EURUSD

The Euro returned to the upper boundary of near-term congestion and probes again above daily Kijun-sen barrier at 1.0605.
The near-term focus is turned higher again, after last Friday / yesterday’s easing was contained just above lower pivot at 1.0495 (daily Tenkan-sen).
Near-term technicals are in bullish mode and supportive for further upside, but mixed daily studies show no clear direction and repeated hesitation / rejection at strong 1.0605/20 resistance zone cannot be ruled out.
Such scenario would keep the price within already established range, between daily Tenkan-sen / Kijun-sen lines, for extended sideways trading.
Otherwise, firm break higher would signal extension of recovery from 1.0340 base towards next targets at 1.0663/68 (falling 55SMA / Fibo 61.8% of 1.0872/1.0339); 1.0700 (psychological barrier) and 1.0746 (Fibo 76.4%) in extension.
Bearish scenario requires return below Tenkan-sen support at 1.0495.

Res: 1.0605; 1.0625; 1.0668; 1.0700
Sup: 1.0569; 1.0509; 1.0495; 1.0448

GBP/USD

Cable remains under pressure and is probing below narrow consolidation range after sharp two-day fall.

Technicals maintain strong bearish tone on all timeframes and see risk of fresh extension lower and attack at key 1.2000 support zone.

The notion is supported by break and close below the neckline of asymmetric H&S pattern that was completed on daily chart.

Limited upside attempts were so far capped by broken neckline (1.2165) which guards next barrier at 1.2200 (former low of 28 Dec).

South-heading daily Tenkan-sen line marks upper pivot at 1.2270.

Res: 1.2165; 1.2198; 1.2243; 1.2270
Sup: 1.2100; 1.2081; 1.2050; 1.2000

USDJPY

Key near-term supports at 115.20/05(5/6 Jan lows) came under increased pressure after yesterday’s upside rejection at 117.52 and subsequent weakness that extended today and probed below first downside pivot at 115.87 (daily Kijun-sen line).
Fresh weakness turned near-term technicals to bearish mode, as daily indicators are pointing lower and suggest further easing after repeated upside rejection that formed double-top at 118.65/59.
The pattern weighs on near-term action that shows risk of firm break below 115.20/05 supports, to signal reversal and open way for deeper correction.
Such scenario would expose next supports at 114.52 and 113.95.
Daily Tenkan-sen offers strong resistance at 116.82, which is expected to cap extended upticks.

Res: 116.20; 116.62; 116.82; 117.52
Sup: 115.20; 115.05; 114.52; 113.95

AUD/USD

Aussie dollar extends yesterday’s rally and is testing strong resistance at 0.7383 (Fibo 61.8% of 0.7523/0.7158 downleg), after fresh bulls broke above initial barrier at 0.7340 (daily Kijun-sen).

Daily studies are gaining traction and support further recovery. Break above 0.7383 barrier which is holding for now, would open next hurdle at 0.7394 (Fibo 38.2% of larger 0.7776/0.7158 descend) and 0.7424 (falling 55SMA in extension.

Look for consolidation above broken Kijun-sen line (0.7340), before bulls resume.

Conversely return below 0.7340 would weaken n/t structure and signal false break above three-day congestion.

Res: 0.7383; 0.7394; 0.7424; 0.7436
Sup: 0.7340; 0.7323; 0.7286; 0.7258

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