EURUSD
The Euro remains under strong pressure and extends sharp fall of past two days. Fresh weakness emerged after brief consolidation earlier today. Steady weakness approaches next target at 1.1000, which lies ahead of strong support at 1.0950 (25 July trough), return to which will mark full retracement of 1.0950/1.1365 rally.
Long bearish candles of past two days weigh and generated strong bearish signals.
Hesitation at psychological 1.1000 support could be anticipated on oversold Slow Stochastic, however, no reversal signals seen for now.
Session high at 1.1066, reinforced by south-heading lower Bollinger Band, offers initial resistance, ahead of former supports at 1.1108/22, (broken Fibo 61.8% / former base), now acting as strong barriers and seen capping extended upticks.

Res: 1.1066; 1.1108; 1.1122; 1.1165
Sup: 1.1000; 1.0950; 1.0909; 1.0820

GBPUSD

The pound was again on the roller-coaster on Tuesday on sharp bearish acceleration that dipped to 1.2087 and subsequent bounce on short squeeze that peaked slightly above 1.2300 barrier. Rising fears of strong impact on Brexit pushed the pound towards low of last Friday’s flash crash, with near-term relief provided by decision of British PM to allow the Parliament to scrutiny the Brexit plan.
Cable is currently holding within 1.2216/1.2323 consolidation, following overnight’s bounce. Quick recovery eased strong downside pressure for now, however, overall sentiment is negative and raises question if recovery could be sustained.
Bearish studies maintain strong pressure and see risk of return to post-Friday’s crash low at 1.2000 zone, with further weakness expected on firm break lower.
However, the pair may spend some more time in consolidation phase, as debate about Brexit plan would provide further relief.
Session high at 1.2323 marks immediate resistance, followed by yesterday’s high at 1.2370 and 1.2401 (Fibo 38.2% of 1.3055/1.1997 fall) where extended uptick will face solid resistance. Descending daily Tenkan-sen line marks the next significant barrier and trigger at 1.2509.
Res: 1.2323; 1.2370; 1.2401; 1.2509
Sup: 1.2102; 1.2087; 1.1997; 1.1900

USDJPY
The pair returned to daily cloud top, following yesterday’s failure to sustain gains above 104.00 barrier. Long-legged daily candle of Tuesday confirms hesitation ahead of strong resistance zone at 104.30/104.43 (former high of 02 Sep / Fibo 61.8% of larger 107.47/99.52 descend).
Daily cloud continues to underpin the action and should ideally contain easing ahead of fresh push higher.
However, extended dips cannot be ruled out. Lows of Fri/Mon offer next good support at 102.80 zone, ahead of 102.58 (Fibo 38.2% of 100.05/104.15 upleg) and 102.44 (rising daily Tenkan-sen) which should contain extended dips.

Res: 103.66; 104.05; 104.30; 104.43
Sup: 103.26; 102.80; 102.58; 102.44

AUDUSD
Australian dollar bounced from fresh low at 0.7528, posted on today’s brief probe below daily cloud base at 0.7537 that contained yesterday’s strong fall. Long red daily candle that was formed yesterday and marginal close below Fibo 61.8% of 0.7440/0.7708 upleg at 0.7542 generated bearish signal.
Bounce on short squeeze hit 0.7590 high that marks Fibo 61.8% of 0.7626/0.7528 downleg and offers solid resistance, which should ideally cap rally before bears resume. Overall bearish structure supports the notion.
Renewed attack at daily cloud base and clear break lower will open way for further retracement of 0.7440/0.7708 upleg.
Only extension above daily cloud top at 0.7606, reinforced by falling daily Tenkan-sen line, will sideline downside risk and signal further recovery of pullback from 0.7708 high.
Res: 0.7590; 0.7606; 0.7626; 0.7642
Sup: 0.7555; 0.7528; 0.7503; 0.7476
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