EURUSD

The Euro has eventually broken above near-term congestion, driven by modestly hawkish Fed that sent the dollar lower.
Extension of yesterday’s rally that left long green candle and generated bullish signal, peaked at 1.1118, taking out pivotal 1.1080 zone resistance, where 200SMA and Fibo 61.8% of 1.1163/1.0950 lay. Fresh near-term bulls require daily close above here to maintain positive stance for final push towards key short-term resistances at 1.1163/85 (14/05 July post-Brexit recovery peaks).
Daily chart studies show fresh bullish momentum and MA’s turning into bullish setup, that supports further advance.
Corrective dips should be ideally contained by 200SMA, while extension below daily low at 1.0950 would soften near-term tone and risk attempts below lower breakpoint (daily Tenkan-sen line) at 1.1034.

Res: 1.1118; 1.1148; 1.1163; 1.1185
Sup: 1.1078; 1.1050; 1.1034; 1.1000

GBPUSD
Near-term bulls that emerged after double-Doji, show stalling signals, as quick pullback followed Wed/Thu rally that ran out of steam at 1.3245. Fresh weakness so far dipped to 1.3136 (Fibo 61.8% of 1.3070/1.3245 rally). Fresh bearish signal could be expected on firm break here.
Overall structure remains bearishly aligned and see scope for renewed attack at key near-term support at 1.3055 (higher base / Fibo 61.8% of 1.2795/1.3478 upleg), break of which is needed to confirm bearish resumption.
Meantime, the pair would continue to fluctuate within near-term range, established between 1.3055 and 1.3288.
Only sustained break above pivotal 1.3288/1.3315 barriers would bring near-term bulls fully in play.

Res: 1.3200; 1.3245; 1.3288; 1.3315
Sup: 1.3136; 1.3100; 1.3055; 1.3000

USDJPY

The pair remains at the back foot and trades in red today, after falling daily Ichimoku cloud repeatedly capped upside attempts. Yesterday’s daily candle with long upper shadow, confirmed persisting pressure, offered by descending daily cloud which keeps near-term focus at the downside.
Initial target lies at 103.98 (26 July low), loss of which to trigger fresh extension of pullback from 107.47 peak, towards 103.22 9daily Kijun-sen) and 102.84 (Fibo 61.8% of 99.97/107.47 upleg) in extension.
Session high at 105.41 marks initial resistance, ahead of more significant daily Tenkan-sen at 105.70 and upper breakpoint at 106.44 (daily cloud base).
Res: 105.41; 105.70; 106.00; 106.44
Sup: 104.46; 103.98; 103.72; 103.22

AUDUSD
The pair regained strength and is back above daily Ichimoku cloud top, reinforced by Kijun-sen line that offers good support and holds today’s action. Fresh bulls came in play after yesterday’s wide-range trading that ended in Doji candle with very long legs.
However, mixed daily studies show no clear direction for now, with lift above 0.7576 (Fibo 61.8% of 0.7673/0.7419 downleg, required to firm the structure and shift focus higher.
Conversely, loss of cloud top support would soften the tone again and risk further extension of pullback from 0.7673 peak.
RBA’s policy meeting next week is the key event for the pair, with prevailing expectations for rate cut which would further dent pair’s structure.

Res: 0.7547; 0.7576; 0.7589; 0.7613
Sup: 0.7515; 0.7484; 0.7441; 0.7419

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