Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 90
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EURUSD
The Euro remains under pressure and left lower top at 1.3639, after fresh acceleration lower probes levels below 1.3585/74 supports. The way towards 1.35 base and key short-term support, is now open, as fresh weakness retraced nearly 76.4% of 1.3502/1.3699 rally. Bearish near-term studies support the notion, as daily tools are building bearish momentum for eventual completion of 1.3502/1.3699 phase, with probe below 1.35 base / main bull trendline off 1.2042 and return to another pivotal short-term support at 1.3475, 03 Feb higher low, to complete larger, Feb/May 1.3475/1.3699 ascend. Corrective rallies should find ideal cap at previous supports at 1.3585 and 1.3600, while only sustained break above the latter would delay immediate bears.
Res: 1.3574; 1.3585; 1.3600; 1.3625
Sup: 1.3556; 1.3534; 1.3511; 1.3502
GBPUSD
Cable rallied sharply and escaped from dangerous territory, neutralizing downside risk, which started to build up on a break below 1.71 handle. Strong rebound recovered all near-term losses and posted marginally higher high at 1.7189. This brought near-term focus back to the upside levels, for resumption of larger uptrend, being paused by 1.7177/1.7057 corrective phase, with reversal signaled by bullish engulfing pattern. Positively aligned near-term studies and already bullish larger picture, support the notion, however, close above near-term tops is required to confirm.
Res: 1.7166; 1.7177; 1.7189; 1.7200
Sup: 1.7123; 1.7108; 1.7095; 1.7068
USDJPY
The pair continues to move higher, on near-term corrective rally off fresh low at 101.05, posted on 05 July. Fresh extensions retraced over 76.4% of 102.25/101.05 descend, with positive near-term studies being supportive. The price action approaches the lower boundary, previous 09 July high / 200 SMA, of pivotal 101.85/102.00 resistance zone, break of which is required to confirm recovery. However, caution is still required as daily studies are weak and risk of lower top formation will persist while 102 barrier stays intact. Otherwise, break here to open next pivotal barriers at 102.25/35.
Res: 101.75; 101.85; 102.00; 102.25
Sup: 101.62; 101.42; 101.37; 101.20
AUDUSD
Near-term recovery attempt lost traction after spiking at 0.9454 and subsequent weakness nearly fully retraced 0.9327/0.9454 upleg. This brought immediate risk at key 0.9320 higher platform and Fibonacci 61.8% retracement of 0.9209/0.9503 ascend, with break here to trigger fresh extension of reversal from 0.9503 peak, which was interrupted by 0.9327/0.9454 corrective rally. Negative near-term studies support further weakness, however, hesitation ahead of 0.9320 base could be expected, as hourly studies are oversold. Corrective rallies should stay under 0.94 barrier, to keep fresh bears intact.
Res: 0.9376; 0.9407; 0.9429; 0.9454
Sup: 0.9327; 0.9320; 0.9300; 0.9250
EURUSD
The Euro continues to trend lower and looks for retest of key support and near-term target at 1.35 base, to complete 1.3502/1.3699 ascend. The third wave, which commenced from 1.3649 lower top, met its 100% Fibonacci expansion at 1.3520, where the pair entered consolidative phase, ahead of final push to 1.3502 low. Overall negative structure sees scope for further extension of larger downmove off 1.3699 peak, with the wave expected to extend to 1.3475/70, 03 Feb higher low / Fibonacci 138.2% expansion and 1.3440, 161.8% expansion. Stronger corrective actions should find good barrier at 1.3570, previous lows zone / lower platform / 50% retracement of 1.3639/1.3519 downleg.
Res: 1.3532; 1.3560; 1.3572; 1.3585
Sup: 1.3519; 1.3502; 1.3470; 1.3440
GBPUSD
Cable trades in extended corrective phase off fresh high at 1.7189, after strong recovery rally failed to sustain gains above previous high and resume larger uptrend. Further sideways trading, shown on larger timeframes, seems to be likely scenario, as the pair failed to capitalize on 15 July strong rally and change of direction, signaled by outside day candle. Near-term structure is weakening, as the price so far dipped to the levels close to 1.71 support, previous breakpoint and Fibonacci 61.8% retracement of 1.7057/1.7189 upleg. Break here to confirm negative near-term stance and re-focus lower range levels. However, daily structure remains firmly bullish and sees fresh attempts higher favored, once corrective action is over. Fresh low at 1.7057 is expected to hold and prevent the pair from more significant pullback.
Res: 1.7149; 1.7166; 1.7189; 1.7200
Sup: 1.7111; 1.7089; 1.7068; 1.7057
USDJPY
The pair corrects recent rally that peaked at 101.78, with dips being so far contained at 101.44, just above 15 July spike low and 50% retracement of 101.05/101.78 upleg, where corrective actions should ideally reverse. Reversing hourly RSI and positive 4-hour structure supports such scenario and sees scope for eventual attempt through pivotal 101.85, 09 July high / psychological 102 barrier, also daily cloud base, break of which to confirm bullish resumption and open next breakpoints at 102.25/35. Alternatively, loss of 101.40/30 support zone, current lows and Fibonacci 61.8% / previous consolidation tops, to bring bears back in play for possible return to 101 support zone.
Res: 101.61; 101.78; 101.85; 102.00
Sup: 101.44; 101.33; 101.20; 101.05
AUDUSD
The pair remains under pressure as near-term recovery attempt off 0.9327, 03 July low, lost traction after spiking at 0.9454 and subsequent weakness fully retraced 0.9327/0.9454 upleg. This brought immediate risk at key 0.9320 higher platform and Fibonacci 61.8% retracement of 0.9209/0.9503 ascend, with break here to trigger fresh extension of reversal from 0.9503 peak, which was interrupted by 0.9327/0.9454 corrective rally. Negative near-term studies support further weakness, however, hesitation ahead of 0.9320 base could be expected, as hourly studies are oversold. Corrective rallies should stay under 0.94 barrier, to keep fresh bears intact.
Res: 0.9396; 0.9407; 0.9429; 0.9454
Sup: 0.9327; 0.9320; 0.9300; 0.9250
EURUSD
The Euro consolidates above 1.35 base / trendline support, which was cracked last Friday, on a spike to 1.3489. Te break was short-lived, with near-term indecision confirmed by double Doji candle. Mixed near-term studies confirm the sideways mode, as hourlies gained some strength and retraced 38.2% of 1.3639/1.3496 descend, while 4-hour structure remains negative. This sees corrective attempts limited, as larger picture remains bearish and favor eventual clear break of pivotal 1.35/1.3475 support zone, to trigger fresh weakness. Former lows that form layers of resistances between 1.3465 and 1.3485, should serve as solid resistances, before the pair commences fresh leg lower. Alternatively, lift above 1.36 handle would delay attempts at 1.35 base for stronger recovery, with pivotal barriers at 1.3639/49 lower tops.
Res: 1.3538; 1.3563; 1.3575; 1.3585
Sup: 1.3522; 1.3502; 1.3489; 1.3475
GBPUSD
Cable holds negative near-term tone, as corrective phase off fresh high at 1.7189, fully retraced 1.7057/1.7189 upleg and extended weakness to 1.7034, fresh low, posted last Friday. This sees scope for fresh attempts lower and test of psychological 1.7000 support, as lower timeframe’s studies turned bearish after false break higher, with corrective rallies seen ahead of fresh weakness and ideally to be capped at 1.7100/10 zone, lower top and 38.2% / 50% retracement of 1.7189/1.7034 descend. Loss of 1.70 handle, also Fibonacci 38.2%, to open way for further retracement of 1.6697/1.7189 upleg.
Res: 1.7100; 1.7115; 1.7148; 1.7166
Sup: 1.7075; 1.7057; 1.7034; 1.7000
USDJPY
The pair maintains overall negative tone after recovery rejection at 101.78 failed to test pivotal 101.85/102 barriers and fresh weakness retested 101.05 low. Downside pressure persists and sees eventual push below psychological 101 support, for test of critical 100.81/74 support, below which to commence fresh bear-leg, resumption of larger downmove off 105.43, 02 Jan peak. Corrective rally was so far capped at 101.43, 50% of 101.78/101.07 descend, with more significant results, requiring break above 101.85/102 hurdles, to sideline overall bears.
Res: 101.43; 101.56; 101.78; 101.85
Sup: 101.18; 101.05; 100.81; 100.74
AUDUSD
The pair trades in near-term range mode after upside attempts were limited at 0.94 zone, with the downside being protected strong 0.9320 support and short-term base, also daily cloud top. Improved near-tem studies on a rally from marginally higher low at 0.9334, keep the price at the upper part of the range, with attempts above 0.94 handle seen in play in the near-ter. Break higher requires confirmation on regain of 0.9454 spike high, to confirm break into the upper part of short-term 0.9320/0.9503 range and open key 0.9503 peak for retest.
Res: 0.9408; 0.9436; 0.9454; 0.9503
Sup: 0.9327; 0.9320; 0.9300; 0.9250
EURUSD
The Euro continues to trade in consolidative mode above 1.35 base / main bull-trendline off 1.2042 low, strong support which was cracked last Friday, on a spike lower to 1.3489. The pair failed to sustain break and entered narrow–range sideways trade, after limited recovery attempt, being capped at 1.3547, Fibonacci 38.2% retracement of 1.3639/1.3489 downleg. Triple Doji candle confirms near-term indecision. Hourly studies are neutral, while 4-hour structure remains negatively aligned, suggesting further downside as favored scenario, on completion of limited corrective actions. Fresh leg lower requires clear break below 1.35 handle and 1.3475, 03 Feb low, to confirm bearish resumption and enter stronger correction of larger 1.2042, July 2012 low / 1.3992, May 2014 peak. Extended correction above 1.3547, to face strong barrier at 1.3575/85, former lows and Fibonacci 61.8% retracement of 1.3690/1.3489 descend, where rallies should be ideally capped, while break here would delay bears and open key lower tops at 1.3639/49, 14/10 July highs.
Res: 1.3547; 1.3575; 1.3585; 1.3626
Sup: 1.3512; 1.3502; 1.3489; 1.3475
GBPUSD
Cable holds negative near-term tone and consolidates losses off 1.7189 peak, which posted fresh low at 1.7034 on 18 July. Upside attempts stay so far limited at 1.71 barrier that keeps downmove off 1.7189 intact, for test of psychological 1.7000 support and deeper pullback, seen on sustained break lower. Near-term technicals are weak and support further descend. Alternatively, clear break above 1.71 handle to delay bears and confirm prolonged sideways movements.
Res: 1.7100; 1.7115; 1.7148; 1.7166
Sup: 1.7075; 1.7057; 1.7034; 1.7000
USDJPY
The pair extends near-term recovery off 101.05, after leaving higher low at 101.22 and extending above previous high at 101.43. Rally retraced over 61.8% of 101.78/101.05 descend, seeing potential for attempt at the first pivot at 101.78, break of which to confirm double bottom formation and pen way for stronger recovery, which also requires lift above 101.85 lower top / 55/200SMA death-cross. Overbought hourly studies suggest a pause in current rally, with increased downside risk seen on extension below 101.35, 38.2% of 101.07/101.56 / 20/55SMa bull-cross. However, overall negative structure so far sees upside actions limited and downside favored, while 101.85/102.25 barriers stay intact.
Res: 101.56; 101.78; 101.85; 102.00
Sup: 101.43; 101.26; 101.18; 101.05
AUDUSD
The pair trades in near-term range mode, with the upside so far being limited at 0.94 zone and the downside protected at strong 0.9320 support and short-term base, also daily Ichimoku cloud top. Improved near-tem studies on a rally from 0.9334, which left higher low at 0.9358, keep the price at the upper part of the range, with attempts above 0.94 handle seen as favored in the near-term. Break higher requires confirmation on regain of 0.9454 spike high, to confirm break into the upper part of short-term 0.9320/0.9503 range and open key 0.9503 peak for retest.
Res: 0.9408; 0.9436; 0.9454; 0.9503
Sup: 0.9358; 0.9327; 0.9320; 0.9300
EURUSD
The Euro establishes below 1.35 handle and continues to move lower after closing below pivotal support and brief consolidation, which occurred before fresh push lower. Overall bearish structure keeps the downside focused, with immediate target at psychological 1.34 level and 1.3294, 07 November 2013 higher low, seen in extension. Corrective rallies on oversold conditions are expected to pause descend. Consolidative range high at 1.3472, offers immediate resistance, ahead of 1.35, previous base and broken bull-trendline at 1.3530, while lower top at 1.3547, is expected to cap rallies.
Res: 1.3472; 1.3500; 1.3530; 1.3547
Sup: 1.3436; 1.3400; 1.3350; 1.3294
GBPUSD
Cable maintains negative near-term tone and continues extend descend off 1.7189 peak, after breaking below 1.7034 18 July low. Upside attempts were capped at 1.71 barrier that keeps downmove off 1.7189 intact, for test of psychological 1.7000 support and deeper pullback, seen on sustained break lower. Near-term technicals are bearish and support further downside, with consolidative actions seen preceding fresh push lower. Alternative scenario requires, clear break above 1.71 handle to avert immediate downside risk.
Res: 1.7081; 1.7100; 1.7115; 1.7148
Sup: 1.7020; 1.7000; 1.6950; 1.6933
USDJPY
The pair trades in near-term sideways mode after recovery phase off 101.05 low was limited at 101.59. Repeated upside failure weakens hourly structure, while 4-hour tone is negative. Upside resumption requires lift above initial 101.59 barrier and pivotal lower tops at 101.78/85, to bring bulls fully in play, otherwise increased downside risk could be expected on a loss of initial 101.30 support, also near-term consolidation floor. Break lower to re-focus strong 101.05 and
Res: 101.59; 101.78; 101.85; 102.00
Sup: 101.30; 101.18; 101.05; 100.81
AUDUSD
The pair moves higher and eventually broke above 0.9454, 10 July spike high, retracing over 76.4% of 0.9503/0.9327 descend. This opens way for final push towards key 0.9503 barrier and peak of 01 July, clearance of which to signal an end of corrective phase and resumption of larger uptrend. Consolidative/corrective action s on overbought near-term studies are expected to precede fresh push higher, with dips to be ideally contained at 0.94 handle, to keep bulls intact.
Res: 0.9498; 0.9503; 0.9550; 0.9600
Sup: 0.9417; 0.9400; 0.9378; 0.9358
EURUSD
The Euro reached a downtrend low of 1.3365 on the 30th of July. It dropped back to this level on the 31st and failed to break it confirming it as a support; as a result we saw it rise the next session on Friday 65 pips to achieve a high of 1.3443 which is our first resistance level for today.
On the short term our outlook is bullish if EURUSD can hold above 1.3400, with targets at 1.3445 & 1.3455. However we are not expecting any important figures which could lead the weak trading today
Res: 1.3445, 1.3475, 1.3500
Sup: 1.3315, 1.3340, 1.3365
GBPUSD
Sterling has been dropping strongly over the past 2 weeks finding no problems achieving new lows for the current downtrend on all time frames. The downtrend started on the 15th of July from 1.7190 and achieved a new low on last Friday of 1.6807. A lot of momentum indicators are telling us it’s in oversold territory but they have been doing so for some time now and it had kept falling. So we will keep an eye out for reversal signals before we go to a bullish outlook
Res: 1.6890, 1.6920, 1.6965
Sup: 1.6810, 1.6780, 1.6755
USDJPY
The key level to monitor on USDJPY is resistance 103. It was the daily high of Wednesday, Thursday and Friday of last week. So now we have 3 failed attempts so far to break above this strong resistance. The reason the market found resistance at this particular level is that if we take a look at the daily chart, we will notice it was the also the high of the 2.5.14 daily candle that it also failed to break at that time. USDJPY made a correction of 70 pips on Friday making a low of 102.30 (our first current support)
Res: 103.00, 103.40, 103.70
Sup: 102.30, 102.00, 101.80
Gold
Last Thursday gold managed to break important support 1290. What confirmed this is the daily candle closing below this level at 1280. However on Friday it failed to make a new low and as a result gained back all the loss it made on Thursdays rising back up 16 dollars. We can notice also is that the high of Thursday and Friday is at the same level 1297 confirming it as our first resistance.
So we will keep a bullish outlook if trading remains above 1280
Res: 1297, 1304, 1312
Sup: 1280, 1266, 1259
EURUSD
Due to lack of important economic figures affecting the euro zone area or the US yesterday we saw very weak action on EURUSD during the first trading session of the week. The daily range between high and low was only 20 pips. As a result the outlook remains bullish with an attempt to break first resistance at 1.3445.
The only important data to look for today will be at 14:00 GMT from the US ISM Non-Manufacturing PMI expected to be optimistic at 56.6 close to the previous reading of 56.0
Res: 1.3445, 1.3475, 1.3500
Sup: 1.3365, 1.3340, 1.3315
GBPUSD
We witnessed a little bit of bullish action yesterday on the sterling seeing it rise 50 pips from the daily low to close near the high at 1.6862. The daily low at was an attempt the break below our first support at 1.6810. It looks now heading to attempt to break above 1.6890 resistances. UK construction PMI was as optimistically expected yesterday which helped give it some support.
Today we are also expecting PMI figures from the UK at 08:30 GMT however this time concerning the service sector. Expectations are also optimistic 58.1
Res: 1.6890, 1.6920, 1.6965
Sup: 1.6810, 1.6780, 1.6755
USDJPY
USDJPY did not even reach close to our first resistance of 103.00 or support 102.30. Also posting a weak high low/range of 30 pips. Our outlook remains bearish if it stays below pivot point 103 due to the fall on the dollar on Friday as a result of weak Jobs data from the US. Targets stand at 102.30, 102 & 101.80. However a break above 103 opens the way up for 103.40 and 103.70.
The bearish outlook is further confirmed on the H1 chart as we see the current price below 55 & 20 exponential moving averages
Res: 103.00, 103.40, 103.70
Sup: 102.30, 102.00, 101.80
Gold
As with our comments on the currency pairs Gold did not break any support or resistance level. However the daily high was at 1295 which is close to our first resistance 1297 (high of 31.7.14 & 1.8.14) but did not find enough momentum to go above it. The double bottom at 1280 ( low of 31.7.14 & 1.8.14) still supports gold and we will consider it our pivot point for today. Gold saw a significant rise last Friday due to weak economic US jobs data
Res: 1297, 1304, 1312
Sup: 1280, 1266, 1259
EURUSD
During yesterday’s session EURUSD dropped below our first support 1.3365 however it went back up later to close the day above that level at 1.3374. It dropped 60 pips during that day. Today we see a continuation of the fall achieving a new low at 1.3348. The weakening of the euro was helped by stronger than expected US USM Non-Manufacturing PMI which came better than expected at 58.7
Outlook will remain bearish it trading stays below 1.3425 with first target at 1.3340
Res: 1.3425, 1.3445, 1.3475,
Sup: 1.3340, 1.3315, 1.3295
GBPUSD
Yesterday was another bullish day for the sterling rising to achieve a high of 1.6888 near our first resistance of 1.6890. It made a revisit of that level again at midnight however after failing to break it the second time we see it now retracting so far 30 pips. Our outlook will remain bullish if it manages to stay supported at 1.6810. However the double top at 1.6890 is a bad signal fur bullish positions
Res: 1.6890, 1.6920, 1.6965
Sup: 1.6810, 1.6780, 1.6755
USDJPY
Indecisiveness is the word to describe the USDJPY over the last two trading session. The reason for this is that we see it rise and drop during the sessions only for the market to close the day near the open price again. Overall the market has been moving sideways for a while and were getting a weak up or down signal from all momentum indicators confirming the sideways outlook.
Res: 103.00, 103.40, 103.70
Sup: 102.30, 102.00, 101.80
Gold
An indecisive day for gold yesterday with a daily range between high and low of 10 dollars. That market closed near the open price at 1288. On the 1 hour chart there is no clear trend formation as we see it swinging up and down giving conflicting signals plus moving averages moving sideways. We need to see it break above the resistance to give us an upward signal or below the support to give us a downward signal. Otherwise it would be difficult to interpret its movement within those boundaries
Res: 1297, 1304, 1312
Sup: 1280, 1266, 1259
EURUSD
The Euro trades in consolidative mode after finding ground above 1.33 support. Near-term price action moves around 1.34 handle, still holding below 1.3443, 01 Aug lower top and breakpoint, clearance of which is required to trigger stronger recovery and confirm near-term base. Near-term action is supported by positive hourly studies and 4-hour indicators emerging above the midlines. Also, reversing daily indicators and RSI out of oversold zone, support the notion. Lift above 1.3443, also near 38.2% retracement of 1.3639./1.3316 descend, to open 1.3485, 24 July lower top and 50% retracement, as well as psychological 1.35 barrier. Pullback off fresh recovery high at 1.3431, which dented 1.34 support, also near 38.2% of 1.3316/1.3431 ascend, should hold above 1.3370, Fibonacci 61.8% retracement and hourly 20/55 SMA’s bullish cross, to keep near-term bulls intact for renewed attempt higher. Otherwise, risk of retest of 1.33 support zone and fresh extension of larger downtrend would remain in play.
Res: 1.3409; 1.3431; 1.3443; 1.3485
Sup: 1.3381; 1.3369; 1.3350; 1.3335
GBPUSD
Cable maintains negative tone and reached fresh low at 1.6764, after loss of psychological 1.68 support. The pair is looking for completion of the upleg from 1.67 zone higher base, to 1.7189, as the biggest part of the rally has already been retraced. Near-term consolidative actions are expected to interrupt bears, however, the upside potential so far looks limited, as near-term technicals remain negative. Only break above 1.6885 lower top would signal more significant upside action and delay attempt at 1.67 base.
Res: 1.6810; 1.6827; 1.6839; 1.6862
Sup: 1.6764; 1.6736; 1.6691; 1.6657
USDJPY
The pair remains in the downmove off 103.07, 30 July peak, which retraced 76.4% of the rally from 101.07 to 103.07, on a dip to 101.49 so far. Studies on 4-hour chart are weak and maintain the risk of return to 101 base, as the price holds below 200SMA, stabilizing around 102 handle. On the other side, overall bullish picture remains intact and sees fresh upside potential, once the price confirms footstep at 101.49, which requires clearance of 102.45 lower top and Fibonacci 61.8% of 103.07/101.19 descend, to confirm recovery action.
Res: 102.18; 102.45; 102.91; 103.07
Sup: 101.69; 101.49; 101.07; 100.81
AUDUSD
The pair maintains overall negative structure, as fresh acceleration off 0.9372 lower top of 06 Aug, posted new low at 0.9237, approaching strong 0.92 zone base. Brief upside attempts are expected to delay bears, which are aiming towards 0.92 higher base and 0.9180, Fibonacci 38.2% retracement of larger 0.8658/0.9503 bull phase, with loss of these supports expected to accelerate bears off 0.9503 peak. Near-term price action off 0.9237 low, was so far limited by 4-hour 20SMA, with more significant corrective action to be sparked on a break above 0.9372 lower top.
Res: 0.9285; 0.9320; 0.9372; 0.9415
Sup: 0.9237; 0.9200; 0.9180; 0.9165
EURUSD
The Euro is at the back foot in the near-term, as the price moves lower after recovery rally stalled at 1.3431, short of 1.3443 pivotal top. Subsequent weakness, which broke below psychological 1.34 support, also Fibonacci 61.8% of 1.3316/1.3431 upleg, sees risk of further easing and possible retest of near-term base above 1.33 handle. Negative hourly studies support the notion, however, range trading will remain in play while the price holds within current boundaries, with overextended daily technicals suggesting extended consolidation and only break above 1.3343/49 lower top / Fibonacci 38.2% of larger 1.3639./1.3316 descend, to signal stronger recovery attempt. Penetration of strong 1.33 support zone, on the other side, is expected to resume broader weakness off 1.3392, 08 May peak and extend the third wave from 1.3699 lower top of 01 July, towards its 100% Fibonacci expansion at 1.3209.
Res: 1.3375; 1.3401; 1.3431; 1.3443
Sup: 1.3331; 1.3300; 1.3250; 1.3209
GBPUSD
Cable maintains negative tone and resumes larger downtrend, which was interrupted by 1.6764/94 consolidation, with psychological 1.68 support now acting as immediate resistance and keeping the upside attempts limited. Fresh weakness is looking for retest of 1.67 zone higher base, to complete the bull-leg from 1.67 to 1.7189. Break below 1.67 support to open 1.6650, 200SMA. Prevailing negative tone supports the notion, with consolidative actions expected to interrupt bears. On the upside, 1.68 offers solid resistance and sustained break here would delay bears for possible attempt at 1.6885 lower top and breakpoint.
Res: 1.6794; 1.6827; 1.6862; 1.6885
Sup: 1.6736; 1.6691; 1.6657; 1.6600
USDJPY
The pair regained traction on hourly chart studies, as the price action stabilizes above 102 handle and approaches pivotal 102.45 lower top and Fibonacci 61.8% of 103.07/101.49 descend. Break here is required to confirm higher low formation at 101.49 and open 103 zone for test. Daily studies are positive and support the notion, with close above 200SMA, to confirm. Psychological 102 support and higher low, also near daily cloud top, should stay intact to maintain the structure.
Res: 102.45; 102.91; 103.07; 103.42
Sup: 102.22; 102.00; 101.69; 101.49
AUDUSD
The pair maintains overall negative structure, as bearish acceleration off 0.9372 lower top of 06 Aug, posted new low at 0.9237, on approach to strong 0.92 zone base. Brief upside attempts are expected to delay bears, which are aiming towards 0.92 higher base and 0.9180, Fibonacci 38.2% retracement of larger 0.8658/0.9503 bull phase, with loss of these supports expected to accelerate bears off 0.9503 peak. Consolidative action off 0.9237 low, was so far limited under 0.9288, Fibonacci 38.2% of 0.9372/0.9237 downleg, with more significant corrective action to be sparked on a break above 0.9372 lower top.
Res: 0.9266; 0.9285; 0.9320; 0.9372
Sup: 0.9237; 0.9200; 0.9180; 0.9165