EURUSD

Near-term structure remains positive, as the Euro closed Monday’s trading in another long bullish candle and above psychological 1.10 barrier. Bulls peaked at 1.1040, after cracking daily 100SMA at 1.1030 and being rejected just under 1.1047, Fibonacci 38.2% of 1.1434/1.0807 descend. Today’s pullback under 1.10 handle, is so far seen as corrective and looks to find footstep above daily 20SMA at 1.0946, to keep near-term bulls in play. Renewed attempts higher, need to clear 1.1047 barrier, to signal fresh weakness and expose breakpoint at 1.1128, 27 July lower top. Otherwise, downside risk would remain in play, as underlying trend remains bearish, with return below daily 20SMA, to soften near-term tone.

Res: 1.1011; 1.1030; 1.1040; 1.1065
Sup: 1.0959; 1.0946; 1.0924; 1.0890







GBPUSD

Cable returned above the mid-point of near-term range, after brief violation of range’s floor on Friday’s dip to 1.5420. Yesterday’s quick recovery that left long bullish daily candle, improved near-term technicals and neutralized downside risk, seen on test of daily cloud’s base on Friday. Fresh upside attempts look for extension above daily cloud top, currently at 1.5606, to re-expose key 1.5670 resistance zone and lower platform, break of which is needed to signal resumption of recovery phase from 1.5327, low of 08 July. Return and yesterday’s close above daily 20SMA, currently at 1.5571, gives positive signal, however, neutral mode of daily studies and contracting 20d Bollinger bands, suggest further sideways trading in the near-term.

Res: 1.5603; 1.5639; 1.5650; 1.5688
Sup: 1.5556; 1.5534; 1.5492; 1.5465






USDJPY

The pair regains bullish tone on near-term studies, after corrective pullback from upside rejection at 125 barrier, found support at 124.09, where dips were contained by ascending daily 20SMA. Yesterday’s long bullish daily candle and today’s fresh acceleration higher, look for break through 125 hurdle, to open way for final push towards key 125.84 barrier, 05 June peak. The notion is supported by strong bullish tone on daily studies, with daily 20SMA, underpinning the action. Initial support lies at 124.50, session low, ahead of pivotal 124.09, hourly base, reinforced by daily 20SMA.

Res: 125.05; 125.55; 125.84; 126.50
Sup: 124.50; 124.09; 123.50; 123.00






AUDUSD
Aussie fell sharply on action from China’s Central bank, leaving recovery tops above 0.74 barrier. Fresh weakness comes after Yesterday’s Doji that signaled hesitation above 0.74 and dipped so far near 0.73 support. Near-term studies are turning into negative mode, along with overall bearish structure, see increased downside risk. Firm break below 0.73 handle, to confirm double-top on 4-hour chart and return focus towards fresh 6-year lows at 0.7250/33. Broken daily 20SMA, offers immediate resistance at 0.7346, guarding recovery tops at 0.7426/35. Below 0.73 handle, initial support lies at 0.7260, ahead of spike low of 31 July at 0.7233 and short-term target at 0.7204, Fibonacci 76.4% of multi-year 0.6007/1.1079 rally.

Res: 0.7346; 0.7400; 0.7426; 0.7435
Sup: 0.7303; 0.7260; 0.7233; 0.7204