EURUSD

The Euro trades in a near-term consolidative phase, after last week’s sharp fall, the biggest weekly loss in over one year. The pullback from 1.3831 peak was for now contained at very strong daily support at 1.3450/20 zone, previous peaks of 19/06 and 20/08 / daily cloud top and Fibonacci 38.2% of larger 1.2754/1.3831 ascend. Narrow range consolidation around 1.35 handle is capped by hourly 55DMA, with negative near-term technicals, keeping the downside at risk. Overextended 4-hour chart conditions suggest stronger bounce, however, the pair so far lacks strength for any more significant bounce. Above 1.35 barrier, initial resistances lay at 1.3590, 38.2% retracement of 1.3831/1.3441 downleg and 1.3640, 50% retracement / 55DMA. On the downside, penetration through 1.3450/20 breakpoint, to trigger fresh extension of bear-phase from 1.3831 and open 1.33 zone, 50% retracement of 1.2754/1.3831.

Res: 1.3523; 1.3565; 1.3590; 1.3640
Sup: 1.3461; 1.3441; 1.3420; 1.3400






GBPUSD

Cable trades in extended consolidative phase, after testing critical 1.5900 support, with price action being capped under initial barrier, also pivotal point at 1.6000. Near-term structure remain weak that favors further downside, as loss of 1.59 base is to confirm double-top pattern formation and trigger stronger reversal of 1.4812/1.6259 bull-phase. Further consolidation, however, cannot be ruled out, with break above 1.6000 handle required to ease immediate bear-pressure. Only regain of 1.6075 lower tops and 50% retracement of 1.6254/1.5901, would sideline bears and signal stronger recovery.

Res: 1.5984; 1.6000; 1.6040; 1.6075
Sup: 1.5901; 1.5892; 1.5850; 1.5800






USDJPY

The pair extends corrective phase off fresh high at 98.84, where recovery rally stalled, short of key barrier at 98.99. Near-term studies lost traction that increases risk of further easing. Loss of initial support, bull-trendline at 98.22 and more significant 98.00 handle, near 50% of entire 96.93/98.00 ascend, would sideline bulls and open way for towards 97.80, 01/11 higher low and 97.66, 61.8% retracement. Otherwise, holding above 98.00, would keep bulls in play for renewed attempt higher. Break above 98.84 to open 98.99, 17/10 peak and shift focus towards 99.65, 20/09 high and psychological 100 barrier in extension.

Res: 98.52; 98.84; 98.99; 99.12
Sup: 98.20; 98.05; 97.80; 97.66






AUDUSD

The pair remains under pressure, with near-term corrective rally from fresh low at 0.9420, being capped by 55DMA at 0.9520. As the studies on lower timeframes remain weak, further sideways movements would be likely near-term scenario, with break below 0.9420, also 38.2% retracement of 0.8891/0.9755 upleg, required to resume bears off 0.9755. Weakening daily studies support the notion. Only break above congestion top at 0.9520 would delay bears for stronger corrective action towards Fibonacci 38.2% and 50% retracement of 0.9755/0.9420 downleg at 0.9548 and 0.9587 respectively.

Res: 0.9524; 0.9548; 0.9587; 0.9621
Sup: 0.9462; 0.9420; 0.9400; 0.9388