EURUSD - n/t focus shifts lower after recovery rejection; range remains in play

EURUSD

The Euro is losing traction and heads towards session low at 1.1116, after recovery attempt stalled on approach to near-term consolidation top at 1.1191.
Fresh downside action confirms negative signal, generated on yesterday’s bearish daily candle with long upper shadow.
Near-term studies are weak, while setup of daily MA’s remains bullish, with 20/200SMA’s Golden Cross formation and oversold daily Slow Stochastic, which is expected to generate bullish signal in the near-term, to delay attempts below pivotal 1.1120 pivot.
Break below 1.1120 handle will open 1.1075, sideways-moving daily Kijun-sen and key 200SMA support at 1.1055.
However, extended sideways mode could be anticipated while 1.1120 support holds.

Res: 1.1144; 1.1177; 1.1191; 1.1215
Sup: 1.1116; 1.1075; 1.1055; 1.1000








GBPUSD

Cable remains under pressure and hits fresh low at 1.4242, on today’s extension of two-day fall from 1.4533.
Yesterday’s sharp bearish acceleration, which left long red daily candle with long upper shadow, signaled strong downside pressure that closed below 1.4302 support, Fibonacci 61.8% of 1.4078/1.4665 recovery rally.
Also, yesterday’s fall turned daily MA’s into full bearish setup, together with Momentum studies that entered negative territory, maintaining downside pressure.
Caution on oversold daily Slow Stochastic, which may trigger bounce, before bears resume.
Falling daily 30SMA offers good resistance at 1.4386 and should ideally cap corrective attempts.

Res: 1.4350; 1.4386; 1.4514; 1.4576
Sup: 1.4242; 1.4200; 1.4147; 1.4078









USDCAD

The pair regained traction on a bounce from yesterday’s fresh low at 1.3704, driven by weaker oil.
Yesterday’s bullish close, with long-tailed daily candle, generated bullish signal and sidelined downside risk towards key support at 1.3637.
Fresh strength regained 10SMA, currently at 1.3875, with extended rallies still seen as selling opportunities, as daily studies are weak.
Descending daily 20SMA at 1.3970 is seen as ideal reversal point, ahead of pivots at 1.4014, 11 Feb recovery top and 1.4038, Fibonacci 38.2% of 1.4688/1.3637 downleg, break of which is needed to revive near-term bulls.
On the downside, yesterday’s low at 1.3704, offers initial support, reinforced by rising daily Ichimoku cloud base, ahead of breakpoint at 1.3637, 04 Feb low, loss of which will trigger fresh acceleration lower.

Res: 1.3909; 1.3937; 1.3970; 1.4014
Sup : 1.3844; 1.3795; 1.3704; 1.3637








AUDUSD

The pair is at the back foot and slides below 0.7100 handle, Fibonacci 38.2% of 0.6972/0.7180 upleg, following double upside rejection on a probe through descending thin daily Ichimoku cloud.
Yesterday’s close in red, with long upper shadow of daily candle, generated negative signal, suggesting further easing below session / yesterday’s low at 0.7080, where hourly base is forming and support being reinforced by rising daily 20SMA.
Break here is needed to resume weakness from 0.7180, yesterday’s high, towards next pivot at 0.7032, daily 30SMA / Kijun-sen, which guards key near-term support at 0.6972, 09 Feb trough.
Daily MA’s show mixed setup, while indicators are turning south and signal further weakness, supported by weak near-term studies.
However, extended consolidation could be expected while 20SMA support holds.
Daily 55SMA marks initial resistance at 0.7123, followed by sideways-moving 100SMA at 0.7142 and 0.7180, yesterday’s high and upper breakpoint.

Res: 0.7123; 0.7142; 0.7180; 0.7241
Sup: 0.7080; 0.7032; 0.7000; 0.6972