Euro Slumped Post-Fed; AUD/NZD Accelerated From 1.1140 Zone

EUR/USD

The Euro slumped post-Fed, with break and close below 1.2636, bull-trendline drawn off 1.2499 low, probing below near-term base at 1.26 zone. Yesterday’s bearish Outside Day, confirms bears are back in play, with daily close below 1.26 base, to signal possible full retracement of 1.2499/1.2884 ascend, as fresh weakness retraced so far 76.4% of the rally. Oversold near-term studies, however, require correction, which should, in extended mode, stay under previous strong support, now resistance, at 1.2690/1.2700 zone, where Fibonacci 61.8% of descend from 1.2769 lower top lies, reinforced by daily Kijun-sen line and daily 20SMA.

Res: 1.2763; 1.2780; 1.2800; 1.2839
Sup: 1.2725; 1.2700; 1.2663; 1.2633




EUR/JPY

The pair maintains positive near-term sentiment, which pushed the price to test psychological 138 barrier, below which, near-term consolidation is under way. Potential stronger pullback cannot be ruled out, as yesterday’s close in red may signal possible stall of the rally, which will be confirmed in failure to break and close above 138 barrier. However, corrective pullbacks should, for now, find good supports at 137 zone, bear 38.2% of 135.19/138.01 upleg and 136.60 higher base and 50% retracement, reinforced by daily 20SMA. Only sustained break below the latter would revive near-term bears and risk further weakness.

Res: 137.71; 138.01; 138.50; 139.02
Sup: 137.24; 136.89; 136.60; 136.26




GBP/USD


Yesterday’s long red candle confirms return of near-term bears back to play, as fresh acceleration lower left a double-top at 1.6180/82 and took out psychological 1.60 support and former higher low at 1.5992, on over 61.8% retracement of 1.5873/1.6182 upleg, seen so far. This sidelines near-term upside attempts, which were looking for retest of pivotal 1.6225 barrier and shifts focus back to key near-term support at 1.5873, low of 15 Oct. Oversold near-term conditions, suggest corrective action, which should be ideally capped under 1.61, Fibonacci 61.8% of entire descend from 1.6180, 28 Oct peak. Break above the latter is required to neutralize bears.

Res: 1.6015; 1.6046; 1.6071; 1.6100
Sup: 1.5962; 1.5939; 1.5900; 1.5873



USD/JPY

The pair accelerated higher on fresh dollar’s strength, after completion of near-term consolidative phase and probes levels above psychological 109 barrier. Yesterday’s bullish close confirms daily bulls are fully in play for eventual test of key resistances at 110 zone. Corrective actions on overbought near-term studies, are expected before final push higher, with former high at 108.34, offering the first strong support, ahead of 107.60 higher base, reinforced by daily 20SMA and daily Kijun-sen / Tenkan-sen bull cross, where extended corrective dips should be contained.

Res: 109.22; 109.50; 109.89; 110.07
Sup: 108.73; 108.34; 108.00; 107.60




AUD/USD

The pair lost traction after yesterday’s probe above short-term range top and breakpoint at 0.89, with subsequent sharp fall, bringing the price back to the middle of 0.8641/0.8909 range. Yesterday’s bearish Outside Day could signal further weakness, which would bring range’s lower boundary in focus, in case of extension and close below 0.87 handle. Otherwise, prolonged range trading, would be likely near-term scenario.

Res: 0.8800; 0.8831; 0.8858; 0.8900
Sup: 0.8753; 0.8717; 0.8700; 0.8673




AUD/NZD

The pair accelerated from 1.1140 zone, where higher base was left, to eventually retest key short-term barrier at 1.1293, peak of 05 Sep and short-term congestion top Overall bullish picture favors final push and close above 1.1293 barrier, to complete short-term 1.1293/1.0914 consolidative phase, with fresh extension higher to focus 1.1390 and 1.1460, Fibonacci 138.2% and 161.8% projections of the rally from 1.0979. However, yesterday’s long green candle with longer upper wick, may signal hesitation ahead of final break higher. Higher platform at 1.1220, offers initial support, with extended corrective pullback, expected to find ground at 1.1140 higher base and 50% of 1.0983/1.1293 upleg.

Res: 1.1269; 1.1293; 1.1320; 1.1350
Sup: 1.1220; 1.1200; 1.1174; 1.1140




XAU/USD

Spot Gold accelerated pullback from 1255 high, with the second leg lower, commencing after completion of near-term consolidation, which was capped at 1235. Fresh bears, which so far retraced over 61.8% of 1182/1255 ascend, approach psychological 1200 support. Bears came back to play on daily chart, which could result in full retracement of 1182/125 ascend, as yesterday’s acceleration below 1218, daily Kijun-sen line, neutralized hopes of fresh attempts higher. Corrective action on oversold near-term studies could be expected ahead of attack at 1200 support, with previous supports at 1218/21, now offering good resistances and former consolidation range tops at 1235, expected to cap extended corrective rallies.

Res: 1210; 1215; 1218; 1221
Sup: 1200; 1193; 1187; 1182