Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 100
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EURUSD
The Euro closed yesterday below former low of 30 July at 1.0891, leaving a long red candle that confirms further extension of the downleg from double upside rejection at 1.1121/28. Firm bearish tone on all timeframes, suggests final push towards short-term base and breakpoint at 1.08 zone, former lows of 27 Mat at 1.0818 and 20 July low at 1.0807. Break here to open way towards key med-term support levels at 1.0519/1.0461, lows of 12 Apr/15 Mar, the bottom of larger downtrend from 1.3992, May 2014 peak. Today’s fresh weakness confirms bearish stance. However, near-term studies are approaching oversold zone that may result in hesitation on approach to strong 108 zone supports. Initial resistance lies at 1.09 area, ahead of 1.0931, former hourly minor base, with extended rallies, expected to hold below pivotal barrier at 1.0986, yesterday’s high and near Fibonacci 61.8% retracement of 1.1121/1.0844 downleg.
Res: 1.0900; 1.0931; 1.0986; 1.1011
Sup: 1.0844; 1.0818; 1.0807; 1.0698
GBPUSD
Cable is losing traction in the near-term, as repeated upside rejections, where daily cloud top capped upside attempts and fresh weakness below of daily 20SMA, give initial negative signals. Repeated daily close in red, confirms the notion and moves the price into lower part of near-term 1.5464/1.5670 range. However, daily technicals hold neutral setup, together with contracting 20d Bollinger bands, suggesting prolonged sideways phase, with break of either boundary, required to establish fresh direction. Corrective rallies off fresh session low at 1.5524, should be ideally capped under yesterday’s high at 1.5632.
Res: 1.5570; 1.5600; 1.5632; 1.5670
Sup: 1.5524; 1.5488; 1.5464; 1.5449
USDJPY
The pair resumes the uptrend after brief consolidation at 124 zone and approaches pivotal resistance zone that lies between 124.36 and 124.72 highs at tops of short-term congestion. Overall bullish tone supports eventual break higher and resumption of larger uptrend from 120.69 low, with daily Tenkan-sen line containing dips at 123.77 and rising daily 20SMA underpinning the action at 123.70, guarding pivotal daily Ichimoku cloud top at 123.40. Near-term technicals are gaining bullish tone and favor further upside, however, extended consolidation ahead of final break higher, cannot be ruled out, as the pair approaches breakpoint zone and 4-hour studies are losing initial bullish momentum.
Res: 124.56; 124.72; 125.00; 125.50
Sup: 123.70; 123.40; 123.00; 122.48
AUDUSD
The pair corrects yesterday’s strong rally that peaked at 0.7426 and closed above daily 20SMA, leaving long bullish daily candle. Near-term technicals are gaining positive tone, but limited upside action is seen, while pivotal 0.7485/95 zone, daily Kijun-sen line / former lower platform stays intact. Pullback from fresh high at 0.7426, should be contained above 0.7324, Fibonacci 61.8% of 0.7261/0.7426 rally, to keep fresh near-term bulls in play. Overall picture, however, remains bearish and sees resumption of larger downtrend, after completion of current consolidation.
Res: 0.7400; 0.7426; 0.7447; 0.7495
Sup: 0.7324; 0.7306; 0.7258; 0.7233
EURUSD
The Euro ended Friday’s trading positively and closed above daily 20SMA, following choppy trading after release of solid US jobs data. Friday’s upside attempts were capped by daily Tenkan-sen line and 50% retracement of 1.1112/1.0844 downleg at 1.0978, just ahead of pivotal resistance zone that lies between 1.0985 and 1.1010, former tops / Fibonacci 61.8% retracement / daily Kijun-sen line. Positively aligned near-term studies suggest further upside, with sustained break above 1.1010 barrier, needed to confirm. On the other side, daily structure remains negative overall, with repeated weekly long-legged Doji candle, seeing prolonged consolidation as likely scenario. On the larger picture, initial range lies between 1.0844 and 1.1125, with break of either side, required to establish short-term direction. Daily 20SMA offers initial support at 1.0945 and contains for now, with close below here, to soften near-term tone.
Res: 1.0978; 1.1010; 1.1065; 1.1100
Sup: 1.0945; 1.0905; 1.0872; 1.0854
GBPUSD
Cable maintains negative near-term tone, after Friday’s repeated close in red and fresh weakness that touched strong support at 1.5420, daily Ichimoku cloud base. Subsequent bounce and overnight’s narrow-range consolidation are likely to delay fresh bears, as rising daily cloud base, continues to support. However, daily indicators are breaking below their midlines, with setup of daily MA’s turning into bearish mode and weekly Bearish Engulfing candle, keeping the downside pressured. Daily cloud base marks the first breakpoint, ahead of 200SMA that lies at 1.5381 and break lower to confirm lower platform at 1.5670 zone. Overnight’s price action was shaped in tight Doji, holding below psychological 1.55 level that marks initial resistance, ahead of Friday’s high at 1.5542 and daily Tenkan-sen at 1.5555, break of which to ease immediate downside pressure.
Res: 1.5495; 1.5542; 1.5555; 1.5579
Sup: 1.5477; 1.5443; 1.5420; 1.5363
USDJPY
The pair extended pullback off 125 tops that proved to be strong near-term resistance, with Friday’s repeated close in red, confirming scenario. Dips found temporary support at 124.09, Friday’s / overnight’s lows / just above rising daily 20SMA that underpins the action, where hourly base is forming. Bounce so far tested Fibonacci 38.2% of pullback from 125.03 peak, with positively aligned 4-hour studies and bullish daily technicals, being supportive for further upside that is needed to signal an end of corrective phase. Extension above 124.55/68, former low of 06 Aug / Fibonacci 61.8%, is needed to confirm and re-focus 125 barrier. Otherwise, upside failure, would keep the downside at risk and look for retest of strong 124 support zone, loss of which to signal extended corrective phase off 125 tops.
Res: 124.55; 124.68; 125.00; 125.55
Sup: 124.26; 124.09; 123.50; 123.00
AUDUSD
Near-term price action consolidates under 0.74 barrier that was cracked on Friday’s rally to 0.7416. Bullish daily close that occurred above daily 20 SMA, maintains positive near-term tone and gives initial signals of stronger correction. North-heading daily indicators and break above daily 20SMA, support the notion, however, sustained break above 0.74 barrier, is seen as initial step, with extension above next pivot at 0.7495, former lower platform, required to confirm scenario. Otherwise, expect prolonged consolidation, while recent tops at 0.7426, 04 Aug and 0.7416, 07 Aug, remain intact. Alternative scenario sees risk of 4-hour double top formation, on fresh acceleration lower and violation of pivotal 0.7332/13 supports, lows of 07/06 Aug.
Res: 0.7416; 0.7426; 0.7447; 0.7495
Sup: 0.7384; 0.7332; 0.7313; 0.7258
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
EURUSD
The Euro continues to trend higher, with yesterday’s fifth consecutive daily bullish close, confirming near-term uptrend from 1.0844, 05 Aug low. Yesterday’s rallies were capped at by daily 55SMA at 1.1086, which was cracked on today’s fresh acceleration higher. Immediate focus comes at 1.11, round-figure barrier, break of which to open pivotal 1.1128, high of 27 July and lower top of descend from 1.1434, also near 50% of 1.1434/1.0844 descend. Today’s price action was contained by daily 100SMA at 1.1032 that marks initial support, ahead of psychological 1.10 handle, also near Fibonacci 38.2% of entire upleg from 1.0844, where corrective actions should be ideally contained. Upside-reversing daily 10 and 20SMA’s, continue to underpin bulls, currently at 1.0966/56. Near-term studies remain firmly bullish, with daily indicators attempting to break above the midlines and daily MA’s turning into bullish setup, supporting further upside and final rally above 1.1128 breakpoint.
Res: 1.1100; 1.1128; 1.1195; 1.1215
Sup: 1.1032; 1.1000; 1.0956; 1.0939
GBPUSD
Cable is back to neutral mode and holds near the mid-point of short-term range, after yesterday’s attempts above daily cloud top failed at 1.5614 and subsequent easing, marked daily close in red. Repeated rejection at daily cloud top, gives negative signal, however, near-term price action is recovering ground, following overnight’s dip to 1.5531, session low. Neutral tone prevails on all timeframes and requires trigger for fresh direction. Break of either boundary of narrowing daily cloud, to signal further action. Bullish alignment of daily MA’s, with formation of 100/200SMA’s golden cross, favors upside attempts for now. Lift above 1.5614 to expose upper 20d Bollinger band at 1.5647, ahead of key 1.5670 zone barrier. On the downside, session low at 1.5531, marks initial support, guarding pivotal cloud base at 1.5507.
Res: 1.5614; 1.5647; 1.5670; 1.5688
Sup: 1.5549; 1.5531; 1.5507; 1.5465
USDJPY
The pair pulls back from today’s fresh high at 125.26, following yesterday’s break and close above 125 barrier. Profit-taking inspired pullback, probes below initial support at124.81, Fibonacci 38.2% of 124.09/125.26 upleg, signaling stronger correction. Next significant support lies at 124.50 zone, Fibonacci 61.8% retracement / daily 10SMA, where extended dips should ideally find footstep, to keep intact breakpoints of rising daily 20SMA support, currently at 124.16 and higher low of 07/10 Aug at 124.09. Overall picture remains bullish and is expected to resume towards target at 125.84, on completion of corrective phase. Only sustained break below daily 20SMA would sideline near-term bulls.
Res: 125.00; 125.26; 125.55; 125.84
Sup: 124.50; 124.16; 124.09; 123.50
AUDUSD
Aussie resumes the downmove off 0.7435, yesterday’s fresh recovery peak and slides below 0.73 handle, on another disappointing release of Chinese data, to post fresh 6-year-low at 0.7212, just ahead of 0.7204, Fibonacci 76.4% target. Yesterday’s close in long bearish candle signaled fresh bears, with end of 0.7333/0.7435 recovery phase, suggesting resumption of larger downtrend. Bears are back in play on lower timeframes, together with overall bearish tone, shifting focus towards psychological 0.7000 level. Corrective rallies face initial resistance at 0.7335, daily 20SMA, ahead of 0.7354, lower top of descend from 0.7435 and Fibonacci 61.8% retracement, where rallies should be ideally capped.
Res: 0.7323; 0.7335; 0.7354; 0.7400
Sup: 0.7255; 0.7232; 0.7212; 0.7150
EURUSD
Bullish day for the euro yesterday rising 115 pips during the session. It opened at daily low 1.1015 and closed near the high 1.1130. This rise reversed 60% of the losses we saw over the previous few days. In today’s early trading we saw it continue going up to a high 1.1150. On the H1 Chart we have the double bottom reversal pattern at 1.1015 and prices above 55 moving average, confirming the reversal of the previous downtrend
Res: 1.1140, 1.1190, 1.1245
Sup: 1.1015, 1.0980, 1.0945
GBPUSD
Sideways action for the sterling, there was two failed attempts to break the important 1.57 barrier yesterday, low was at 1.5630. Early trading today went for a third attempt for 1.57 resistance and looks to have failed again. Regarding UK figures today we have Retail sales m/m with the expectation of 0.4% higher than the previous reading of -0.2%
Res: 1.5700, 1.5730, 1.5770
Sup: 1.5600, 1.5550, 1.5530
USDJPY
After trading sideways for the past 5 days, USDJPY tried to break this pattern with an attempt of breaking 123.80 support, it made a low of 123.66 but looks like it failed since it spent less than an hour below the support. Since then it went back up 40 pips and is currently trading near the daily high of 124. 123.80 was also the low it reached on the 12th of August
Res: 124.70, 125.25, 125.65
Sup: 123.80, 123.50, 123.00
AUDUSD
Again nothing to mention here, to understand what’s happening we have to have a look at the daily chart, which shows an overall downtrend that ended at a low of 0.7230 on the 31st of July. Since then it’s been sideways trading with another attempt at that support on the 12th of August. All the daily candles after that have had very tight ranges with no break of support or resistance levels
Res: 0.7390, 0.7410, 0.7450
Sup: 0.7280, 0.7235, 0.7210
EURUSD
The Euro extends recovery rally off daily Ichimoku cloud top, which marks initial support and yesterday’s low. Today’s fresh acceleration higher, tested daily 20SMA at 1.1225, so far. Bullish near-term structure sees scope for further upside, on extension above 20SMA, to expose next strong barrier at 1.1265, 200SMA. Sustained break here would sideline current scenario that favors selling rallies, for stronger correction towards 1.1331, lower top of 01 Sep and breakpoint. Otherwise, look for lower top formation, ideally under 200SMA, for fresh leg lower, to re-focus near-term targets at 1.1086, hourly base and 1.1020/15, daily Ichimoku cloud base / higher lows of 18/19 Aug.
Res: 1.1230; 1.1265; 1.1278; 1.1300
Sup: 1.1150; 1.1120; 1.1086; 1.1015
GBPUSD
Cable accelerates higher, extending the third wave of recovery from 1.5165, hourly base. The wave C, which commenced from 1.5267, so far cracked its 100% Fibonacci expansion level at 1.5383 and could extend to 1.5428, 138.2% Fibonacci expansion. Also, break above 200SMA at 1.5356, supports scenario of extended correction, with near-term technicals, turning into bullish mode. The notion is supported by daily slow Stochastic that reversed from oversold zone and gives bullish signal. However, to confirm reversal and open way for further retracement of steep downmove from 1.5816 to 1.5163, break above 1.5490, 50% of the fall and daily 20SMA, is required.
Res: 1.5386; 1.5412; 1.5427; 1.5454
Sup: 1.5325; 1.5300; 1.5265; 1.5245
USDJPY
The pair is forming higher low at 118.57, 04 Sep low, following bounce that commenced yesterday and accelerated higher today. Fresh rally approaches psychological 120 barrier, reinforced by daily 10SMA, the first breakpoint, above which to open more significant 200SMA, which capped previous recovery attempt at 120.70. However, overall bearish structure sees limited upside action, ahead of fresh attempts lower, with rallies to be ideally capped under 200SMA. Only sustained break here, would sideline existing downside risk for stronger recovery action towards next breakpoint at 121.64, lower top of 31 Aug.
Res: 120.10; 120.77; 121.46; 121.64
Sup: 119.55; 119.15; 118.84; 118.57
AUDUSD
The pair extends above near-term consolidation range, formed above fresh 6 ½ low at 0.6906, signaling stronger action higher, after yesterday’s trading ended in tight Doji. Initial signal of recovery was given by hourly studies turning bullish, along with oversold daily technicals and RSI / slow Stochastic, reversing higher. Generating reversal signal, would spark stronger correction and sideline immediate downside risk, as overall picture remains firmly bearish. Look for extension above initial 0.7000 barrier, to open daily 10SMA at 0.7043, for confirmation of corrective phase. However, upside attempts should stay capped under falling daily 20SMA, currently at 0.7176 and only break here to open way for stronger correction.
Res: 0.7000; 0.7043; 0.7100; 0.7176
Sup: 0.6946; 0.6917; 0.6906; 0.6870
EURUSD
Near-term action returns into daily Ichimoku cloud, base of which acted as strong resistance in past few days. Fresh attempts above bear-trendline, connecting 1.1712 and 1.1458 tops and daily Kijun-sen line at 1.1272, give positive signal and turn focus towards the upper boundary of near-term congestion at 1.131, also 61.8% of 1.1458/1.1103 and daily cloud top at 1.1356. The latter marks pivotal barrier and sustained break here is required to end near-term range phase and signal bullish resumption.
On the other side, daily 20SMA, offers support at 1.1244 and repeated close below here, would signal false breaks higher and confirm extended range-trading.
Pivotal support lies at 1.1147, 200SMA / bull-trendline off 1.1103 low.
Res: 1.1308; 1.1317; 1.1356; 1.1400
Sup: 1.1260; 1.1244; 1.1232; 1.1210
GBPUSD
Cable is attempting through strong barrier at 1.5315, Fibonacci 38.2% of 1.5656/1.5105 fall, reinforced by daily 20, 30 and 200SMA. Yesterday’s close that occurred above broken bull-trendline, connecting 4.4563 and 1.5163 lows, at 1.5300, gives positive signal for firm break above pivotal 1.5315 barrier. Daily close above here to confirm break and open immediate barrier at 1.5380, daily Kijun-sen line and 50% retracement. Further acceleration would expose 1.5446, Fibonacci 61.8% of 1.5656/1.5105. Session low and consolidation floor at 1.5295, offers initial support, ahead of 1.5260, Fibonacci 38.2% of 1.5135/1.5337 rally and pivotal 1.5240 support, tops of former 1.5105/1.5240 consolidation.
Res: 1.5337; 1.5381; 1.5446; 1.5500
Sup: 1.5295; 1.5260; 1.5240; 1.5213
USDJPY
Near-term focus shifts towards triangle’s lower boundary, after unsuccessful attempts to sustain attempts above triangle resistance, which were capped by daily cloud base, pivotal resistance. Technicals of lower timeframes are losing traction and could trigger further weakness, as daily studies remain bearish. Daily close below 119.60, triangle support line, is required to confirm scenario and expose 119 zone, floor of near-term congestion.
Res: 120.13; 120.55; 120.70; 120.86
Sup: 119.60; 119.47; 119.05; 118.67
AUDUSD
The pair corrects strong rally of past few days that peaked at 0.7233 yesterday, capped by the upper 20d Bollinger band and Fibonacci 61.8% of 0.7435/0.6906. The pullback is seen preceding final attack at 0.7278 peak and key resistance and should be ideally contained at 0.7145 Fibonacci 38.2% of 0.7000/0.7233 upleg. Otherwise, deeper correction could be expected towards pivotal 0.7090 support, daily 20SMA / Fibonacci 61.8% retracement. Only break here would neutralize near-term bulls.
Res: 0.7214; 0.7233; 0.7278; 0.7310
Sup: 0.7163; 0.7145; 0.7109; 0.7090
EURUSD
Near-term structure remains bullish, as renewed strength attempts again at 1.14 barrier, after pullback from yesterday’s peak at 1.1395, found footstep at 1.1342, broken bull-channel resistance. Completion of consolidation phase, confirmed by yesterday’s Doji, to open fresh acceleration towards next targets at 1.1458/65, peaks of 18 Sep / 15 May and 1.1473, Fibonacci 61.8% of 1.1725/1.1086 descend. Daily close above the latter, would trigger fresh acceleration higher.
Yesterday’s low at 1.1342, offers good support, ahead of 1.1309, Fibonacci 38.2% of 1.1170/1.1395 rally, loss of which would revive near-term bears.
Res: 1.1396; 1.1458; 1.1473; 1.1500
Sup: 1.1375; 1.1360; 1.1342; 1.1307
GBPUSD
Cable is regaining traction and probes above three-day congestion top at 1.5380, after consolidative phase was contained at very strong 1.53 support zone, reinforced by daily 20SMA, with 200SMA, laying ticks above. Sustained break above 1.5380, which also marks the mid-point of 1.5656/1.5105 descend, is needed to resume recovery rally from 1.5105, interrupted by 1.5300/1.5380 consolidation. Next targets lay at 1.5427, daily 55SMA, ahead of 1.5446, Fibonacci 61.8% retracement.
Prolonged consolidation should hold above 1.53 handle, otherwise, sustained break here would signal lower platform formation and possible end of recovery phase.
Res: 1.5386; 1.5427; 1.5446; 1.5500
Sup: 1.5318; 1.5300; 1.5260; 1.5240
USDJPY
Near-term price action attacks the lower boundary of the triangle, after yesterday’s action was limited by daily 20SMA, keeping intact triangle’s top at 120.27 and more significant thin 127.37/70 daily Ichimoku cloud. Alignment of daily technicals is negative and will favor fresh downside attempts, while daily cloud caps. Sustained break below triangle support, currently at 120.68, will put pressure on short-term congestion floor at 119 zone and signal fresh direction, on violation of the latter.
Conversely, upside resumption requires break above daily cloud and 200SMA, currently at 120.87.
Res: 120.08; 120.27; 120.37; 120.70
Sup: 119.68; 119.23; 119.05; 118.67
AUDUSD
Aussie enters near-term corrective phase, after strong and uninterrupted rally from 0.6935 double-bottom, peaked at 0.7380, being limited by falling daily 100SMA. Corrective easing that returned into daily cloud and cracked psychological 0.7300 handle, so far holds above initial support at 0.7278, former peaks / Fibonacci 23.6% of 0.6935/0.7380 rally. Extended dips, which are signaled by overbought daily slow Stochastic, turning lower, should be ideally contained above 0.7210, Fibonacci 38.2% of 0.6935/0.7380, to keep overall bulls intact.
Res: 0.7362; 0.7380; 0.7409; 0.7435
Sup: 0.7291; 0.7273; 0.7210; 0.7180
EURUSD
The Euro bounced after posting fresh low at 1.0615 yesterday, on profit-taking action that peaked at 1.0717. Falling daily 10SMA, reinforced by falling daily Tenkan-sen, which maintains downmove for the past month, capped so far the rally at 1.0717.
This barrier should ideally keep the upside protected, however, extension higher cannot be ruled out, as hourly studies turned positive.
Overall picture remains firmly bearish and favors fresh action lower, on completion of current consolidation.
Next significant barriers lay at 1.0760, hourly double top and 4-hour Ichimoku cloud base and 1.0800/28, Fibonacci 38.2% of 1.1094/1.0615 / 12 Nov low and mark the upside breakpoint
Res: 1.0717; 1.0760; 1.0800; 1.0828
Sup: 1.0666; 1.0629; 1.0615; 1.0600
GBPUSD
Cable probes above four-day 1.5262/1.5153 congestion, following two-day rally from 1.5153, 17 Nov range low, where higher low is forming, after false break below strong weekly Ichimoku cloud support at 1.5191.
Cracking descending daily 20SMA / Kijun-sen line at 1.5267, could be seen as initial bullish signal, though, gains so far stay below psychological 1.5300 barrier.
The notion is supported by near-term studies, which gained bullish tone.
On the other side, daily technicals remain bearishly aligned, with the pair facing strong resistance zone above 1.53 barrier, which consist of sideways-moving daily 30SMA and 200SMA at 1.5306 and 1.5339, respectively.
Sustained break here is needed to confirm bearish resumption and neutralize existing risk of recovery stall.
Res: 1.5291; 1.5306; 1.5340; 1.5370
Sup:1.5248; 1.5226; 1.5206; 1.5185
USDJPY
The pair pulls back in corrective action, after marginally higher high was posted at 123.74. Probe below initial support and former consolidation floor at 123.17, Fibonacci 38.2% of 122.20/123.74, generated initial signal of deeper pullback, which so far hit support at 123.08, rising daily 10SMA.
Strong support lies at 123 zone, defined by 10SMA and 4-hour Ichimoku cloud top and should ideally contain dips, to prevent deeper pullback.
However, near-term studies are weakening and cannot rule out further correction.
Extended corrective action, also signaled by daily RSI / slow Stochastic, reversing from overbought territory, should not exceed key near-term support at 122.20, 16 Nov higher low.
Res: 123.36; 123.74; 124.14; 124.50
Sup: 123.08; 122.90; 122.79; 122.56
AUDUSD
The pair rallies above near-term 0.7156/0.7067 consolidation, after strong barriers of falling daily 20SMA and trendline resistance at 0.7125, were taken out.
Today’s fresh strength, follows yesterday’s indecision, shaped in Doji with long tail, commences the third wave of recovery from 0.7014, low of 10 Nov. Daily close above 0.7156, former range top and Fibonacci 38.2% of 0.7380/0.7014 downleg, is seen as minimum requirement to confirm bullish resumption. The notion is supported by probe above the top of thin daily cloud top, which twists higher.
Next important barriers lay at 0.7210/22, Fibonacci 100% expansion / 04 Nov lower top.
Daily indicators are heading north and gaining bullish momentum for fresh upside extension.
Broken daily 20SMA / bear-trendline, now offer strong support, guarding 0.7067 higher low and downside breakpoint.
Res: 0.7177; 0.7197; 0.7210; 0.7222
Sup: 0.7151; 0.7125; 0.7067; 0.7048