EURUSD

The Euro consolidates above fresh low at 1.3506, with the upside attempts being limited by hourly 55DMA /daily 100DMA / daily cloud base at 1.3566. Weak near-term studies do not see much of the upside prospect for now, as layers of strong resistances lay above, with the next ones at 1.3580, previous base and 38.2% retracement of 1.3698/1.3506 and 1.36 zone, 50% retracement / daily cloud top / 4-hour 55DMA, above which comes double-Fibonacci barrier at 1.3625 and lower top of 16 Jan at 1.3648. Only break here would neutralize near-term bears and turn near-term focus towards the upside. Otherwise, lower top, ideally around 1.36 handle, where broken bull-trendline off 1.2754 low reinforces barrier and fresh weakness, is seen as preferred near-term scenario. Break below 1.35 handle to resume weakness off 1.3892 top and expose 1.3435, Fibonacci 76.4% of 1.3294/1.3892 and psychological 1.3400 support.

Res: 1.3566; 1.3580; 1.3600; 1.3625
Sup: 1.3506; 1.3460; 1.3430; 1.3400







GBPUSD

Cable trades in near-term consolidative mode, with price action entrenched within 1.6457/1.6393. The pair is so far unable to clearly break above bear-trendline off 1.6602 peak, currently at 1.6430 and last Friday’s peak at 1.6457 that keeps the downside risk in play. However, near-term technicals remain positively aligned, with hourly studies lacking momentum for now. Sustained break above 1.6457 is required to resume rally off 1.6393 and confirm bottom at 1.6393 that would open next significant barrier at 1.6515, 10 Jan lower top, for retest. Otherwise, downside risk would increase in case of violation of initial support and higher base at 1.64 zone.

Res: 1.6457; 1.6500; 1.6515; 1.6577
Sup: 1.6422; 1.6409; 1.6393; 1.6364






USDJPY

The pair regained strength after finding ground at 103.90 support zone, as fresh rally approaches initial barrier at 104.93. Break here is required to complete 104.93/103.85 corrective phase and confirm higher low formation for fresh attempt towards key hurdles at 105.40 zone. Positive near-term technicals support the notion, with overbought hourly studies seeing possible hesitation on approach. Downside should be ideally protected at 104.40, hourly 20DMA / hourly Kijun-sen line, to keep freshly established bulls off 103.85 intact. Otherwise, lower top formation and return to initial 103.90 support zone, with increased downside risk, would be likely scenario.

Res: 104.78; 104.93; 105.05; 105.34
Sup: 104.56; 104.40; 104.13; 103.89






AUDUSD

The pair remains in narrow range consolidative phase, after posting fresh low at 0.8755, with near-term tone being negatively aligned. Overall picture remains bearish and favors further downside, as acceleration through previous base at 0.8820 and psychological 0.8800 support signals resumption of larger downtrend towards next targets at 0.8576/43, Feb 2010 low / 50% retracement of multi-year 0.6007/1.1079 rally. Corrective rallies on oversold near-term studies remain capped at range top t 0.8830 zone, previous low / consolidation top / 4-hour 20DMA that keep the upside attempts limited. Only extension above 0.8881, Fibonacci 38.2% of 0.9084/0.8755 and psychological 0.8900 barrier would provide near-term relief.

Res: 0.8836; 0.8863; 0.8881; 0.8900
Sup: 0.8775; 0.8755; 0.8733; 0.8700