AUDUSD - near-term bulls focus 0.7280 pivot

EURUSD

The Euro peaked at 1.0937 yesterday, on two-day rally from 1.08 base, with recovery being so far capped by falling daily 55SMA, which guards more significant daily Ichimoku cloud base at 1.0950.
Near-term technicals are gaining traction and support fresh attempts higher. On the daily chart, indicators are in positive territory, with reversed slow Stochastic, heading north and showing more room upside.
Penetration into daily cloud, is needed to signal bullish resumption towards psychological 1.10 barrier and 1.1058 pivot, lower top of 15 Dec.
Low of narrow Asian range at 1.0900, marks initial support, with hourly Ichimoku cloud top, also Fibonacci 61.8% of 1.0801/1.0937 recovery at 1.0854, expected to ideally contain dips.
Conversely, break below thin hourly cloud, would risk return to 1.08 base.

Res: 1.0921; 1.0937; 1.0950; 1.1009
Sup: 1.0900; 1.0885; 1.0854; 1.0841






GBPUSD

Cable holds in extended, narrow-range consolidation, above fresh eight-month low at 1.4863, where weekly bear-channel support line contained strong fall from 1.5237, 11 Dec peak.
Technicals remain negative and favor bearish resumption, but prolonged consolidation, with corrective upticks, is expected to precede, as daily slow Stochastic is oversold.
Initial resistance lies at psychological 1.50 level, also Fibonacci 38.2% of 1.5237/1.4863 downleg, where corrective rallies should be ideally capped.
Falling daily 20SMA, also mid-point of 1.5237/1.4863 descend, marks pivotal barrier and sustained break here would be a signal of stronger correction.


Res: 1.4927; 1.4948; 1.5000; 1.5050
Sup: 1.4863; 1.4830; 1.4812; 1.4737









USDJPY

The pair returns to directionless near-term mode, holding within narrow range today, after posting fresh low at 120.82, where daily Ichimoku cloud base contained. Yesterday’s trading was shaped in long-legged Doji and entrenched within daily cloud (120.82/121/49), signaling indecision.
Overall structure remains weak and sees risk of bearish resumption through daily cloud base, towards pivotal support at 120.33, higher low of 14 Dec.
On the upside, daily cloud top is reinforced by sideways-moving 200SMA and marks trigger for stronger recovery, on sustained break higher.


Res: 121.29; 121.50; 122.18; 122.50
Sup: 121.03; 120.82; 120.56; 120.33






AUDUSD

The pair establishes above 0.72 handle on today’s strong acceleration higher, which extends two-day recovery from 0.7095, 17 Dec low.
Fresh rallies probe above daily 20 SMA, also 50% of 0.7383/0.7095 fall and focus next barrier at 0.7280 zone, lower tops of 15/16 Dec and just above Fibonacci 61.8% retracement.
Daily technicals are gaining traction, with bullishly aligned near-term studies keep upside in focus.
Close above 0.7280 is needed to confirm scenario.
On the downside, session low at 0.7180, reinforced by daily 10SMA, offers solid support, above which corrective actions should be contained. Only loss of 0.7150, hourly higher base and Fibonacci 61.8% of recovery from 0.7095, would neutralize near-term bulls.

Res: 0.7280; 0.7300; 0.7332; 0.7383
Sup: 0.7198; 0.7180; 0.7150; 0.7130