EURUSD

The Euro ended week at the back foot and closed near psychological 1.35 support, after losing 1.3580 platform and previous low at 1.3547, posted on 09 Jan. Bears remain firmly in play on near-term studies, with break below 1.35 handle expected to open 1.3479, Fibonacci 61.8% expansion of the third wave from 1.3698, ahead of double-Fibonacci support at 1.3430 zone, 76.4% expansion and 76.4% retracement of 1.3294/1.3892 upleg. Bears may be delayed by corrective rallies, as hourly RSI emerges out of oversold zone, while 4-hour studies are extended. Initial resistance lies at 1.3560, Fibonacci 38.2% of 1.3648/1.3506 downleg, ahead of more significant 1.3580, previous base and 50% retracement, reinforced by hourly 55DMA, and psychological / Fibonacci 61.8% resistance at 1.3600, where rallies should be capped.

Res: 1.3560; 1.3580; 1.3600; 1.3620
Sup: 1.3506; 1.3479; 1.3430; 1.3400





GBPUSD

Cable regained positive tone on last Friday’s strong rally off 1.6307 low that peaked at 1.6457, being capped by descending trendline from 1.6602 peak. Corrective pullback was so far contained at 1.64 zone, Fibonacci 38.2% of 1.6307/1.6457 upleg / hourly 55DMA, however, momentum-losing near-term technicals see risk of further easing, in case price fails to break trendline resistance at 1.6440 and previous peak at 1.6457. This would signal continuation of larger downtrend towards initial support at 1.6336, 06 Jan low and last week’s low at 1.6307. Conversely, lift above the first pivot at 1.6457, would open next strong barriers at 1.6500/15.

Res: 1.6440; 1.6457; 1.6500; 1.6515
Sup: 1.6393; 1.6364; 1.6336; 1.6307





USDJPY

The pair remains at the back foot and extends corrective phase off 14093 peak, with probe below 104 handle, testing 103.90, previous low and 50% retracement of 102.64/104.93. Negatively aligned hourly studies keep the downside at risk, especially if the price loses important 104.00/103.90 support, while slight positive tone exists on 4-hour studies. Holding above 103.90 would be a signal of further consolidation, as last Friday’s Doji shows indecision. On the upside, initial barrier lies at 104.47, while regain of more important 104.93/105 handle, is required to confirm bulls back in play for eventual attempt towards key 104.40/43 peaks. Otherwise, further weakness below 103.90, would face Fibonacci supports at 103.64 and 103.33, 61.8% and 76.4% of 102.84/104.93, with psychological 103.00 level seen in extension.

Res: 104.47; 104.93; 105.05; 105.34
Sup: 103.89; 103.64; 103.33; 103.00





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, face initial barrier at 0.8820 zone, previous low / consolidation top / 4-hour 20DMA, ahead of 0.8881, Fibonacci 38.2% of 0.9084/0.8755 / 55DMA, break of which to sideline immediate downside risk and allow for stronger bounce.

Res: 0.8826; 0.8863; 0.8881; 0.8900
Sup: 0.8755; 0.8733; 0.8700; 0.8658