AUD/NZD Remains Under Pressure; AUD/USD Maintains Negative Tone

EUR/USD

The euro continues to trade in a sideways mode, capped for now under 1.2977/85 barriers, with corrective pullbacks being contained above 1.29, round-figure support / Fibonacci 61.8% of 1.2858/1.2977 corrective rally. Neutral near-term studies see scope for further consolidation, while overall negative tone, renewed with yesterday’s close in red, suggests fresh leg lower after completion of near-term consolidative phase. Strong barriers at 1.2977/85, as well as psychological 1.3000 resistance, keep the upside limited for now and only break above the latter would revive near-term bears for stronger bounce, which would sideline attempts towards short-term targets at 1.2786, Fibonacci 61.8% of 1.2042/1.3992 and 1.2750 higher base.

Res: 1.2958; 1.2977; 1.2987; 1.3000
Sup: 1.2920; 1.2900; 1.2882; 1.2858




EUR/JPY

The pair trades in a corrective action after unsuccessful attempt to clear 139 barrier. Overall picture remains firmly bullish and sees scope for eventual clearance of pivotal 139.26, peak of 03 July, with completion of 139.26/135.71 bear-phase, seen as a trigger for further recovery towards psychological 140 barrier, also lower top of 09 June. Corrective action was so far held at 138.45, with further easing to be ideally contained at 138.27/00 zone.

Res: 139.16; 139.26; 139.51; 140.00
Sup: 138.45; 138.27; 138.00; 137.88




GBP/USD

Cable’s near-term price action remains in consolidative mode, with immediate tone showing signs of weakness, as the price action moves towards the consolidation floor at 1.62 zone, after yesterday’s close in red. Recovery peak at 1.6275, has so far limited the upside action, keeping psychological 1.63 barrier and previous week’s closing level and the upper limit of 08 Sep opening gap, intact. Near-term studies are neutral and unless 1.63 hurdle is taken out, which would allow for stronger recovery and confirm near-term bottom, risk will remain at the downside, as overall picture remains negative.

Res: 1.6249; 1.6275; 1.6300; 1.6338
Sup: 1.6200; 1.6184; 1.6155; 1.6123



USD/JPY

The pair remains positive overall, with near-term price action moving in consolidative mode, which was signaled by yesterday’s Doji candle. Important 107 support holds for now, despite brief probe below overnight, keeping immediate focus at the upside, for test of initial target at 107.50, ahead of 108.28, Fibonacci 161.8% projection of the upleg from 100.81. Extended dips, however, should be contained at 106.50/35 zone, to keep bulls unharmed.

Res: 107.38; 107.50; 108.00; 108.28
Sup: 106.92; 106.50; 106.35; 106.00



AUD/USD

The pair maintains negative tone, with near-term corrective action off fresh low at 0.8982, being capped at 0.9050, by descending hourly 55SMA. Fresh weakness below 0.90 handle, confirms bears are in play, for fresh extension towards the next target at 0.8889, 02 Mar higher low, with full retracement of 0.8658/0.9503 ascend, being in play. Only fresh strength above 0.9050 would sideline immediate bears for stronger corrective attempt.

Res: 0.9000; 0.9020; 0.9050; 0.9071
Sup: 0.8980; 0.8950; 0.8923; 0.8900;




AUD/NZD

The pair remains under pressure and continues to head towards the next target at psychological 1.1000 support, as yesterday’s close in red confirms extension of the downmove from 1.1293. The third wave lower, which commenced from 1.1223, 11 Sep lower top, reached its initial target at 1.1016, 100% Fibonacci expansion and could extend to 1.0937, 138.2% expansion, with full retracement of 1.0922/1.1293 upleg, expected once the price action establishes below 1.1000 support. Barriers at 1.1070/75 are expected to cap corrective attempts.

Res: 1.1048; 1.1075; 1.1100; 1.1150
Sup: 1.1016; 1.1000; 1.0937; 1.0922




XAU/USD

Spot Gold trades in corrective move off fresh low at 1225, which was so far capped by descending 20SMA at 1238. This keeps 1240 break point intact for now. Hourly studies are gaining traction, however, weak tone persists on 4-hour chart technical, which sees the downside favored, with potential fresh extension higher, to find solid barrier at 1243, Fibonacci 38.2% retracement of 1271/1225 descend / 10 Sep previous low, where rallies should be ideally limited. Overall negative picture see scope for eventual attacks at key med term support at 1.1182, for full retracement of 1182/1344 ascend.

Res: 1238; 1240; 1243; 1250
Sup: 1231; 1225; 1215; 1200