EURUSD
The Euro failed again at the downside, after Friday’s extended weakness below strong supports at 1.1167 (daily cloud base / 200SMA) and 1.1122 base, stalled at 1.1103. Subsequent quick recovery returned back into daily cloud, base of which (reinforced by 200SMA) now offers initial support and so far contains downside attempts.
Long-tailed Friday’s daily bullish candle generated bullish signal and offset strong bearish signal from last Thursday’s long red daily candle.
Near-term studies are mixed, with extended directionless trading seen while the price stays within daily cloud (spanned between 1.1167 and 1.1220).
However, overall structure remains weak and holds bearish sentiment that keeps downside vulnerable. Extension below daily cloud would trigger fresh weakness, with close below 1.1108 (Fibo 61.8% of 1.0950/1.1365 rally) needed to confirm bearish continuation.
Conversely, firm break above 1.1214/20 (daily Kijun-sen / cloud top), will generate initial bullish signal for extension towards 1.1249/80 barriers which guard key resistances at 1.1325 and 1.1365.

Res: 1.1201; 1.1220; 1.1249; 1.1280
Sup: 1.1167; 1.1122; 1.1103; 1.1045

GBPUSD

Cable is in a quiet mode on Monday after turbulent Friday’s trading, when the pair fell 6% and hit lows below 1.2000 handle. Near-term price action is holding within narrow range of 1.2365/1.2440, with technical studies holding firm bearish tone on all timeframes. The pair may spend more time in consolidation, which could extend to 1.2526 (daily Tenkan-sen) and 1.2580 (broken bear-channel support), where upticks should be ideally capped, before fresh attempts lower.
Only extended bounce above 1.2720 (daily Kijun-sen line) and violation of former critical support, now strong resistance at 1.2795, would sideline downside threats and open way for stronger recovery.
Res: 1.2440; 1.2475; 1.2526; 1.2580
Sup: 1.2365; 1.2292; 1.2180; 1.2110

USDJPY

Near-term structure softened after strong rally of past two weeks stalled on approach to key barriers at 104.30/43. Last Friday’s strong pullback returned into daily cloud and left long red daily candle, the first bearish candle after eight bullish days in a row.
This generated bearish signal and the downside would remain vulnerable of further dips while the price holds in the cloud.
Initial support lies at 102.79, where today’s action found footstep, ahead of more significant 102.58 level (Fibo 38.2% of 100.05/104.15 rally). Firm break here is needed to trigger further correction and expose breakpoints at 102.10/04 (daily Tenkan-sen / Kijun-sen bull cross / daily cloud base). Extended dips should be contained here to keep overall bulls in play, otherwise, sustained break below daily cloud will confirm lower top at 104.15 and signal further weakness.

Res: 103.31; 103.64; 103.97; 104.15
Sup: 102.79; 102.58; 102.10; 101.61

 
AUDUSD
The pair is trading around 0.7600 handle, with near-term recovery attempts capped by daily cloud top so far. Near-term structure is bearish after last week ended in long red candle, with scope seen for further correction of 0.7440/0.7708 rally.
Last Friday’s trading ended in long-legged Doji and signaled indecision, as the pair closed in the cloud after trading within 70-pips wide range after attempts on both sides failed.
Downside risk is expected to persist while the price holds in the cloud. However, daily studies are still bullishly aligned and keep in play possible stronger attempts higher. Sustained break above daily cloud top (0.7606) and daily Tenkan-sen line (0.7630) is needed to confirm bullish scenario.
Otherwise, fresh attempts below session low at 0.7578 would open Friday’s spike low at 0.7551 and risk extension towards key near-term support at 0.7530 (daily cloud base).
Res: 0.7607; 0.7630 0.7665; 0.7688
Sup: 0.7578; 0.7551; 0.7530; 0.7503

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