EURUSD
Long bearish daily / weekly candles and Friday’s close below psychological 1.1000 support weigh at near-term price action that extended near key 1.0950 support on sharp fall on Friday that surged through thin weekly Ichimoku cloud. Consolidation above 1.0950 is under way, with upticks being so far capped under broken 1.1000 handle (also marking Fibo 38.2% of Friday’s fall) and now acting as solid resistance. Consolidation is expected to ideally hold below 1.1000, however, extended upticks to 1.1020 (Fibo 61.8%) cannot be ruled out.
Attempts below 1.0950 will open immediate support at 1.0337 (Fibo 61.8% of larger 1.0519/1.1614, Nov 2015 / May 2016 ascend) and 1.0909 (24 June spike low) in extension.
Upper breakpoint lies at 1.1060 zone, where upside attempts in past three days were capped.

Res: 1.1000; 1.1020; 1.1060; 1.1100
Sup: 1.0962; 1.0950; 1.0937; 1.0909

GBPUSD

Repeated bearish weekly close maintains pound’s negative sentiment, as Friday’s close in red after two-day recovery, shifted near-term focus lower again. Monday’s price action so far stays below 1.2200 barrier after posting low at 1.2146, just ticks above 1.2142 (Fibo 76.4% of 1.2087/1.2323 recovery leg). Bears continue to dominate on all timeframes, with break below n/t congestion bottom at 1.2087, needed to trigger bearish continuation towards key n/t support at 1.2000 zone.
Initial resistance lies at 1.2200 and is reinforced by falling daily 5SMA, while more significant barriers lay at 1.2260/70 zone (upside rejections of past two days) and only sustained break here would sideline immediate downside risk.
Res: 1.2200; 1.2259; 1.2270; 1.2323
Sup: 1.2142; 1.2131; 1.2087; 1.1997

USDJPY
The pair is holding under last week highs at 104.47/62, but remains above 104.00 handle on Monday, following the third consecutive bullish weekly close and Friday’s close in green. Despite upside attempts being limited for now, daily Ichimoku cloud continues to underpin.
Daily studies remain bullish and favor bullish resumption through 104.62 high, towards psychological 105.00 barrier and 105.60 (Fibo 76.4% of 107.47/99.52 descend) in extension.
However, daily close above 104.43 (Fibo 61.8% of 107.47/99.52) is required to confirm bulls, as previous three attempts failed. This may signal prolonged consolidation, as Slow Stochastic is heading south after bearish divergence has formed on daily chart, which may trigger return to daily cloud top at 103.50.
Firm break below daily cloud top could signal recovery stall and open way for deeper correction of 100.05/104.62 rally.

Res: 104.35; 104.47; 104.62; 105.00
Sup: 103.92; 103.62; 103.50; 103.31

AUDUSD
Australian dollar eases on Monday and remains within daily cloud (spanned between 0.7574 and 0.7616) after three-day rally spiked at 0.7645, but upside rejection and subsequent pullback left daily candle with long upper shadow that signaled hesitation of near-term bulls. The notion is supported by long-legged weekly Doji, as weekly action was trading within 140-pips range, but failed to establish in clear direction.
Directionless near-term mode is expected to persist while the price holds in the cloud. Break below the cloud will generate bearish signal for further easing, while break and close above daily cloud top, will give positive signals of bullish resumption of the upleg from 0.7504 (13 Oct spike low). Bullish scenario also requires close above 0.7630 (Fibo 61.8% of 0.7708/0.7504 downleg) to confirm near-term bulls.
Res: 0.7620; 0.7658; 0.7688; 0.7708
Sup: 0.7586; 0.7579; 0.7558; 0.7535
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