EUR/USD

The Euro holding around daily cloud base (currently at 1.0557), after yesterday’s break lower that extended below psychological 1.0500 support, but failed to close below daily cloud.
Daily close below pivotal supports at 1.0557/1.0525 (cloud base/Fibo 61.8% of 1.0339/1.0827) is needed to signal bearish continuation towards next target at 1.0454 (Fibo 76.4% /11 Jan spike low) that would expose key support at 1.0339 (03 Jan low, the lowest since 2003).
Firm bearish setup of daily studies is supportive, with former strong support, now resistance at 1.0590 (55SMA) reinforced by falling 10SMA that is attempting to form bearish cross, expected to cap corrective attempts.
Break back above 1.0600 pivot would sideline immediate bears and signal stronger bounce that would risk attack at upper breakpoints at 1.0660/75 (20SMA/former double upside rejection).

Res: 1.0572; 1.0590; 1.0631; 1.0660
Sup: 1.0525; 1.0492; 1.0454; 1.0400

GBPUSD

Cable remains within near-term triangle following yesterday’s unsuccessful probe above upper pivot (10SMA / triangle resistance line at 1.2465).

Near-term studies remain neutral, while dailies are mixed and show no direction signals for now.

However, yesterday’s spike higher that was capped by next pivotal barrier at 1.2506 (descending 20SMA) could be seen as initial signal of fresh strength.

Minimum requirement for this scenario is close above 10SMA (1.2465) with renewed attempts through 20SMA to confirm fresh bullish action towards upper breakpoints at 1.2550/80.

Initial supports at 1.2420/10 zone (yesterday’s low / triangle support line) guard lower pivots at 1.2400 (100SMA) and daily cloud top at 1.2380.

Res: 1.2465; 1.2496; 1.2521; 1.2550
Sup: 1.2420; 1.2412; 1.2400; 1.2379

USDJPY

Repeated upside rejection (112.75) of recovery leg from 112.60 (17 Feb trough) and subsequent easing that reversed the largest part of strong 112.60/113.75 recovery, weakened near-term structure. Daily studies are in neutral / bearish mode and require break out of 112.60/113.75 range for stronger direction signal. Firm break below 113.00 support would confirm bearish near-term stance, with loss of 112.60 pivot to complete daily Failure Swing pattern for fresh extension of pullback from 114.94, as 15 Feb bearish candle with long upper shadow continues to weigh. Conversely, close above daily Tenkan-sen (113.75) would signal further retracement of 114.94/112.60 downleg.

Res: 113.43; 113.75; 114.05; 114.39

Sup: 113.06; 112.89; 112.60; 112.37

AUD/USD

Yesterday’s fresh attempt above 0.7700 barrier was positive signal, as price continues to hold at the upper side of 0.7600/0.7700 congestion.
Overnight’s dip on weaker than expected Australian data was so far contained, with 0.7700 pivot being attacked again on bounce.
Bullishly aligned near-term studies are supportive, along with daily MA’s in firm bullish setup.
Rising daily 10SMA offers immediate support at 0.7678, followed by 20SMA that underpins the action and currently lies at 0.7645.
Caution on break of latter, as RSI / slow stochastic bearish divergence continues to weigh.
Stronger signal of pullback seen on break below 0.7600 handle that would risk fresh easing towards 200SMA (0.7509).
Sustained break above 0.7700 barrier and fresh high at 0.7730 (16 Feb high), to signal bullish continuation and expose key short-term barrier at 0.7776 (08 Nov peak).

Res: 0.7712; 0.7730; 0.7755; 0.7776
Sup: 0.7663; 0.7645; 0.7600; 0.7504

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