EUR/USD

No significant changes from the previous day, as the pair is holding near correction highs at 1.0450 for the second day, unable break higher, in pre-holiday thinning trade.

Bullishly aligned near-term studies keep the price near session highs, but overall bearish structure weighs and sees limited corrective action ahead of fresh attempts lower.

Daily Tenkan-sen that now turned sideways, lays at 1.0510 and is seen as ideal cap for extended upticks.

Any sustained break above would signal extended correction that may stretch towards 1.0600 zone (daily Kijun-sen).

Res: 1.0450; 1.0478; 1.0510; 1.0552
Sup: 1.0400; 1.0387; 1.0351; 1.0300

GBPUSD

The pair is stable below daily cloud and trading within narrow consolidation range above fresh one-month low at 1.2311, posted on 20 Dec. Neutral hourly studies suggest further directionless trading, as volumes are lowering ahead of holidays. Overall structure remains bearish, following recent break below cloud and multiple MA’s bear-crosses that maintain downside pressure. We need to see daily close below cracked important support at 1.2345 (Fibo 61.8% of 1.2081/1.2772 upleg), to confirm bearish resumption. Next targets lay at 1.2300 (18 Nov trough) and 1.2244 (Fibo 76.4% retracement). Broken daily 55SMA marks initial resistance at 1.2408, with daily Ichimoku cloud base at 1.2443, expected to cap upticks.

Res: 1.2388; 1.2408; 1.2443; 1.2505

Sup: 1.2344; 1.2311; 1.2300; 1.2244

USDJPY

Near-term action is entrenched within the triangle, as fresh bulls were unable to clearly break above 118.00 handle. However, overall strongly bullish structure further upside, but the price may spend more time in consolidation, as market is getting thinner ahead of Christmas weekend. Look for initial signals on probes out of the triangle, however, clearer signals require break of key n/t points at 116.68/53 (daily Tenkan-sen/correction low) or 118.65.(15 Dec peak). Caution on overbought daily studies.

Res: 118.05; 118.40; 118.65; 119.07

Sup: 117.38; 117.00; 116.68; 116.53

AUDUSD

The pair is attempting lower after two-day narrow consolidation, signaling resumption of steep downtrend from 0.7500 resistance zone. Daily studies are in firm bearish setup and favor extension of the downleg from 0.7523(14 Dec high) towards Fibo projection targets at 0.7175 and 0.7093. Oversold daily studies so far did not generate bullish signals, suggesting further easing, before possible corrective attempts. Initial barriers lay at 0.7256/77, ahead of former low at 0.7308 and falling 10SMA at 0.7345, which should ideally cap.

Res: 0.7277; 0.7308; 0.7345; 0.7398

Sup: 0.7200; 0.7175; 0.7143; 0.7100

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