EURUSD in sideways mode ahead of Fed; hourly cloud caps

EURUSD

The Euro continues to trade in narrow consolidative range, above fresh low at 1.0995, awaiting today’s Fed statement. Neutral tone prevails on near-term studies, with pivotal barriers at 1.1094, broken bear-trendline, connecting 1.1712/1.1458 peaks and 200SMA at 1.1112, being intact for now.
Initial barrier, hourly Ichimoku cloud, spanned at 1.1046/1.1067, capped upside attempts, as the price reversed lower, after penetrating into cloud.
This shifts near-term focus back at psychological 1.10 support, break of which would trigger fresh losses and expose 1.08 zone, as next significant support

Res: 1.1046; 1.1067; 1.1094; 1.1112
Sup: 1.1023; 1.0995; 1.0955; 1.0900






GBPUSD

Cable trades in narrow consolidation, above fresh low at 1.5281, posted on probe below 1.53 support. Near-term studies are bearishly aligned, with daily indicators breaking into negative territory and setup of daily MA’s turning to full bearish setup, following yesterday’s close in red and below 20, 30 and 200SMA’s.
Bearish resumption will be looking for immediate target at 1.5258, Fibonacci 61.8% of 1.5105/1.5506 recovery leg, with close below here to confirm lower platform at 1.5506 and open way towards 1.5200, Fibonacci 76.4% retracement and 1.5105, 01 Oct low.
Conversely, dovish tone of today’s Fed’s statement would spark fresh recovery of Sterling and sideline immediate downside risk.

Res: 1.5313; 1.5331; 1.5380; 1.5420
Sup: 1.5281; 1.5258; 1.5200; 1.5150





USDJPY

The pair enters quiet near-term mode, ahead of today’s Fed, with weakening near-term structure, following yesterday’s brief probe below pivotal supports at 120.26/16, daily Ichimoku cloud base / Fibonacci 38.2% of 118.05/121.46 upleg.
Immediate downside risk was averted after the support contained and daily close occured above. However, risk of fresh attempts lower remains in play, as daily slow Stochastic reversed from oversold territory and heads south, showing more room for extension of pullback from 121.46.
Repeated violation of 120.26/16 supports and psychological 120 level, reinforced by daily 20SMA, would signal fresh weakness and confirm near-term top at 120.46.
Alternative scenario requires break above daily cloud top at 120.70, as initial bullish signal and daily close above 20SMA at 120.97, to neutralize bearish threats and re-focus upside targets at 121.46 and 121.64.

Res: 121.08; 121.46; 121.64; 121.78
Sup: 120.26; 120.16; 119.60; 119.35






AUDUSD

Aussie came under strong pressure after release of disappointing Q3 CPI data, with fresh bearish acceleration being triggered. Break below near-term congestion floor at 0.7180, triggered fresh leg lower, which so far touched next pivot at 0.7105, Fibonacci 61.8% of 0.6935/0.7380 upleg.
Bears returned fully in play on near-term studies, while daily momentum studies entered negative territory and indicators are heading south. Also, setup of daily MA’s turned bearish that keeps the downside in focus.
Daily close below 0.7105, Fibonacci 61.8%, is needed to confirm top at 0.7380 and spark fresh weakness.
However, oversold near-term studies suggest corrective action, preceding fresh bearish action. Daily Ichimoku cloud top at 0.7196, also near Fibonacci 61.8% of 0.7256/0.7105 downleg, should be capping upside attempts.

Res: 0.7144; 0.7165; 0.7196; 0.7226
Sup: 0.7105; 0.7040; 0.7000; 0.6935