EURUSD
The single currency fell further on Friday, extending steep descend post US elections, as bearish candle of 09 Nov with very long upper shadow that also marked strong rejection above daily cloud, continues to heavily weigh on near term outlook. Friday’s fresh weakness probed below 1.0600 handle and posted new yearly low at 1.0580, on approach to critical supports at 1.0519/1.0461 (lows of Dec / Mar 2015), the lowest levels since 2003.
The Euro maintains strong bearish sentiment and so far ignores oversold conditions on daily studies, being on track for the second strong bearish weekly close.
Selling upticks remains favored for final attack at 1.0500 zone. Session high at 1.0627 marks immediate resistance, with 1.0744/58 (highs of Thu / Wed) marking next barriers which should be capping upticks.

Res: 1.0627; 1.0700; 1.0744; 1.0758
Sup: 1.0580; 1.0519; 1.0500; 1.0461

GBPUSD

Cable was lower on Friday amid broader dollar’s strength and dipped close to key near-term support at 1.2375 (15 Nov low, reinforced by daily Kijun-sen line). The pair traded within 1.2400/1.2500 range in past two days on mixed daily studies, being resilient on recent dollar’s strength.
Near-term studies are entering bearish mode and firm break below 1.2375 handle could trigger fresh weakness for attack at near-term breakpoint at 1.2350 (09 Nov post-US elections low), loss of which is needed to revive daily bears for extension towards next strong supports at 1.2306/21 zone (Fibo 61.8% of 1.2081/1.2671 / 30 SMA).
Selling upticks towards daily Tenkan-sen line (1.2511) is favored, while sustained break here would neutralize downside threats and shift near-term focus higher.

Res: 1.2430; 1.2453; 1.2474; 1.2511
Sup: 1.2375; 1.2350; 1.2321; 1.2306

USDJPY
The pair came ticks ahead of 111.00 barrier on fresh extension of Thursday’s bullish acceleration that eventually broke and close above psychological 110.00 level. Steep multi-day ascend remains strongly underpinned by long-tailed 09 Nov daily candle, as rally was additionally boosted by break above 200SMA and double-Fibonacci barrier at 108.45.
Round-figure 111.00 barrier is in immediate focus, ahead of 111.36 (50% of larger 123.74/98.98 fall), as bulls eye strong barrier at 112.12 (weekly cloud base).
Overextended daily studies so far don’t show any signal of correction, with strong bids at 110.00 zone (near session low) and next good support laying at 108.53 (Thursday’s low / Fibo 23.6% of 101.17/110.91 rally).
Res: 111.00; 111.36; 111.87; 112.12
Sup: 110.40; 110.00; 109.74; 109.00

AUDUSD
The Aussie dollar remains in red for the third day and holds below 0.7400 handle after strong supports at 0.7440 (13 Sep low) and 0.7419 (27 July low) were taken out.
Fresh weakness also cracked important barrier at 0.7385 (Fibo 61.8% of broader 0.7146/0.7776 uptrend), with close below here to confirm strong bearish stance, as the pair on track to complete the second weekly week in red.
Further weakness could extend to 0.7300 zone (Fibo 76.4% / 16/24 June lows).
Broken former supports now act as initial resistances at 0.7419/40, followed by broken 200 SMA at 0.7512 that should limited extended upticks.
Daily studies are oversold but no bullish signals seen for now.

Res: 0.7419; 0.7440; 0.7511; 0.7579
Sup: 0.7363; 0.7303; 0.7283; 0.7258

USDTRY
The dollar hit new record high against Turkish lira above 3.40 on Friday, on extension of steep acceleration that commenced at the beginning of November. Strong US dollar and recent political uncertainty in Turkey, keep lira under very strong pressure.
The pair is riding on extended wave C of five-wave cycle from 2.7852 (02 May low) that is approaching its 161.8% Fibonacci expansion at 3.4298 and is capable of travelling to 3.4763 (FE 176.4%), possibly to extended towards psychological 3.50 barrier.
Strongly overbought studies on all larger timeframes have so far being ignored, as the pair continues to rally.
Dip buying scenario remains favored. Initial support lies at 3.36 zone (session low), followed by 3.3239 (Fibo 23.6% of 2.0512/3.4081) and psychological 3.30 support.
Res: 3.4081; 3.4298; 3.4500; 3.4763
Sup: 3.3720; 3.3600; 3.3239; 3.3000

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