EURUSD

The Euro broke below daily Tenkan-sen (1.0723) and 20SMA (1.0691) supports and extended losses on today’s fresh acceleration lower.

With 1.0700 support zone that held during past two days being taken out, the pair heads towards next pivot at 1.0641 (Fibo 38.2% of 1.0318/1.0827 ascend).

Break here is needed to confirm reversal and open way for extension towards daily Kijun-sen at 1.0583, possibly to daily cloud base at 1.0550.

Broken Tenkan-sen now acts as resistance (1.0723) which should limit corrective attempts and keep fresh near-term bears in play.

Res: 1.0692; 1.0723; 1.0754; 1.0789
Sup: 1.0641; 1.0600; 1.0583; 1.0550

USD/JPY

The pair eventually broke and closed below strong 112.00 support and cracked the top of weekly Ichimoku cloud (111.77), on extension below.

Bearish technicals on all timeframes favor further weakness, with light supports at 111.34 (28 Nov trough) and 111.00 (round-figure) seen on the way towards next target at 110.00 zone (110.19, ascending 100SMA and 109.91, daily cloud base / 50% retracement of 101.17/118.65 upleg).

Repeated close below 112.00 handle is needed to confirm break.

Former base at 112.50 offers solid resistance, guarding 112.75/113.00 barriers, which are expected to ideally cap extended corrective rallies.

Daily Tenkan-sen (currently at 113.47) marks the upper breakpoint.

Res: 112.50; 112.75; 113.00; 113.47
Sup: 111.34; 110.83; 110.19; 109.91

GBP/USD

Cable broke below thin daily cloud and met next target at 1.2345 (daily Kijun-sen) on today’s strong acceleration lower.

Rising bearish pressure sees risk of further downside action towards 1.2260 (Fibo 61.8% of 1.1986/1.2704 rally).

Meantime, the fall may pause at Kijun-sen support, as slow stochastic is breaking into oversold territory.

Corrective upticks are expected to precede of fresh weakness, as sentiment is negative.

Broken daily cloud (spanned between 1.2388 and 1.2426) marks good resistance, with extended correction to be capped by broken falling 100SMA (currently at 1.2457).

Res: 1.2388; 1.2426; 1.2457; 1.2485
Sup: 1.2345; 1.2300; 1.2260; 1.2200

AUD/USD

The Aussie dollar eased on stronger greenback today, following repeated rejection under 0.7700 barrier.

Risk of reversal is increasing as daily RSI / slow Stochastic emerge from overbought territory and generate negative signal.

Dips for now hold above initial supports at 0.7607/02 (former high / daily Tenkan-sen) but firm break lower would be a signal of correction.

Rising daily 20SMA (currently at 0.7560) should ideally contain to keep intact pivots at 0.7510 (higher base) and 0.7489 (200 SMA / Fibo 38.2% of 0.7159/0.7694 rally).

Break below the latter is needed to confirm reversal.

Res: 0.7679; 0.7694; 0.7730; 0.7776
Sup: 0.7602; 0.7560; 0.7510; 0.7489

 

 

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