554, 200SMA.
Res: 1.5383; 1.5435; 1.5466; 1.5505
Sup: 1.5300; 1.5258; 1.5234; 1.5188
USDJPY
Near-term consolidation under fresh high at 124.44, levels last time seen in 2002, is so far supported at 123.50 zone, where hourly base is building. Bulls remain firmly in play and look for further upside. Prolonged consolidation and possible stronger pullback could be anticipated on end-of-the-week profit taking. Next supports lay at 123.30, former tops and 122.80, hourly higher base. So far no signals of stronger correction on overextended daily studies.
Res: 124.09; 124.44; 125.00; 125.71
Sup: 123.50; 123.30; 122.80; 122.58
AUDUSD
Yesterday’s bearish acceleration that ended in long red daily candle, confirms strong bearish structure for final push towards key short-term support at 0.7531, 02 Apr low, for full retracement of 0.7531/0.8161 recovery rally. Setup of daily SMA’s remains firmly bearish, with indicators holding in the negative territory and daily 20d Bollinger bands expand. The notion is supported by red weekly/monthly candles. Near-term consolidation above fresh low at 0.7615, should be ideally capped under daily Ichimoku cloud base at 0.7715.
Res: 0.7672; 0.7715; 0.7735; 0.7759
Sup: 0.7640; 0.7615; 0.7570; 0.7531
Hourly recovery ascend from fresh low at 1.0818, posted on 27 May, probed above the first pivot at 1.0955, daily Ichimoku cloud base. Gains peaked at 1.0973, marking over 38.2% retracement of 1.1206/1.0818 downleg. Bullish hourly structure favors further recovery towards next strong barrier at 1.10 zone, week’s high and hourly lower platform. On the other side, daily chart setup remains bearish and sees limited upside action, ahead of fresh leg lower. Initial range is marked by supports at 1.0900, hourly bull-trendline off 1.0818 and 1.0865, yesterday’s NY session low, loss of which to signal bearish resumption and resistance at 1.0973, overnight’s high. Extension above 1.10 and 1.1030, daily 10SMA, would delay bears for stronger correction. The pair is posed for weekly / monthly close in red that confirms overall bears.
Res: 1.0973; 1.1008; 1.1030; 1.1058
Sup: 1.0900; 1.0865; 1.0818; 1.0800
GBPUSD
The pair remains under pressure and extended losses to 1.5258 yesterday, closing below pivotal 1.5335 support, Fibonacci 38.2% of 1.4563/1.5813 rally. Descending daily indicators, fresh bearish momentum and formation of daily 10/20SMA’s bear cross, maintain negative tone for further easing, as the pair is about to close in red for the second week. Next targets lay at 1.5188, 50% retracement and 1.5161, daily 55SMA. Corrective rallies should be capped under daily 20SMA at 1.5466, to keep bears in play and prevent further rallies towards next pivot at 1.5554, 200SMA.
Res: 1.5383; 1.5435; 1.5466; 1.5505
Sup: 1.5300; 1.5258; 1.5234; 1.5188
USDJPY
Near-term consolidation under fresh high at 124.44, levels last time seen in 2002, is so far supported at 123.50 zone, where hourly base is building. Bulls remain firmly in play and look for further upside. Prolonged consolidation and possible stronger pullback could be anticipated on end-of-the-week profit taking. Next supports lay at 123.30, former tops and 122.80, hourly higher base. So far no signals of stronger correction on overextended daily studies.
Res: 124.09; 124.44; 125.00; 125.71
Sup: 123.50; 123.30; 122.80; 122.58
AUDUSD
Yesterday’s bearish acceleration that ended in long red daily candle, confirms strong bearish structure for final push towards key short-term support at 0.7531, 02 Apr low, for full retracement of 0.7531/0.8161 recovery rally. Setup of daily SMA’s remains firmly bearish, with indicators holding in the negative territory and daily 20d Bollinger bands expand. The notion is supported by red weekly/monthly candles. Near-term consolidation above fresh low at 0.7615, should be ideally capped under daily Ichimoku cloud base at 0.7715.
Res: 0.7672; 0.7715; 0.7735; 0.7759
Sup: 0.7640; 0.7615; 0.7570; 0.7531
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