EURUSD
The Euro touched 1.1100 level on Wednesday, on extension of previous day’s strong rally that closed well above former pivots at 1.1000/13 (psychological barrier / Fibo 38.2% of 1.1277/1.0849 descend).
Extended recovery off pair’s fresh multi-month low at 1.0849 remains supported by recent dollar-negative mode on rising uncertainty ahead of US election, eyes strong resistance at 1.1114 (Fibo 61.8% of 1.1277/1.10849 / weekly cloud base).
Daily close above here is needed to confirm strong bullish stance and open way for test of daily 100 / 55 SMA’s at 1.1133/42 and expose next pivots at 1157 /76 (daily Ichimoku cloud base / 200SMA).
North-heading daily indicators and 10; 20 & 30 SMA’s turning into bullish setup, support the notion.
However, correction should be anticipated in the near-term, as Slow Stochastic is overbought, but no bearish signal being generated so far.
Broken 30SMA offers immediate support at 1.1075, followed by daily Kijun-sen that so far contained today’s action at 1.1049.
Further easing could be expected on break here, with psychological 1.1000 support, reinforced by formation of daily 5/20SMA’s bull-cross, expected to contain extended dips.

Res: 1.1100; 1.1114; 1.1133; 1.1142
Sup: 1.1075; 1.1049; 1.1000; 1.0958

GBPUSD

Cable ticked higher on Wednesday and posted fresh, marginally higher high at 1.2282 (vs yesterday’s 1.2279 high), but is still showing strong indecision after cracking important resistance at 1.2270, as Tuesday’s trading was shaped in Doji candle.
The pair was dragged by Euro’s strength but so far lacks momentum for final attack at key 1.2330 barrier (19 Oct high / n/t consolidation top).
Setup of technical studies remains mixed, with positive near-term studies and prevailing bearish tone on dailies that suggests further indecision while the pair is unable to clearly break 1.2270 barrier.
Sustained break here is needed to open key 1.2330 barrier, while repeated failures to close above 1.2270 would keep the downside vulnerable.
Lows of today and Tuesday at 1.2218/04, reinforced by converged daily 5/10 SMA’s, mark solid supports, ahead of daily Tenkan-sen line at 1.2181, loss of which will bring near-term bears back to play.

Res: 1.2282; 1.2300; 1.2330; 1.2401
Sup: 1.2230; 1.2218; 1.2204; 1.2181

USDJPY
The pair remains in strong downtrend from fresh high at 105.51 that accelerated on Tuesday and extended weakness to fresh low at 103.42 today. The level marks Fibo 38.2% of 105.05/105.51 ascend, also near the top of thick daily cloud at 103.50 and offers solid support, where pullback from 105.51 should be ideally contained.
However, strong dollar-negative sentiment that was established in past few days sees risk of further easing. Violation of 103.42 low would signal fresh downside extension towards next good bids at 102.90/80 zone (daily Kijun-sen / 50% of 100.05/105.51).
Slow Stochastic is breaking into oversold zone and is expected to generate bullish signal.
Conversely, firm break below 102.80 would confirm strong bearish scenario and risk extension to next strong supports at 102.13/101.79 (Fibo 61.8% / daily cloud base.

Res: 103.92; 104.15; 104.28; 104.47
Sup: 103.42; 102.80; 102.13; 101.79

AUDUSD
The Aussie recovered the biggest part of today’s fall to 0.7610, the low of two-legged pullback from Tuesday’s high at 0.7687. Near-term studies are regaining traction, with bullish setup of daily studies, keeping near-term focus at the upside or now.
However, repeated upside rejections that left series of lower tops and daily candles of yesterday / 26 Oct with long upper shadows, signal persisting downside pressure.
Near-term action is holding within the triangle and initial signals will be generated on break through triangle borders (upper at 0.7678 and lower at 0.7616).
At the upside, spike highs at 0.7687 and 0.7707, mark next pivotal barriers, while lower boundary is reinforced by daily Kijun-sen line and break here would weaken near-term structure for extension towards next supports at 0.7590 and 0.7556.

Res: 0.7656; 0.7687; 0.7707; 0.7732
Sup: 0.7631; 0.7616; 0.7590; 0.7556

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