EURUSD

The pair closed in red for the fourth straight day and came close to key near-term support at 1.0550 (daily cloud base). Yesterday’s comments from Fed’s Chief Yellen about interest rate hike, further boosted strong dollar’s near-term sentiment and kept the pair under increased pressure.
The notion is confirmed by the second daily close below 55SMA (1.0601), strong bearish setup of daily MA’s, as well as bearish candles with long upper shadows of past two days that weigh on near-term action.
Final attack at 1.0550 target is seen as likely scenario, with break lower to look for another pivotal support at 1.0525 (Fibo 61.8% of 1.0339/1.0827 rally).
Strongly oversold slow stochastic is still heading south and showing room for further downside.
Broken 55SMA marks solid resistance at 1.0601, along with daily Kijun-sen at 1.0640, where upticks should be ideally capped.

Res: 1.0584; 1.0601; 1.0640; 1.0662
Sup: 1.0550; 1.0525; 1.0509; 1.0454

GBP/USD

Cable is at the back foot and consolidating just above yesterday’s lows at 1.2440, where daily cloud top limited strong acceleration lower.

Support is reinforced by 55/100SMA bull-cross; Fibo 38.2% of 1.1986/1.2704 and 30SMA that lay 1.2430/15 zone.

Near-term studies are weak and see risk of further weakness, with daily indicators heading south and maintaining downside risk.

Sustained break below 1.2440/15 support zone would trigger stronger bearish acceleration and expose 1.2345 (07 Feb spike low), with possible extension towards 1.2260 (Fibo 61.8%) on break.

Broken bull-trendline off 1.1986 is now offering initial resistance at 1.2472 (reinforced by falling Tenkan-sen) that so far caps.

Extension above here would be seen as correction ahead of fresh weakness, as long as past two days tops at 1.2538/46 stay intact.

UK jobs data, due today, are eyed for fresh signals.

Res: 1.2472; 1.2500; 1.2546; 1.2580
Sup: 1.2440; 1.2421; 1.2415; 1.2345

USD/JPY

The pair extends strong rally of past four days and probes above 114.47 barrier (Fibo 76.4% of 115.36/111.57 downleg).

Break above daily Kijun-sen (114.21) is a bullish signal for extension towards next targets at 115.00/08 (55SMA / 50% retracement of entire 118.59/111.57 pullback).

Bullish near-term and improving daily studies are supportive for further upside.

Broken Kijun sen line now acts as initial support, followed by broken 30SMA at 113.95, where corrective dips should be contained.

Deeper pullback below 113.42 (20 SMA / 4-hr cloud top) would generate stronger bearish signal and increase downside risk.

Res: 114.58; 115.00; 115.36; 115.91
Sup: 114.21; 113.95; 113.42; 113.00

AUD/USD

The pair remains within 0.7600/0.7700 range for the second week, with range’s upper boundary being pressured.
Fresh attempts higher are under way, following yesterday’s repeated rejection at 0.7700 zone and subsequent sharp pullback.
Aussie regained strength after yesterday’s limited US dollar’s rally that was contained just above range floor at 0.7600 and managed to close above rising Tenkan-sen (currently at 0.7649) that continues to underpin.
Technical studies remain firmly bullish and favor renewed attacks at 0.7700 pivot, break of which would signal bullish continuation towards key short-term barriers at 0.7755/75 zone (Aug/Nov 2016 consolidation tops).
Alternative scenario requires firm break below 0.7600 support zone (reinforced by rising 20 SMA) to generate stronger bearish signal.

Res: 0.7694; 0.7732; 0.7755; 0.7775
Sup: 0.7646; 0.7616; 0.7600; 0.7568

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