Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 97
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EURUSD
The Euro eventually broke below three-day consolidative range floor, ending near-term narrow congestion phase that resulted in three consecutive Dojis. Immediate focus shifts towards key short-term support at 1.1096, 26 Jan low, with completion of 1.1096/1.1532 consolidative phase, expected to commence fresh leg lower and open psychological 1.1000 support. Near-term bears are gaining pace, with overall negative picture, keeping the downside firmly in focus. Widening daily 20d Bollingers confirm fresh action, with former base at 1.1260, reinforced by daily 10SMA, offering good resistance and expected to ideally cap corrective rallies rallies.
Res: 1.1176; 1.1216; 1.1243; 1.1266
Sup: 1.1112; 1.1096; 1.1050; 1.1000
GBPUSD
Cable remains under pressure and continues to move lower, following break below daily 20SMA. Immediate focus turns towards pivotal support zone at 1.5320, higher base and Fibonacci 38.2% of 1.4950/1.5551 rally. Near-term technicals are negative, with daily indicators heading south and attempting at midlines, scope is seen for eventual break below 1.5320 handle to confirm reversal. Sideways-moving daily Kijun-sen line at 1.5269, is expected to come in focus on a break below 1.5320, with extended weakness, expected to target psychological 1.52 support, also daily Ichimoku cloud base. Descending daily cloud top and hourly lower platform at 1.5390 zone, offers immediate resistance, ahead of daily Tenkan-sen line at 1.5440, where corrective rallies should be ideally capped.
Res: 1.5400; 1.5420; 1.5440; 1.5457
Sup: 1.5320; 1.5300; 1.5269; 1.5200
USDJPY
The pair bounced after pullback from 120.25 high found footstep at 119.40 support zone, reinforced by ascending daily 10SMA. Near-term tone improves, with regain of 119.90 lower top, required to confirm higher low formation and turn near-term focus towards 120.25/46 targets. However, contracting 20d Bollinger bands suggest extended consolidation, before fresh action. Overall picture remains bullish and keeps the upside favored for now. Only sustained break below 119.40/30 support zone, former lower platform and daily 10SMA / Tenkan-sen, could weaken the structure and signal further easing.
Res: 119.90; 120.25; 120.46; 120.80
Sup: 119.48; 119.36; 119.10; 118.66
AUDUSD
The pair consolidates under fresh recovery high at 0.7842, following yesterday’s rally that ended in Bullish engulfing and closed above daily 20SMA and 0.78 handle. The rally boosted near-term technicals, which are attempting above their midlines, with sustained break higher, required to confirm reversal and re-focus pivotal 0.7911, 26 Feb high and short-term consolidation range top. Fresh strength also cracked sideways-moving daily Tenkan-sen and Kijun-sen lines at 0.7824, with close above here to give another positive signal. However, narrowed daily 20d Bollinger Bands see risk of prolonged range trading, before establishing fresh direction.
Res: 0.7842; 0.7874; 0.7911; 0.7950
Sup: 0.7800; 0.7750; 0.7738; 0.7700
EURUSD
The Euro holds firm bearish tone and heads towards psychological 1.10 support, ahead of today’s ECB meeting. Yesterday’s close in long red candle and eventual completion of 1.1096/1.1532 corrective phase, opens way for further extension of large bear-leg from 1.3992, 2014 high. Bearish setup of technicals on all timeframes, supports the notion. Hesitation on approach to 1.10 target could be anticipated as near-term studies are oversold. Corrective rallies to face initial resistance at session high at 1.1083, ahead of 1.1155, 02/03 Mar consolidation floor and key resistance zone at 1.1243/60, lower platform / mid-Feb congestion bottom and only break here would sideline bears.
Res: 1.1083; 1.1155; 1.1200; 1.1243
Sup: 1.1025; 1.1000; 1.0929; 1.0900
GBPUSD
Cable remains in strong downtrend, which accelerated yesterday and closed below daily Kijun-sen line at 1.5269, to end day in long red candle. Today’s resumption of descend focuses strong supports at 1.5184/80, daily Ichimoku cloud base / Fibonacci 61.8% retracement of 1.4950/1.5551 ascend. Close below here is required to turn daily technicals into bearish mode and signal an end of corrective phase from 1.4950. Widening 20d Bollinger Bands support the notion, with reversing daily 20SMA, offering good resistance at 1.5355. Overextended near-term studies suggest corrective action in the near-term
Res: 1.5269; 1.5315; 1.5345; 1.5400
Sup: 1.5200; 1.5180; 1.5137; 1.5091
USDJPY
The pair trades in near-term consolidative mode after finding support at 119.40. Positively aligned near-term studies keep the upside favored, however, initial barriers at 119.90/120.00, remain intact for now. Clear break here is needed to open targets at 120.25/46 and 120.80 lower platform in extension. Setup of daily indicators is also positive, with 119.40 support, reinforced by ascending daily 10SMA, marking the first breakpoint, loss of which to open further easing towards pivotal 118.66 and 118.25, daily higher bases.
Res: 119.90; 120.25; 120.46; 120.80
Sup: 119.61; 119.40; 119.27; 119.00
AUDUSD
The pair remains entrenched within consolidative range, after fresh upside attempts were short-lived and left marginally higher high at 0.7858 and yesterday’s trade ended in Doji candle. Consolidation is supported by neutral near-term studies and contracted daily 20d Bollingers. Break of initial upside barrier at 0.7858 is required to open key short-term resistance and larger range top at 0.7911. Conversely, weakness below initial 0.78 support, would accelerate towards pivotal higher base at 0.7740 zone and shift focus towards range’s lower boundaries.
Res: 0.7842; 0.7858; 0.7874; 0.7911
Sup: 0.7800; 0.7750; 0.7738; 0.7700
EURUSD
The Euro enters near-term corrective phase above Asian fresh low at 1.0821. Acceleration higher on oversold hourly / 4-hour studies, attacks 1.09 barrier, ahead of more significant barriers at 1.0961/1.1000, former low of 26 Jan / Fibonacci 61.8% retracement of 1.1112/1.0821 descend, where extended rallies should be ideally capped. Daily / weekly close in long red candle maintains strong bearish tone, as daily Bearish momentum is building up. Near-term corrective action is expected to precede fresh push towards next targets at 1.0800 / 1.0762, psychological support / Sep 2003 low. Only close above 1.10 barrier would sideline downside risk and signal stronger corrective action.
Res: 1.0900; 0.0961; 1.1000; 1.1031
Sup: 1.0860; 1.0821; 1.0800; 1.0762
GBPUSD
Cable approached psychological 1.5000 support, on last Friday’s acceleration lower that hit fresh low at 1.5030 and left long red candles on daily and weekly chart, signaling firm bearish tone and scope for full retracement of 1.4950/1.5551 rally. Corrective rally on oversold near-term studies cracked initial barrier at 1.5100, round-figure resistance, ahead of 1.5184/94, daily Ichimoku cloud base / former higher base, where rallies should be ideally capped, before final push towards key med-term support at 1.4950, 23 Jan low. Only close above 1.5229/54 Fibonacci 38.2% of 1.5551/1.5030 downleg / last Friday’s high, would ease immediate downside pressure and allow for stronger correction.
Res: 1.5100; 1.5153; 1.5184; 1.5200
Sup: 1.5063; 1.5030; 1.5000; 1.4950
USDJPY
The pair maintains strong bullish tone, following last Friday’s acceleration higher that broke above 120.80/121 barriers and closed at 120.70, after leaving hourly higher base at 120.60. Near-term price action trades in consolidative phase, keeping initial supports at 120.60/46, intact for now. Bullish setup of technicals, keeps the upside favored and suggests final push towards key med-term barrier at 121.83, peak of 08 Dec 2014. Initial supports at 120.60/46, session lows / 11Feb former high, should ideally contain and protect pivotal 120 support zone, near Fibonacci 61.8% of 119.36/121.27 upleg, reinforced by daily Kijun-sen line, Close below which is expected to revive bears..
Res: 121.10; 121.27; 121.67; 121.83
Sup: 120.60; 120.46; 120.10; 119.90
AUDUSD
The pair maintains overall negative tone, after Friday’s acceleration lower left long red candles on daily and weekly charts. Today’s fresh weakness and probe below 0.77 handle, suggests further easing and possible full retracement of 0.7624/0.7911 corrective rally. Asian trading was entrenched in tight Doji, showing limited upside attempts and keeping pivotal barrier at 0.7740, former base, intact for now. Stronger rallies above here and 0.78 barrier, also 50% retracement, would ease immediate downside pressure and signal prolonged range-trading.
Res: 0.7740; 0.7770; 0.7800; 0.7858
Sup: 0.7700; 0.7682; 0.7642; 0.7624
EURUSD
The Euro came under pressure and accelerated lower, after yesterday’s consolidation was capped by descending 4-hour 10EMA at 1.09 zone. Bears took full control, with fresh extension below 1.08 handle, taking out target at 1.0762, Sep 2003 low. Extended weakness is looking for 1.0660, Fibonacci 200% projection of the downleg from 1.1532, 03 Feb lower top and 1.0069, Fibonacci 76.4% retracement of larger 0.8225/1.6039 ascend, expected to come in focus. Bears continue to drive the price lower, despite oversold conditions of all timeframes, with widening daily 20d Bollingers, supporting the notion. Immediate resistances lay at 1.0800/21, ahead of yesterday’s consolidation top at 1.0905, which is expected to cap corrective attempts. Only close above here would delay bears and signal stronger correction.
Res: 1.0800; 1.0821; 1.0860; 1.0905
Sup: 1.0733; 1.0700; 1.0660; 1.0600
GBPUSD
Cable completed near-term corrective phase off fresh low at 1.5030, that was capped at 1.5135, on fresh weakness that cracked 1.5030 support. The pair is looking for test of key supports at 1.5000, psychological support and 1.4950, 2015 low, with bearish tone, prevailing on all timeframes, supporting the notion. Bearish setup of daily SMA’s and Ichimoku studies, favors further weakness, along with near-term indicators holding in the negative territory. Psychological 1.51 barrier, offers initial resistance, for prolonged hesitation ahead of 1.5000/1.4950 supports, ahead of correction high at 1.5135. Only break here would signal further correction and open strong 1.5177/84 zone, Fibonacci 61.8% of 1.5268/1.5030 downleg daily Ichimoku cloud base, where extended rallies should be capped to keep bears intact.
Res: 1.5100; 1.5135; 1.5177; 1.5184
Sup: 1.5027; 1.5000; 1.4950; 1.4900
USDJPY
The pair maintains strong bullish tone, marked by yesterday’s rally from 120.60 higher base and close above 121 barrier. Today’s fresh strength eventually took out key short-term barrier at 121.83, 08 Dec 2014 high and probed above psychological 122 resistance. Daily close above 121.83 is required to confirm an end of three-month corrective phase and spark resumption of larger uptrend from 2011 low at 75.55, towards next target at 124.14, June 2007 high. Yesterday’s high at 121.40 offers initial support, ahead of 121.10 trough, with stronger corrective dips to be ideally contained above 120.60 higher base and near 50% of 119.36/122.01 upleg.
Res: 122.00; 122.50; 123.00; 123.50
Sup: 121.40; 121.10; 120.60; 120.37
AUDUSD
The pair remains under pressure and accelerated lower today, after yesterday’s consolidative trading ended in a Doji shape. Fresh weakness broke key short-term support at 0.7624, 03 Feb post-RBA spike low, confirming an end of short-term corrective phase and signal resumption of larger downtrend from 2011 peak at 1.1079, towards next target at 0.7204, Fibonacci 76.4% retracement of multi-year 0.6007/1.1079 ascend. Setup of daily technicals remains firmly bearish, while oversold near-term studies suggest consolidative action. Session high at 0.7705, offers initial resistance, ahead of 0.7738, yesterday’s corrective top and 50% of 0.7843/0.7630 downleg and only close above here would delay immediate bears.
Res: 0.7682; 0.7705; 0.7738; 0.7762
Sup: 0.7600; 0.7550; 0.7515; 0.7500
EURUSD
The Euro maintains strong bearish tone, with repeated close in long red candle and today’s probe below psychological 1.05 support. Near-term focus remains at the downside targets at 1.0335, Jan 2003 low and 1.0206, July 2002 high, ahead of 1.0069, Fibonacci 76.4% retracement of larger 0.8225/1.6039 rally, with test of parity level becoming more realistic. Corrective rally on oversold near-term studies is seen preceding fresh attempts lower, as setup of daily /weekly studies remains firmly bearish. Acceleration through 1.06 barrier looks for 1.0665, hourly lower base / near Fibonacci 38.2% of 1.0905/1.0493 downleg and 1.07 zone, also 50% retracement, where rallies should be initially capped. However, oversold daily studies require caution, with close above 1.07, to signal stronger corrective action.
Res: 1.0650; 1.0665; 1.0715; 1.0747
Sup: 1.0578; 1.0554; 1.0493; 1.0450
GBPUSD
Cable remains under strong pressure after yesterday’s bearish acceleration took out key supports at 1.5000 and 1.4950, also probing below psychological 1.49 handle. Yesterday’s long red candle confirms bearish stance for eventual attack at key med-term supports at 1.4830/12, higher base of 2013. Corrective rally off fresh low at 1.4891, cracked psychological 1.50 barrier, ahead of strong 1.5030 resistance, former base and near Fibonacci 61.8% retracement of 1.5135/1.4891 downleg, where corrective rallies should be ideally capped. Otherwise, further rallies would signal prolonged corrective action. Key barrier and near-term breakpoint lies at 1.5135, lower top of 09 Mar and near Fibonacci 38.2% of 1.5551/1.4891 descend.
Res: 1.5011; 1.5030; 1.5050; 1.5100
Sup: 1.4953; 1.4891; 1.4850; 1.4830
USDJPY
The pair remains in near-term consolidative phase under fresh high at 122.01, with corrective dips being so far contained at 120.80 zone. Former peak at 121.83, marks strong barrier and caps attempts higher. Near-term indicators are pointing lower and support further consolidation. On the other side, bulls remain intact on daily chart studies that keep focus at the upside. Correction lows at 120.80, mark initial support, ahead of 120.60 higher base and Fibonacci 38.2% of 118.29/122.01 rally, where downside attempts should be ideally contained, to avert risk of deeper pullback, expected to accelerate on close below 120.60 support.
Res: 121.65; 121.83; 122.00; 122.50
Sup: 121.00; 120.84; 120.60; 120.37
AUDUSD
Overall tone remains bearish, as yesterday’s break below 0.76 handle posted fresh low at 0.7558. Immediate bears are now on hold, as corrective bounce from 0.7558 low cracked pivotal 0.7681 lower top, also near 38.2% of 0.7843/0.7558 downleg. Extended correction through 0.7700, daily Tenkan-sen line, is expected to find strong barrier at 0.7740 zone, former base and Fibonacci 61.8% retracement, where rallies should be ideally capped, ahead of fresh attempt lower. Recent break below key 0.7624 support, shifted short-term focus towards next target at 0.7204, Fibonacci 76.4% retracement of multi-year 0.6007/1.1079 ascend.
Res: 0.7682; 0.7700; 0.7740; 0.7787
Sup: 0.7645; 0.7622; 0.7600; 0.7571
EURUSD
The Euro entered near-term consolidative phase between 1.0550 higher base, session lows reinforced by hourly cloud top and 1.0618, near-term consolidation top and recovery rally peak, keeping intact pivotal 1.0635 hourly lower platform and Fibonacci 38.2% of 1.0905/1.0461 downleg, for now. Near-term studies remain weak and see limited upside attempts for now, while larger timeframes technicals maintain firm bearish tone and keep the downside in focus, despite oversold daily studies. Weakness below initial 1.0550 support, to open, 1.0520, hourly trough and Fibonacci 61.8% retracement of 1.0461/1.0618 upleg. Break here and through psychological 1.05 handle to re-focus key near-term support at 1.0461, fresh 12-year low of 13 Mar and signal bearish resumption. Conversely, lift above 1.0618/35, is required to signal fresh recovery attempts and shift near-term focus towards pivotal 1.0682, 12 Mar correction high and 1.0728, descending daily 10SMA, close above which to signal near-term base and open way for stronger correction.
Res: 1.0618; 1.0635; 1.0682; 1.0700
Sup: 1.0550; 1.0520; 1.0500; 1.0461
GBPUSD
Cable slides below 1.48 handle, signaling an end of near-term 1.4810/51 consolidative phase. Extension lower and probe below hourly cloud base, weakens near-term structure and puts attempts at immediate barrier at 1.4851, correction high and 1.4861, hourly cloud top, on hold for now. Fresh acceleration lower marked over 50% retracement of 1.4697/1.4851 rally and increase risk of break below pivotal 1.4768/56, hourly trough / Fibonacci 61.8% retracement, loss of which would turn near-term focus lower, as overall tone remains bearish. On the other side, renewed attempts higher would keep in play hopes of stronger recovery, with break above initial 1.4851 barrier, yesterday’s high and recovery top, expected to open next strong barrier at 1.4900, hourly lower platform / Fibonacci 61.8% of 1.5025/1.4697, reinforced by 4-hour Kijun-sen line and resume corrective phase on a break higher. However, extended corrective rallies should be capped under strong 1.5025 barrier, Fibonacci 38.2% of 1.5551/1.4697/ 12 Mar high / 06 Mar low.
Res: 1.4851; 1.4861; 1.4900; 1.4950
Sup: 1.4768; 1.4746; 1.4697; 1.4650
USDJPY
The pair remains in extended sideways mode, with near-term studies holding neutral tone and repeated Doji confirming indecision. Consolidation range tops at 121.65 and former high at 121.83, mark initial barriers. Overall tone, however, remains bullish and keeps the upside in focus, with consolidative phase being for now contained at strong 120.60 support, Fibonacci 38.2% of 118.29/122.01 upleg. Initial support lies at 121.12, 4-hour cloud top and the action being underpinned by ascending daily 10SMA at 121 and daily Tenkan-sen line at 120.80.
Break below 120.60 handle to signal stronger pullback and open former highs at 120.46/25, ahead of psychological 120 support, also Fibonacci 38.2% of 116.86/122.01 rally, loss of which to confirm reversal. Otherwise, close above initial barriers at 121.83/122.01, to signal resumption of larger uptrend towards 124.14, June 2007 high.
Res: 121.65; 121.83; 122.00; 122.50
Sup: 121.12; 121.00; 120.80; 120.60
AUDUSD
The pair entered neutral near-term mode, after building hourly base at 0.7609, with consolidation range being so far capped at 0.7678, yesterday’s high and descending daily 10SMA. Overall picture remains bearish and sees scope for fresh attempts at 0.7558 low, to resume larger downtrend on a break, as bearish setup of daily SMA’s and widening 20d Bollingers, support the notion. Alternatively, attempts above initial barrier at 0.7678, would open way for fresh attack at pivotal 0.7730, 12 Mar correction high and the mid-point of 0.7911/0.7558 downleg, above which to materialize daily RSI/MACD bullish divergence and open way for further correction.
Res: 0.7678; 0.7730; 0.7766; 0.7800
Sup: 0.7625; 0.7609; 0.7558; 0.7500
EURUSD
Near-term price action trades in a sideways mode, entrenched within 100-pips range, after yesterday’s short-lived break above initial 1.0630 barrier, stalled at 1.0650. Consolidative action is for now supported at 1.0550 higher base, also 50% of 1.0461/1.0650 corrective rally, with break here to offset positive signals, given on past two-day positive closing. Near-term technicals maintain neutral tone, while overall picture remains bearish, with initial signals of reversal on oversold daily studies, being generated. Rally and close above pivotal 1.0682, 12 Mar high and 50% retracement of 1.0905/1.0461 descend, reinforced by descending daily 10SMA, is required to confirm near-term bottom and spark fresh recovery towards next barriers at 1.0735, Fibonacci 61.8% retracement and 1.0746, daily Tenkan-sen line.
Res: 1.0618; 1.0650; 1.0682; 1.0735
Sup: 11.0578; .0550; 1.0520; 1.0500
GBPUSD
Near-term price action is at the back foot, following yesterday’s recovery action repeated rejection that left hourly double-top at 1.4850 and subsequent easing that nearly fully retraced 1.4697/1.4870 corrective rally. Near-term studies are weak, with strong bearish tone on daily / weekly technicals, seeing increased risk of return and eventual break through 1.4697 handle, to resume larger downtrend towards next targets at 1.4371/44, Fibonacci 76.4% of 1.3501/1.7189 rally / low of June 2010. Alternatively, bounce through 1.4850 lower platform is required to ease bear-pressure, with close above next strong barrier at 1.4900, Fibonacci 61.8% of 1.5025/1.4697 downleg, to confirm recovery resumption.
Res: 1.4770; 1.4800; 1.4850; 1.4900
Sup: 1.4722; 1.4697; 1.4650; 1.4600
USDJPY
The pair continues to trade in a sideways mode, with near-term studies holding neutral tone and the third consecutive Doji confirming indecision. Consolidation range tops at 121.65 and former high at 121.83, mark initial barriers. Overall tone, however, remains bullish and keeps the upside in focus, with consolidative phase being for now contained at strong 120.60 support, Fibonacci 38.2% of 118.29/122.01 upleg. Initial support lies at 121.10, 4-hour cloud top and ascending daily 10SMA, ahead of daily Tenkan-sen line at 120.95. Break below consolidation floor at 120.60 would signal stronger pullback and open former highs at 120.46/25, ahead of psychological 120 support, also Fibonacci 38.2% of 116.86/122.01 rally, loss of which to confirm reversal. Otherwise, close above initial barriers at 121.83/122.01, to signal resumption of larger uptrend towards 124.14, June 2007 high.
Res: 121.39; 121.65; 121.83; 122.00
Sup: 121.10; 120.95; 120.60; 120.46
AUDUSD
The pair is gaining negative near-term tone on a probe below near-term consolidative range floor at 0.7609 and psychological 0.76 support. Yesterday’s close in red signals fresh weakness that requires close below 0.76 handle, for return to key near-term support at 0.7558, low of 11 Mar. Bearish daily studies favor fresh weakness, with clear break below 0.7558, to confirm resumption of larger downtrend. Near-term consolidation range tops are reinforced by falling daily 10SMA and only close above here would sideline increasing downside risk and signal renewed attempts towards pivotal 0.7730 lower top of 12 Mar, also Fibonacci 61.8% of 0.7843/0.7558 downleg.
Res: 0.7627; 0.7663; 0.7678; 0.7730
Sup: 0.7571; 0.7558; 0.7537; 0.7500
EURUSD
The Euro accelerates reversal off fresh high at 1.1034, reached on yesterday’s rally on dovish Fed that briefly probed above 1.10 barrier. Bullish tone that has been established on near-term studies, is losing traction, after the price dipped below 1.0680, Fibonacci 61.8% retracement of 1.0461/1.1034 rally / broken daily 10SMA, keeping the uncertainty of near-term direction. Daily close below 10SMA is required to confirm negative stance and risk retest of hourly higher bases at 1.0580/1.0550, loss of which to re-open key 1.0461 support, as daily studies hold negative tone. Conversely, close above daily 20SMA, currently at 1.0946, to revive near-tem bulls and re-focus targets at 1.1034, yesterday’s high, 1.1071, Fibonacci 61.8% retracement of 1.1449/1.0461 descend and 1.1096, former low of 26 Jan.
Res: 1.0700; 1.0755; 1.0795; 1.0832
Sup: 1.0629; 1.0600; 1.0580; 1.0550
GBPUSD
Cable spiked to 1.5160 on post-Fed’s rally, where gains were capped by daily Ichimoku cloud base and daily 20SMA and subsequent quick pullback erased part of earlier gains on a daily close below psychological 1.50 level. Asian session and beginning of European trading saw further easing that returns below broken daily 10SMA and also broke below strong support at 1.4850, former double-top, also denting psychological 1.48 support . Close below 1.4850 to signal lower top formation and shift near-term focus lower, as daily technicals remain bearish. Alternative scenario requires fresh strength and close above daily 20SMA, currently at 1.5150, to confirm reversal.
Res: 1.4906; 1.4935; 1.5008; 1.5050
Sup: 1.4793; 1.4770; 1.4722; 1.4697
USDJPY
The pair dipped below 120 support on yesterday’s post-Fed dollar’s bearish acceleration, ending near-term consolidative phase and sidelining immediate attempts at fresh high at 122.01. Yesterday’s close in long red candle, after triple Doji, signals weakening of near-term tone, however, quick recovery above 120.60, former pivotal support and Fibonacci 61.8% of 121.39/119.28 fall, keeps in play hopes of renewed attempts higher. Near-term studies are still negative, with indicators in strong ascend and daily bulls remain intact that supports the notion. Daily 20SMA , currently at 120.15, now acts as support, with close above daily 10SMA at 121.06, also former consolidation floor, required to confirm higher low at 119.28 and re-focus the upper targets.
Res: 120.80; 121.06; 121.39; 121.65
Sup: 120.43; 120.15; 119.66; 119.28
AUDUSD
The pair returned to the negative near-term mode on acceleration of the pullback from yesterday’s spike high at 0.7845. Quick reversal to 0.7740, where yesterday’s close occurred and today’s fresh acceleration below 0.7687, Fibonacci 61.8% of 0.7589/0.7845 rally, softens near-term tone and increases risk of full retracement of yesterday’s rally that would put fresh low of 11 Mar at 0.7558, under strong pressure. Bearish acceleration cracked broken daily 10SMA, with close below here to confirm negative scenario, as daily studies remain bearish. Conversely, return above daily 20SMA, currently at 0.7740, would keep alive hopes of fresh recovery attempts.
Res: 0.7700; 0.7740; 0.7806; 0.7845
Sup: 0.7650; 0.7600; 0.7558; 0.7537
EURUSD
The Euro eases to 1.09 zone, after yesterday’s attack at 1.10 barrier that posted fresh high, ticks away from key 1.1034, 18 Mar peak. Consolidative action is so far contained by daily 20SMA that keeps bullish setup of 4-hour studies in play for renewed attempts higher and final break above pivotal 1.1034 barrier. On the other side, hourly studies turned neutral and see risk of potential break below consolidation floor at 1.0888 and daily 20SMA, currently at 1.0855, to signal stronger correction towards 1.0820/00, 50% of 1.0612/1.1028 upleg / round-figure support. Key near-term support lies at 1.0766, low of 23 Mar, reinforced by daily Tenkan-sen, with clear break here to neutralize near-term bulls.
Res: 1.0970; 1.1028; 1.1034; 1.1071
Sup: 1.0900; 1.0888; 1.0820; 1.0800
GBPUSD
Cable attacks the lower boundary of near-term consolidation range at 1.4830 zone, following yesterday’s pullback from range tops at 1.4987. Daily close in long red candle weakens near-term structure and signals possible fresh weakness on clear break lower. Hourly studies are negative, while 4-hour indicators are approaching their midlines and setup of moving averages turning bearish, encouraging further easing, along with overall bearish tone. Close below daily 10SMA, currently at 1.4847, to confirm negative near-term stance for 1.4800, Fibonacci 61.8% of 1.4686/1.4987 rally, then 20Mar higher low at 1.4720 that would open key near-term supports at 1.4686 and 1.4633, lows of 19/18 Mar. Alternatively, fresh rallies are required to keep near-term range-trading in play, with close above 1.4900, daily Tenkan-sen line, to neutralize immediate downside risk.
Res: 1.4900; 1.4950; 1.4987; 1.5008
Sup: 1.4847; 1.4830; 1.4800; 1.4757
USDJPY
The pair returns to near-term 119.55/119.90 consolidative range, following yesterday’s bumpy ride that cracked former low at 119.28 and ended day in long-legged Doji, confirming near-term indecision and prolonged consolidative phase. The notion is supported by neutral hourly studies and contracting daily 20d Bollingers. However, bearish 4-hour technicals and south-heading daily indicators, keep the downside at risk, with fresh attempts through 119.20/08, yesterday’s low / daily 55SMA, to confirm bearish resumption and expose 118.65 higher base and 100SMA. Conversely, bounce above 120 barrier, requires close above daily 20SMA at 120.425, to neutralize.
Res: 119.97; 120.24; 120.42; 120.60
Sup: 119.54; 119.20; 119.08; 118.65
AUDUSD
The pair eventually broke above key 0.7911 barrier, high of 26 Feb, fully retracing 0.7911/0.7558 bear-leg and signaling fresh recovery action. However, failure to close above 0.7911 barrier, ended yesterday’s trading in a long-legged Doji, signaling hesitation at pivotal resistance. Yesterday’s easing found footstep at 0.7835, with daily cloud base at 0.7858, offering initial support for now. Hourly studies are neutral, while reversing 4-hour indicators see risk of stronger correction of 0.7611/0.7936 rally, before fresh attempts higher. Extension below 0.7835 should be ideally contained above 0.7761, higher low of 23 Mar, to keep the structure intact. Otherwise further easing and close below 0.7739, daily 20SMA, would neutralize near-term bulls.
Res: 0.7889; 0.7911; 0.7936; 0.8000
Sup: 0.7835; 0.7812; 0.7761; 0.7739
EURUSD
The Euro trades in near-term consolidative phase above last Friday’s pullback low at 1.0800, with the upside capped at 1.0950, Friday’s high and previous base. Daily / weekly close in Doji signals hesitation under recovery highs at 1.1034/50, 18/26 Mar peaks. Range boundaries are reinforced by daily Tenkan-sen line (lower) and daily Kijun-sen line (upper). Also, daily 20SMA, currently at 1.0810, protects the downside, with formation of daily 10/20 SMA’s bullish cross, underpinning the action and marking 1.08 zone as pivotal support. Daily indicators remain in ascending mode and support fresh attempts higher, with break above pivotal 1.0950 barrier, required to confirm and re-focus breakpoints at 1.1034/50, for resumption of recovery phase from 1.0461. Lower breakpoint lies at 1.0800, loss of which, to accelerate pullback from 1.1050 peak and weaken currently neutral near-term studies. This will also confirm hourly failure swing formation for extension towards 1.0756, 50% of 1.0612/1.1050, possibly to 1.0686, Fibonacci 61.8% retracement.
Res: 1.0880; 1.0950; 1.1000; 1.1034
Sup: 1.0820; 1.0800; 1.0756; 1.0700
GBPUSD
Cable remains in near-term congestion after repeated upside rejections mark psychological 1.50 level as strong resistance, with range floor at 1.48 zone, being under pressure, after Friday’s action lower, cracked the support. However, near-term studies remain in neutral mode, while daily chart shows bears in play, with near-term price action being capped by descending 20SMA, currently at 1.4951 and daily / weekly close in red, confirming negative stance. Initial resistance lies at 1.4900, session high / daily Tenkan-sen line, ahead of 1.4951, daily 20SMA, break and close above which is required to improve near-term tone and shift focus towards congestion top and breakpoint at 1.50 zone. Otherwise, close below 1.48 support zone to confirm an end of near-term consolidative phase and open way for further easing, as Friday’s dips marked over 61.8% retracement of 1.4633/1.5160 corrective rally.
Res: 1.4900; 1.4920; 1.4952; 1.4997
Sup: 1.4800; 1.4757; 1.4721; 1.4686
USDJPY
The pair attempts above narrow-range consolidation phase, signaling resumption of corrective bounce off 118.31, last week’s low, where the price found footstep. Hourly studies are gaining traction, while negative tone persists on 4-hour studies, signaling extended correction, before bears take control again. Daily technicals are weak and along with Friday’s negative close and the second weekly close in red, confirming overall negative stance. Extension through 119.85, daily 10SMA / Tenkan-sen, to sideline downside pressure, while close above daily 20SMA, currently at 120.34, is required to shift focus higher, for stronger corrective rally. Daily Ichimoku cloud top, along with cracked Fibonacci 61.8% retracement of 116.86/122.01 rally, offers initial support at 118.80, ahead of last week’s low at 118.31, loss of which will be bearish.
Res: 119.85; 120.09; 120.34; 120.60
Sup: 119.47; 119.10; 118.92; 118.80
AUDUSD
The pair remains under pressure and extends weakness, following Friday’s close in long red candle and today’s break below daily 20SMA at 0.7733. Bearish near-term studies support the notion, as the price extends below psychological 0.77 support, also Fibonacci 61.8% retracement of 0.7558/0.7936 corrective rally, close below which, to open way towards 0.7610/0.7589 higher lows and focus key support at 0.7558, low of 11 Mar. Session high at 0.7745 offers initial resistance, ahead of breakpoint at 0.78 zone, former low of 26Mar and hourly lower platform of 27 Mar. Only close above here to sideline immediate downside risk and open way for stronger corrective action.
Res: 0.7732; 0.7745; 0.7776; 0.7800
Sup: 0.7660; 0.7648; 0.7610; 0.7589