EURUSD
The Euro bounced above 1.0700 handle, on consolidation of steep and uninterrupted 8-day fall that hit fresh low at 1.0665 on Wednesday, levels last traded in December 2015.
Rally is so far holding under fist strong resistance at 1.0745 (hourly cloud base, reinforced by falling 5SMA) which guards significant barriers at 1.0815 (Tuesday’s high / Fibo 23.6% of 1.1298/1.0665 fall) and 1.0849 (former low of 25 Oct).
Overall strong bearish structure favors further weakness, with upticks seen as selling opportunities and correction expected to be ideally capped under 1.0815 barrier.
Yesterday’s close below 1.0700 generated another bearish signal for extension of recent downtrend that may stretch towards very strong supports at 1.0500 zone.
Series of long bearish candles maintain negative sentiment, as 09 Nov daily candle with very long upper shadow, continues to weigh on near-term structure.
Alternative scenario requires firm break above 1.0849 trigger to sideline immediate bulls for extended corrective phase.

Res: 1.0745; 1.0815; 1.0849; 1.0900
Sup: 1.0665; 1.0600; 1.0550; 1.0519

GBPUSD

Cable extended Thursday’s recovery from 1.2410 zone where hourly higher base has formed and spiked to 1.2500 barrier on upbeat UK retail sales data. Fresh rally probed again above important 1.2490 barrier (Fibo 38.2% of 1.2671/1.2378 downleg) which so far resisted several attacks that were capped by daily Tenkan-sen line at 1.2511.
Near-term studies are neutral, while daily technicals are mixed but holding strong momentum, however, sustained break above Tenkan-sen pivot is needed to improve the outlook and signal further upside.
Next strong barrier lies at 1.2580 (base of falling daily cloud) which guards breakpoint at 1.2671 (11 Nov recovery peak).
Repeated failure at Tenkan-sen barrier would signal prolonged sideways action, with markets are focusing on US inflation numbers and speech from Fed chief Yellen, later today.
On the downside, daily Kijun-sen line marks first pivot at 1.2375, ahead of 1.2350 (09 Nov trough) loss of which will be bearish.
Res: 1.2490; 1.2511; 1.2559; 1.2602
Sup: 1.2453; 1.2410; 1.2375; 1.2350

USDJPY
The pair shows signs of hesitation on approach to psychological 110.00 barrier, as Wednesday’s action ended in Doji, despite posting fresh high at 109.74. Pullback was not deep and found temporary footstep at 108.53, with today’s trading being so far shaped in Doji candle, signaling indecision.
Daily studies remain firmly bullish, however, deeper correction cannot be ruled out as overbought daily RSI and Slow Stochastic started to point lower.
Extended pullback would face next good support at 107.72 (15 Nov low / Fibo 23.6% of 101.17/109.74 rally), which guards very strong support at 106.44 (daily 10/200 SMA’s golden-cross) which is expected to contain extended dips.
Events from the US due later today are focused for more clues about near-term direction.
Res: 109.44; 109.74; 110.00; 110.50
Sup: 108.53; 108.00; 107.72; 107.00

AUDUSD
The pair remains in red on Thursday but yesterday’s fresh one-month low at 0.7458 is holding the downside for now. Wednesday’s long red candle weighs, with close well below broken 200SMA, offering strong bearish signal. Fresh weakness is approaching target at 0.7440 (13 Sep low / floor of three-month congestion), with break here expected to trigger further weakness in extension of steep downtrend from 0.7776 (08 Nov peak).
Bearish daily studies support the notion, ignoring for now deeply oversold Slow Stochastic.
Broken 200SMA now acts as strong resistance at 0.7509, ahead of lower top at 0.7579.

Res: 0.7499; 0.7509; 0.7579; 0.7617
Sup: 0.7458; 0.7440; 0.7419; 0.7387

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