EURUSD
The Euro remains under pressure in the near-term and extends pullback from 1.1277 (26 Sep peak) to fresh low at 1.1180 on Wednesday. Long red candle that was formed on Tuesday generated strong bearish signal. Renewed probe below strong 1.1200 support zone (daily Ichimoku cloud top / daily Tenkan-sen line), spiked to 1.1180 (Fibo 61.8% of 1.1122/1.1277 recovery leg) so far, with daily close below 1.1200, needed to confirm bearish stance. Extension below 1.1180 and daily cloud base at 1.1167 will bring bears fully in play.
However, thickening daily cloud marks strong support, with no sustained break below cloud top seen so far, seeing potential for consolidation above the cloud, before bears resume. Falling daily Kijun-sen line, currently at 1.1230, should cap extended upticks.

Res: 1.1218; 1.1230; 1.1258; 1.1280
Sup: 1.1180; 1.1167; 1.1148; 1.1122

GBPUSD

Near-term action holds above 1.2913, where hourly base has formed. Subsequent bounce probed above 1.3000 barrier, with yesterday’s close above, signaling that the pair may spend some time in consolidation above 1.2913 lows. Near-term studies regained traction and support scenario.
However, limited upside action is expected as overall picture remains firmly bearish. Extension above session high at 1.3029 will face strong resistance at 1.3065 (the upper boundary of bear-channel from 1.3443 peak), which guards very strong resistance at 1.3092 (base of massive daily Ichimoku cloud, spanned between 1.3092 and 1.3905), where extended upticks will be capped.
Shorts on rallies remain favored for renewed attack at 1.2913 and extension towards post-Brexit lows at 1.2864 / 1.2795, with latter marking Cable’s fresh 31-year low.

Res: 1.2985; 1.3007; 1.3040; 1.3080
Sup: 1.2947; 1.2913; 1.2864; 1.2795

USDJPY

The pair continues to trade above strong 100.00 zone support, where near-term base has formed. Consolidation range is spanned between 100.00 and 101.23, with mixed setup of near-term studies, suggesting limited upside for now.
Strong overall bearish bias maintains downside pressure for renewed attack at 100.00 support (reinforced by bull-trendline, drawn off 98.98, 24 June low) and extension towards next targets at 99.52 and post-Brexit 98.98 low.
Initial resistance lies at 100.97, followed by consolidation top at 101.23, which guards daily Tenkan-sen line at 101.41.
Upper breakpoints lay at 102.19 (daily cloud base) and 102.40 (bear-trendline from 111.43, 30 May high).
Res: 100.97; 101.23; 101.73; 102.11
Sup: 100.23; 100.00; 99.52; 98.98

AUDUSD
Aussie consolidates under fresh recovery high at 0.7693, posted on yesterday’s fresh bullish extension. Firm bullish setup of daily studies supports further advance, however, long-legged yesterday’s candle and daily close below former high at 0.7672 (posted on 22Sep), may signal hesitation. The notion is supported by bearish divergence on daily Slow Stochastic.
Extended consolidation could be seen as near-term scenario, before bulls resume towards targets at 0.7730/58.
Daily cloud top at 0.7629 offers solid support, where dips should be ideally contained. Former consolidation floor, also Fibo 38.2% of 0.7440/0.7693 recovery leg at 0.7600 zone, marks breakpoint, loss of which will signal stronger correction.

Res: 0.7685; 0.7693; 0.7730; 0.7758
Sup: 0.7658; 0.7629; 0.7600; 0.7585

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