EURUSD

The pair extends near-term recovery off fresh low at 1.0365 for the second day.

Bullish hourly studies are supportive for extended recovery (rising hourly Tenkan-sen at 1.0459 underpins), but limited upside action is expected.

Overall picture is negative (weekly close below former critical support at 1.0461 –bearish signal).

Hourly cloud top offers solid resistance at 1.0517, ahead of 1.0559 (Fibo 38.2% of 1.0872/1.0365 downleg) where recovery rally should be ideally capped.

Only extension above 1.0665/78 (13 Dec lower top / Fibo 61.8%) would signal reversal.

Hourly cloud base offers solid support at 1.0432, while break below 1.0399 (16 Dec low) would signal an end of recovery rally.

Res: 1.0478; 1.0517; 1.0559; 1.0600
Sup: 1.0432; 1.0399; 1.0365; 1.0345

GBPUSD

Recent bearish acceleration was so far contained by daily cloud base at 1.2370, with recovery being so far capped at 1.2500 zone (Fibo 38.2% of two-day 1.2720/1.2374 fall).

Strong barriers lay ahead at 1.2536 (daily Kijun-sen) and 1.2550 (daily Tenkan-sen / hourly cloud top) that should ideally cap recovery, despite still being bullishly aligned.

Daily studies are entering full bearish setup and favor limited recovery ahead of fresh attempt below narrowing daily cloud base, which currently lies at 1.2410 and weakness could extend towardsnext pivots at 1.2345/00.

Conversely, firm break above 1.2600 zone (Fibo 61.8%) would sideline existing downside risk and shift focus higher.

Res: 1.2500; 1.2536; 1.2550; 1.2591
Sup: 1.2464; 1.2425; 1.2410; 1.2374

USDJPY

The pair extends pullback from fresh high at 118.65, posted on 15 Dec, where larger rally was temporarily capped.
Dips found footstep at 116.96 (15 Dec low/broken FE 261.8%) but n/t risk remains at the downside, as overbought daily RSI/Slow Stochastic turned south and are about to break below overbought zone border.
This would generate stronger bearish signal for deeper correction.
Next pivot lies at 115.87 (daily Tenkan-sen), ahead of 114.70 zone (13 Dec trough/former highs), loss of which would signal further downside. Initial resistance lies at 117.94 (session high), followed by 20d upper Bollinger band at 118.23 and 118.65 peak, break of which would open targets at 119.50 and 120.00.

Res: 117.94; 118.23; 118.65; 119.50
Sup: 116.97; 116.24; 115.87; 114.70

AUDUSD

The Aussie is consolidating above fresh low at 0.7264, posted on strong three-day fall after repeated upside rejections at 0.7500 resistance zone.

Final break and close below former low at 0.7308 (21 Nov low) signals further downside.

Next strong supports lay at 0.7210 (Fibo 61.8% of larger 0.6825/0.7833 ascend) and 0.7143 (24 May trough).

Large weekly bearish candle with long upper shadow weighs heavily, with daily studies being in strong bearish setup.

However, extended consolidation may precede fresh bears, as daily Slow Stochastic is oversold.

Former key support at 0.7308 now acts as initial resistance, followed by weekly cloud base at 0.7329 and 0.7363 (Fibo 38.2% of 0.7523/0.7264 fall).

Sustained break above daily Tenkan-sen at 0.7393 would sideline immediate bears.

Close above 0.7424 (daily Kijun-sen / Fibo 61.8%) is needed to neutralize and shift focus higher.

Res: 0.7308; 0.7329; 0.7393; 0.7424
Sup: 0.7264; 0.7210; 0.7143; 0.7063

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