EUR/JPY Surged To 104 Barrier; AUD/USD Bearish Mode Returns

EUR/USD

The euro accelerated lower post Fed and erased gains of corrective 1.2858.1.2993 rally, with lower top left at 1.2993. This confirms 1.30 zone as strong barrier, as break below previous low at 1.2858, shifts focus towards 1.2800, round-figure Support and short-term targets at 1.2786, Fibonacci 61.8% retracement of 1.2042/1.3992 and 1.2750 higher base. Near-term technicals turned bearish and Support the notion, with corrective attempts off Resistance session lows, ideally to be capped at 1.29 zone, near 50% of 1.2978/1.2832 downleg.

Resistance: 1.2888; 1.2900; 1.2920; 1.2942
Support: 1.2852; 1.2832; 1.2800; 1.2786




EUR/JPY

The pair surged to 140 barrier and near-term target, after fResistance acceleration followed completion of near-term 139.16/138.45 consolidative phase. With important 139.80 barrier, 200SMA / Fibonacci 61.8% retracement of 142.35/135.71 descend, being broken and psychological 140 hurdle cracked, further upside is seen as favored scenario. Break higher to focus 140.69, 50% retracement of 145.67/135.71 fall and round-figure 141 barrier, as immediate targets. However, hesitation at 140 barrier is not ruled out, as near-term studies are overbought. Higher low at 138.43, also Fibonacci 38.2% of the upleg from 135.80, offers solid Support, where dips should ideally find ground.

Resistance: 140.05; 140.69; 140.78; 141.00
Support: 139.61; 139.15; 139.00; 138.77




GBP/USD

Cable remains steady and returns to 1.63 zone, which was broken on yesterday’s extension to 1.6356. Subsequent corrective action found Support at 1.6245, to signal an end of corrective action and fResistance attempt higher, which would look for clearance of 1.6380, daily 20SMA and levels above 1.64 barrier, Fibonacci 61.8% of 1.6642/1.6050, to confirm recovery. Near-term studies hold positive tone and Support scenario, however, negative larger picture technicals and yesterday’s Doji candle, require caution, as failure to regain fResistance highs and weakness which would violate 1.6245 Support, would signal an end of corrective phase and shift near-term focus lower.

Resistance: 1.6356; 1.6380; 1.6416; 1.6464
Support: 1.6245; 1.6200; 1.6159; 1.6100



USD/JPY

The pair Resumes larger rally after completing near–term consolidation phase, with Resistance strength of the dollar, establishing the price above 108 level. Resistance bulls are approaching initial 109 barrier, ahead of next levels at 109.50 and psychological 110.00, en-route towards 110.66, Aug 2008 peak. Overbought near-term studies suggest corrective action ahead of Resistance rally. Higher lows at 107 zone, should ideally contain pullbacks.

Resistance: 108.85; 109.00; 109.50; 110.00
Support: 108.36; 108.00; 107.58; 107.28



AUD/USD

The pair’s hourly structure returned to bearish mode, after recovery rejection at 0.9110 and Resistance weakness, which again took out psychological 0.9000 Support. With 4-hour and daily studies maintaining negative tone and yesterday’s long red candle, focus remains firmly lower. Resistance leg lower, which commenced from 0.9110 lower top, could travel to 0.8848, its Fibonacci 61.8% expansion, initially, with extension to 0.8682, 100% expansion, to signal possible full retracement of 0.8658/0.9503 ascend.

Resistance: 0.9000; 0.9020; 0.9045; 0.9082
Support: 0.8937; 0.8900; 0.8848; 0.8800



AUD/NZD

The pair moves lower after recovery attempt off 1.1018 low, stalled under strong 1.11 barrier. As most of gains from 1.1018 low have been retraced, near-term risk is shifted lower, with bears re-establishing on hourly studies. The notion is Supported by bearish near-term studies and daily indicators losing traction. This suggests that further weakness is seen as preferred near-term scenario, with confirmation on a break below 1.1018 and more significant 1.1000, psychological Support. Break lower to open next strong Support at 1.0920, 01/07 Aug higher base, reinforced by daily 100 SMA. Alternative scenario requieres sustained break above 1.11 barrier, to neutralize bears.

Resistance: 1.1068; 1.1100; 1.1121; 1.1145
Support: 1.1018; 1.1000; 1.0976; 1.0920




XAU/USD

Spot Gold slumped to 1215, its near-term target, after corrective action, which briefly broke above 1240 barrier, was short lived and was capped under 1243, Fibonacci 38.2% barrier. Corrective bounce off 1215 low, approaches 1224, Fibonacci 38.2% retracement of 1239/1215 downleg and could extend to 1227/30, 50% / 61.8% levels, where Resistance leg lower is expected to commence. Near-term targets lay at psychological 1200 level and key short-term Support at 1182, 31.Dec 2013 low, return to which to mark full retracement of 1182/1392 rally.

Resistance: 1224; 1227; 1230; 1239
Support: 1220; 1215; 1200; 1190