EURUSD - recovery rally stays capped at 1.1300 for now

EURUSD

The Euro extends recovery from 1.1215 support (yesterday’s low / Fibo 38.2% of 1.0820/1.1463 rally) and cracks initial barrier at 1.1283 (Fibo 38.2% of 1.1396/1.1215 downleg), eyeing pivotal barrier at 1.1300 (daily Tenkan-sen / Kijun-sen lines / hourly cloud top).
However, the downside will remain vulnerable, as technicals are negatively aligned and while the price remains under 1.1300 handle, recovery stall could be anticipated.
Conversely, sustained break above 1.1300 will generate bullish signal for further recovery, while lift above 1.1330 (20SMA / Fibo 61.8% of 1.1396/1.1215 downleg), is needed to confirm reversal and expose 1.1400 breakpoint.
The pair is awaiting tomorrow’s FOMC policy decision, for fresh near-term direction.


Res: 1.1303; 1.1330; 1.1353; 1.1400
Sup: 1.1254; 1.1215; 1.1191; 1.1143






GBPUSD

Cable establishes above 1.4500 handle, on fresh bullish acceleration on stop-triggering rally above pivotal 1.4512 barrier (former top of 18 Mar).
Studies are bullish on all timeframes and favor further upside, with psychological 1.4600 barrier being initial target and extension to more significant 1.4665 resistance (high of 04 Feb), seen in coming sessions.
Daily Slow Stochastic is overbought, but no reversal signal being generated yet. Dip-buying is seen as favored scenario, with hourly higher base offering good support at 1.4480, followed by 100SMA at 1.4420.

Res: 1.4600; 1.4665; 1.4700; 1.4750
Sup: 1.4512; 1.4480; 1.4420; 1.4400






USDJPY

The pair extends pullback from fresh high at 111.85 and tests strong supports at 110.75/65 zone (daily Kijun-sen / former congestion low of 17 Mar, reinforced by daily 30SMA).
Yesterday’s close in red and today’s fresh bearish acceleration, signals increased risk of break below 110.65 handle, which is seen as ideal reversal point.
Daily Slow Stochastic is reversing from oversold territory and signaling possible bearish extension, which will look for next strong support at 110.00 (psychological support / daily 20SMA).
Alternatively, fresh upside attempts could be expected while 110.65 holds, with lift above 111.30 (hourly lower platform), needed to confirm and re-expose barriers at 111.85 (25 Apr high) and 112.64 (daily cloud base).

Res: 111.30; 111.85; 112.33; 112.64
Sup: 110.65; 110.00 109.83; 109.24






AUDUSD

The Aussie is attempting to build near-term base at 0.7700 zone, which was cracked on pullback from 0.7833 peak, but bears were unable to clearly break lower. Fresh acceleration higher, brings near-term bulls back to play, as rally broke above initial resistance at 0.7725 (yesterday’s high / daily Tenkan-sen).
Bullish extension above 0.7761/72 (hourly cloud top / lower top of 22 Apr), is needed to confirm higher base at 0.7700 zone, for fresh attempts at key 0.7833 peak (21 Apr high).
Overall picture remains bullish.

Res: 0.7761; 0.7772; 0.7833; 0.7850
Sup: 0.7695; 0.7669; 0.7620; 0.7570