EURUSD
Near term price action is consolidating around 1.0700 handle which was cracked overnight, as the pair continues to post fresh yearly lows. Yesterday’s bearish candle with long upper shadow, formed on rejection at 1.0800 zone, weighs on near-term structure, as big bearish candles of 09 Nov and weekly candle, both with very long upper shadows, maintain strong downside pressure.
Extended consolidation at 1.0700 zone could be anticipated as daily studies are extended, though no bullish signal seen for now.
Upticks should be ideally capped under yesterday’s high at 1.0815, with possible extension towards strong resistance at 1.0840, before bears resume.
Firm break below 1.0700 handle would signal stronger bearish acceleration, as there are no obstacles on the way towards critical supports at 1.0519/1.0461 (Dec / Mar 2015 lows) which mark the lowest levels since 2003.

Res: 1.0758; 1.0815; 1.0840; 1.0900
Sup: 1.0745; 1.0707; 1.0678; 1.0572

GBPUSD

Cable moved higher from Tuesday’s low at 1.2378, where bearish acceleration, driven by negative UK data, was contained by daily Kijun-sen line. However, recovery attempts were so far limited and hold below daily Tenkan-sen line which marks the upper pivot (currently at 1.2511).
Mixed daily studies show no clear near-term direction, as the price remains between daily Tenkan-sen and Kijun-sen lines.
Break and close above Tenkan-sen barrier will generate initial bullish signal and expose strong barrier at 1.2623 (daily cloud top) which capped recent recovery rally.
Conversely, sustained break below daily Kijun-sen line (1.2378) is expected to signal further easing and attack at key near-term support at 1.2350 (09 Nov post-US election low) which marks lower breakpoint.
Res: 1.2500; 1.2511; 1.2559; 1.2602
Sup: 1.2435; 1.2378; 1.2350; 1.2306

USDJPY
The pair continues to trend higher, on steep ascend that extends into seventh straight day. Eventual close above double-Fibonacci barrier at 108.45 fuelled fresh acceleration higher that extended well above 109.00 barrier. Bulls are eyeing psychological 110.00 resistance, above which there will be no significant obstacles until 111.36 (50% retracement of larger 123.74/98.98 descend / May’s high).
Hesitation at 110.00 could be anticipated as daily studies are strongly overbought, though no signs of generating firmer bearish signals for now.
Bids lay at 108.80/50 zone, where corrective dips should be contained.
Res: 109.60; 110.00; 110.50; 111.36
Sup: 108.80; 108.50; 108.00; 107.75

NZDUSD
Kiwi resumes larger descend that was paused at 0.7068 in past two days and id hitting fresh one month lows. Resumption of steep fall from 0.7401 peak extends into sixth day, looking for attack at key short-term supports at 0.7033 (13 Oct trough); 0.7020 (200SMA) and psychological 0.7000 support. Sustained break here would trigger significant downside, as fresh weakness is cracking the neckline of asymmetrical weekly H&S pattern (0.7069) that would signal stronger bearish acceleration.
At the upside, former higher base at 0.7100 zone offers solid resistance, with extended upticks expected to stay capped under 0.7150.

Res: 0.7100; 0.7150; 0.7187; 0.7228
Sup: 0.7055; 0.7033; 0.7000; 0.6949
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