EURUSD

The Euro is finally below 1.0500 and ticks ahead of critical 1.0461 (2015 low / the lowest since 2003) support, on fresh post-Fed weakness.

Firm break below 1.0461 trigger would widely open way for further weakness. Next supports lay at 1.0395 (Aug 1999 low) with extension through 1.0104 (July 1999 low) and 1.0068 (Fibo 76.4% of multi-year 0.8225/1.6037 ascend), to look for attack at parity level.

Firmly bearish tech support scenario, however, hesitation at 1.0461 could be anticipated.

Limited bounces were seen so far, with 1.0520/40 zone offering solid resistance and capping for now.

Stronger upticks, however, should not exceed 1.0600 barrier.

Res: 1.0520; 1.0544; 1.0568; 1.0600
Sup: 1.0461; 1.0395; 1.0345; 1.0300

GBPUSD

Cable hit strong support at 1.2508 (Fibo 38.2% of 1.2081/1.2772 upleg, reinforced by 30SMA) on fresh bearish acceleration, triggered by hawkish Fed and following repeated rejection at daily cloud top (1.2720). Near –term focus is turning lower, as bullish daily technicals are losing traction. Also, completion of Failure Swing pattern on daily chart signals further weakness. Sustained break below 1.2500 handle would open support at 1.2445 (55SMA), ahead of 1.2383 (28 Nov trough) and 1.2345 (Fibo 61.8%). Corrective upticks were so far capped at 1.2570 zone, with stronger bounce on oversold n/t studies, expected to hold below next solid barrier at 1.2640 ( daily Tenkan-sen/Fibo 61.8% of 1.2720/1.2511 fall).

Res: 1.2570; 1.2591; 1.2640; 1.2671

Sup: 1.2508; 1.2445; 1.2383; 1.2345

USDJPY

The dollar surged above 117.00 barrier on strong bullish acceleration after Fed. Extended wave C of five-wave cycle from 100.05 (27 Sep low) could travel to 119.07, its 300% Fibonacci expansion, and 119.50 (Fibo 76.4% retracement of larger 125.84/98.98 descend), with psychological 120.00 barrier expected to come in sight.

Overextended daily studies do not show any bearish signal so far, however, corrective dips should be expected. Initial support lies at 117.00; followed by 116.10, with downside breakpoint at 115.35 (rising daily Tenkan-sen line).

Res: 118.00; 119.07; 119.50; 120.00
Sup: 117.00; 116.10; 115.35; 114.60

AUDUSD

The Aussie extended yesterday’s sharp fall and cracked important support at 0.7390 (Fibo 61.8% of 0.7308/0.7523 upleg). Long red candle that was left yesterday weighs heavily on n/t structure, as daily studies turned into full bearish setup and signal further weakness.
However, the price action shows hesitation at 0.7390 zone, with upside attempts being so far capped under initial barrier at 0.7435 (Fibo 38.2% of 0.7523/0.7381 fall).
Extended upticks should not exceed next strong barriers at 0.7445/52 (broken bull-trendline / daily Tenkan-sen), before fresh push lower.
Clear break below 0.7390 would open 0.7368 (01 Dec trough) then 0.7329 (weekly cloud base) and signal full retracement of 0.7308/0.7523 rally.

Res: 0.7505; 0.7521; 0.7529; 0.7556
Sup: 0.7381; 0.7368; 0.7329; 0.7308

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