EUR/USD

The Euro bounced off yesterday’s fresh low at 1.2795 and regained psychological 1.2900 barrier, sidelining immediate downside risk. This would open way for stronger corrective action, as near-term structure turned positive, with clearance of 1.2911, Fib 50% of 1.3027/1.2795 descend, seen as confirmation. Fresh extension higher would face 1.2930/50 as initial barriers, with key near-term resistance and breakpoint, standing at 1.3000/25 zone. As the price action stabilized within 1.2900/1.2860 range, the latter acts as initial support, along with 1.2850, 50% of 1.2795/1.2903 upleg, where corrective dips should be ideally contained.

Res: 1.2900, 1.2911, 1.2928, 1.2950
Sup: 1.2860, 1.2850, 1.2818, 1.2795








GBP/USD

Recovery rally from 1.5157, last Friday’s low, accelerated after breaking above 1.5200 barrier and extended to 1.5280 so far, near Fib 76.4% of 1.5321/1.5157 fall. Hourly studies are positive, however, the freshly established bulls will remain fragile, as long as 1.5300, 55 day EMA and key near-term barrier at 1.5321, 16 May high / Fib 38.2% of 1.5586/1.5157, stay intact. Break here, however, to confirm near-term base and allow for extension of recovery phase that would eye next targets at 1.5372, 50% retracement and 1.5400, psychological barrier. To keep bulls in play, corrective dips should be contained at 1.5200 support zone.

Res: 1.5262, 1.5280, 1.5300, 1.5330
Sup: 1.5220, 1.5200, 1.5180, 1.5157







USD/JPY

The pair trades in a near-term corrective mode, as yesterday’s weakness off fresh high at 103.29, extended to important 102.00 zone, where temporary support has been found. Quick recovery shows regain of momentum, as hourly indicators are heading higher, however, break above 102.75/103.00, previous high / round figure resistance, is required to signal an end of corrective phase and shift focus higher. Current movements could be described as consolidative, while 102.00 and 101.80, 4h range floor, hold the downside, as daily chart bulls remain firmly in play.

Res: 102.75, 102.93, 103.12, 103.29
Sup: 102.00, 101.80, 101.25, 101.00







AUD/USD

The pair trades in a near-term recovery mode, as fresh strength that emerged from 0.9709 low, regained psychological 0.9800 barrier and so far retraced over 61.8% of 0.9912/0.9709 downleg. Hourly studies are positive and favor further upside, with regain of important 0.9920 resistance zone, 15 May high / Fib 38.2% of 1.0253/0.9709 / 55 day EMA, required to confirm near-term base and allow for stronger correction. From the other side, 4h indicators, emerging out of oversold zone and overextended daily conditions, are seen supportive for further recovery. Initial support lays at 0.9750 and should holds dips, to keep fresh bulls afloat.

Res: 0.9840, 0.9881, 0.9915, 0.9939
Sup: 0.9800, 0.9750, 0.9720, 0.9709