EURUSD

The Euro is consolidating around 1.0750 handle, following yesterday’s strong rally that peaked at 1.0795, ticks ahead of next strong barrier at 1.0800 zone.
Monday’s large bullish candle with long tail strongly underpins fresh near-term bulls for probe above 1.0800 (1.0795 – 30SMA / 1.0807 – Fibo 38.2% of 1.1298/1.0504 fall).
Firm break higher may extend towards 1.0900 (50% retracement).
Dips are still holding above initial support at 1.0726 which guards strong support at 1.0690 (former strong resistance, reinforced by 5/20 SMA bull-cross).
Downside trigger lies at 1.0649 (daily Tenkan-sen), loss of which will be bearish.

Res: 1.0795; 1.0807; 1.0849; 1.0900
Sup: 1.0726; 1.0690; 1.0649; 1.0615

GBPUSD

Near-term price action is establishing above daily cloud top at 1.2720 that now reverted to initial support.
Firm break above daily cloud generates bullish signal for test of 1.2800 zone (July’s post-Brexit consolidation lows / 100SMA) and 1.2890 (Fibo 61.8% of 1.3441/1.1997 fall) in extension).
Firmly bullish daily studies support scenario, however, overbought Slow Stochastic suggests bulls may take a breather in the near-term, but no bearish signal seen for now.
Broken cloud top offers immediate support, along with former high at 1.2671, with extended dips expected to remain above 1.2600 handle.

Res: 1.2795; 1.2850; 1.2890; 1.2944
Sup: 1.2720; 1.2671; 1.2615; 1.2570

USDJPY
The pair trades in extended consolidation under fresh high at 114.8, where yesterday’s rally stalled.
Overall structure remains firmly bullish for fresh attempts above 115.00 barrier and test of weekly cloud top at 115.40.
Rising daily Tenkan-sen underpins the action (currently at 113.07).
Daily RSI bearish divergence requires caution, however, no bearish signals seen so far.
Initial n/t pivots lay at 113.07/112.85, loss of which would generate initial signals of rally’s stall.
Extension below 111.34 (28 Nov trough) is needed to confirm pullback.

Res: 114.14; 114.81; 115.40; 116.00
Sup: 113.48; 113.07; 112.85; 112.04

AUDUSD
Aussie is in red today, following repeated upside rejection at 0.7495 on Monday, which threats of lower platform formation and fresh weakness, as overall picture is bearish.
The price is for now holding above initial support at 0.7419 (daily Tenkan-sen) and more significant 0.7400 support zone (weekly cloud top).
Break here would generate stronger bearish signal and expose lower breakpoint at 0.7368 (01 Dec trough).
Conversely, firm break above strong 0.7500 resistance zone will expose next upper pivots at 0.7527/42 (200SMA / daily Kijun-sen).
Res: 0.7481; 0.7495; 0.7527; 0.7542
Sup: 0.7429; 0.7408; 0.7368; 0.7308

 , Daily Market Outlook