Hourly structure weakened, as the price broke below initial 1.35 support. Fibonacci 38.2% of 1.3337/1.3567 upleg at 1.3480 was tested so far, with further corrective easing not ruled out. However, positive 4-hour studies see scope for shallow correction, before bulls re-assert for fresh attempt higher, as overall positive sentiment keeps near-term focus at the upper targets at 1.3567 and 1.3600 in extension, with key barrier at 1.3710, coming in sight. Strong supports lay at 1.3450, previous top and 1.34 zone, double Fibonacci support, 76.4% of 1.3337/1.3567 / 38.2% of 1.3103/1.3567 and should contain stronger pullback.

Res: 1.3547; 1.3567; 1.3600; 1.3658

Sup: 1.3479; 1.3450; 1.3425; 1.3400

Cable remains in extended consolidative phase above 1.6000, where the pullback from 1.6161 peak found temporary support. Hourly studies are neutral, while overall positive tone on the larger timeframes favors further upside. Break above initial barrier and near-term consolidation top at 1.6070, is required to confirm rebound and open 1.6100 and 1.6161 barriers for retest. Short-term targets at 1.6300 and 1.6380 remain in focus. The scenario would be delayed in case of further easing below 1.6000, while extension below 1.5900 and 1.5880, higher platform / Fibonacci 38.2% of 1.5427/1.6161, would sideline bulls.

Res: 1.6070; 1.6100; 1.6140; 1.6161

Sup: 1.6000; 1.5985; 1.5954; 1.5890

The pair consolidates pullback from 99.65, after finding temporary support at 98.65, near 50% retracement of 97.75/99.65 upleg. However, negative tone persists on the lower timeframes studies and keeps the downside at risk, with immediate supports at 98.48, Fibonacci 61.8% and 98.20 trendline support and psychological 98.00 level, loss of which would expose key near-term support at 97.75, 18/09 low. Only break above 99.65 would bring bulls fully in play and open 100 and 100.60 instead.

Res: 99.16; 99.65; 99.96; 100.21

Sup: 98.65; 98.44; 98.22; 98.00

The Aussie remains in a sideways consolidative mode, after pullback from 0.9526 high found ground at 0.9365, weekly low. Neutral tone prevails on hourly chart studies, while 4-hour structure remains bullish, with price action being underpinned by ascending 55DMA at 0.9355. Upside extension above consolidation tops at 0.9455 is required to confirm near-term **** and shift focus higher, while further easing below 0.9365 would risk further corrective action that should be ideally contained at 0.9300/0.9280, to keep bulls in play.

Res: 0.9455; 0.9483; 0.9500; 0.9526

Sup: 0.9393; 0.9365; 0.9340; 0.9300

The Euro continues to descend gradually, after losing 1.35 handle, with fresh weakness approaching strong 1.3450 support, 50% retracement of 1.3337/1.3567 upleg / previous top of 20/08. Negative hourly studies and 4-hour indicators breaking below the midlines, see scope for further correction towards next significant support zone at 1.3400/1.3390, former lower platform and double Fibonacci support. Key near-term support lies at 1.3330 higher platform and 50% retracement of 1.3103/1.3567. Larger picture outlook remains bullish and favors further upside, once near-term correction is completed.

Res: 1.3480; 1.3500; 1.3547; 1.3567

Sup: 1.3450; 1.3425; 1.3400; 1.3390

Cable continues to trend lower and retraced 76.4% of post Fed 1.5883/1.6161 rally, on extension to 1.5950, so far, where 55 DMA contained dips . Negatively aligned near-term studies favor further corrective action and risk retest of strong 1.5900/1.5883 support area, higher platform / Fibonacci 38.2% of 1.5427/1.6161, violation of which would signal stronger reversal and mark near-term top at 1.6161. Daily RSI, emerging of overbought territory, supports the notion, while only regain of lower platform at 1.6070 would ease immediate bear pressure and re-focus 1.6100 and 1.6161 barriers.

Res: 1.6000; 1.6019; 1.6070; 1.6100

Sup: 1.5950; 1.5900; 1.5883; 1.5831

The pair remains heavy and extends weakness off 99.65 upside rejection, to 98.48, 61.8% retracement of 97.75/99.65 ascend so far. Prevailing negative tone keeps the downside at risk, with immediate focus being at 98.20, trendline support / 76.4% retracement and psychological 98.00 support, ahead of key near-term support at 97.75, 18/09 low. Break here to open way for possible full retracement of larger 96.80/100.60 upleg. Daily studies are losing momentum and seen supportive for such scenario. Initial resistance lies at 99.16, while only break above 99.65 would turn near-term structure positive.

Res: 99.00; 99.16; 99.65; 99.96

Sup: 98.46; 98.22; 98.00; 97.75

The Aussie came under pressure again, following recovery attempt failure at 0.9455 and subsequent weakness that violated initial 0.9365 support. Near-term studies in negative territory, see risk of further downside, with immediate targets laying at 0.9300 and 0.9283, Fibonacci 38.2% of larger 0.8891/0.9526 ascend, below which to signal stronger correction and mark near-term top. From the other side, larger picture bulls remain intact and would keep further upside in play, as long as the price holds above 0.9200 support, higher platform and 50% retracement of 0.8891/0.9526 rally.

Res: 0.9412; 0.9455; 0.9483; 0.9500

Sup: 0.9340; 0.9300; 0.9283; 0.9222

The Euro regained levels above 1.35 handle after finding ground at 1.3460, just ahead of strong support at 1.3450, 20/08 previous high and 50% retracement of 1.3337/1.3567 rally. The price action moves towards the upper boundary of near-term range at 1.3550, with improved hourly structure and positive 4-hour studies, setting scope for possible fresh attack at key near-term barrier and peak at 1.3567. Break here to resume larger uptrend that commenced from 1.2754, with weekly close above 1.3567/1.3600 barriers, required to confirm bulls and open way towards short-term target at 1.3710, 01/02 annual high. To keep the structure intact, support at 1.3450 must hold dips. Previous resistance at 1.3500 offers immediate support that is reinforced by hourly Ichimoku cloud top.

Res: 1.3536; 1.3547; 1.3567; 1.3600

Sup: 1.3500; 1.3461; 1.3450; 1.3425

Cable regained ground on a bounce to the levels close to 1.6100 barrier, after pullback from 1.6161 peak, found support at 1.5953, Fibonacci 76.4% retracement of 1.5890/1.6161 rally. Bulls on lower timeframes studies returned to play, with near-term focus being shifted towards the upside. Clearance of initial 1.6100 hurdle to open key resistance at 1.6161, 19/09 high and signal completion of near-term corrective phase, with break higher to resume 9-week uptrend from 1.4812, 09/07 low and open way towards key short-term barriers at 1.6300 and 1.6380. To keep freshly established bulls intact, corrective dips should be contained at /above 1.6020, 50% retracement of 1.5953/1.6086 upleg.

Res: 1.6086; 1.6100; 1.6140; 1.6161

Sup: 1.6065; 1.6035; 1.6020; 1.6000

The dollar recovered a good part of the recent fall from 99.65, on a bounce from 98.25, where the price found support. Regain of levels above psychological 99.00 barrier, marks 61.8% retracement of 99.65/98.25 descend, with hourly indicators moving into positive territory, seeing potential for further recovery. From the other side, weak 4-hour structure keeps the downside vulnerable, while lower top at 99.65 stays intact. Break here to confirm reversal and re-open psychological 100 barrier. Initial supports lay at 98.80 and 98.50, while slide below 98.25 would bring bears back in play.

Res: 99.10; 99.16; 99.65; 99.96

Sup: 98.80; 98.46; 98.25; 98.00

The Aussie remains under pressure, as fresh extension lower fully retraced post-Fed rally from 0.9340. Negatively aligned near-term studies keep the downside at risk, with strong support zone at 0.9300, psychological support and 0.9280; higher low of 17/09 / Fibonacci 38.2% of 0.8891/0.9526 rally, coming in focus. Break lower to open next layers of support at 0.9250 and strong 0.9220/00 area, higher platform of 12/13 / 09 and 50% retracement, where any stronger pullback should be contained, to keep larger bulls intact. However, only regain of 0.9455 lower platform, would shift focus higher.

Res: 0.9412; 0.9455; 0.9483; 0.9500

Sup: 0.9337; 0.9300; 0.9280; 0.9222

The Euro erased last Friday’s gains, after rally stalled near 1.3567 peak and subsequent reversal dipped close to 1.3500 handle. Negative sentiment was confirmed by gap-lower opening, with price moving in the lower part of 1.3460/1.3567, one-week range. Hourly studies turned negative and keep the downside at risk, while 4-hour indicators are at the midlines. Bearish trigger will be seen on violation of strong 1.3460 / 50 support zone, where the range floor is reinforced by 55DMA and double Fibonacci, 23.6% retracement of 1.3103/1.3567 upleg and 50% of 1.3337/1.3567, as break here is expected to confirm double-top formation and open fresh leg lower towards 1.3400, round figure / 38.2% of 1.3103/1.3567 next. Conversely, bounce above 1.35 barrier, would avert immediate downside risk and signal continuation of sideways trading.

Res: 1.3505; 1.3522; 1.3536; 1.3563

Sup: 1.3476; 1.3461; 1.3450; 1.3425

Cable remains firm, as fresh extension higher completed near-tern 1.6161/1.5953 corrective phase. The price posted marginally fresh high at 1.6179, with positively aligned near-term technicals being supportive for possible attack at psychological 1.6200 barrier. However, overbought conditions on lower timeframes studies, see corrective pullback preceding fresh rally, with initial support at 1.6130, Friday’s intraday high / 23.6% of 1.5953/1.6179, ahead of 1.6100, 38.2% retracement / 26/09 high / 55DMA, seen as ideal reversal point. Overbought daily studies, however, require caution.

Res: 1.6179; 1.6200; 1.6250; 1.6300

Sup: 1.6130; 1.6100; 1.6060; 1.6028

The pair remains under pressure, as repeated failures to clear 99.00 barrier and trendline resistance, extended bears through triangle support at 98.47and previous low at 97.75. The fall retraced 61.8% of 95.78/100.60 rally, keeping the downside in near-term focus. Negative near-term studies and gap-lower opening today, maintain the pressure, with daily indicators breaking into negative territory, supporting the notion. Next supports lay at 96.90 higher platform and Fibonacci 76.4% and 96.80, 28/08 low, while initial barriers lay at 98.00/30 zone.

Res: 98.00; 98.30; 98.50; 98.80

Sup: 97.62; 97.00; 96.90; 96.80

The Aussie remains at the back foot, as the price continues to move lower, with psychological 0.9300 support being cracked on extension to 0.9280, Fibonacci 38.2% of 0.8891/0.9526. Prevailing negative tone on near-term studies keeps the downside at risk, with extension below strong 0.9220/00 support zone, higher platform / 50% retracement, to confirm near-term top and allow for further easing. Initial barriers lay at 0.9330 zone, while only regain of 0.9400 handle, would ease immediate bear pressure.

Res: 0.9330; 0.9373; 0.9400; 0.9455

Sup: 0.9280; 0.9222; 0.9200; 0.9134

The Euro regained strength after Monday’s weakness was contained above near-term consolidation floor and 55 DMA, with fresh gains above 1.35 handle, aiming towards the range’s upper boundary. Lower timeframes studies are positive and support final push through 1.3567 peak, for resumption of larger uptrend towards initial barrier at 1.3600 and key resistance and near-term target at 1.3710, 01/02 annual high. Initial supports lay at 1.3536 and 1.3517, while loss of 1.3500 would weaken the structure again.

Res: 1.3563; 1.3567; 1.3600; 1.3650

Sup: 1.3536; 1.3517; 1.3500; 1.3476

Cable remains firm and continues to trend higher, as final push through 1.6179/1.6200 hurdles, resumes the larger uptrend from 1.4812, annual low. As the last obstacles en-route to short-term targets at 1.6308 and 1.6380 were cleared, likely scenario would be test of Apr/Sep 2012 highs at 1.6300/08 and 1.6380, 2012 high. Positive technicals support the notion, however, overbought conditions on lower timeframes, suggest corrective easing, with initial supports at 1.6200 and 1.6179/61, previous highs.

Res 1.6300; 1.6308; 1.6350; 1.6380

Sup: 1.6200; 1.6180; 1.6161; 1.6126

The pair remains under pressure, as recovery rally from fresh low at 97.48 was capped by bear-trendline at 97.70. Hourly studies are losing traction, with 4-hour technicals maintaining negative tone that sees increased risk of lower top formation and resumption of bear phase from 100.60, with slide below 97.48, required to confirm. Bearish continuation to focus 97.00 zone, higher platform / Fibonacci 76.4% of 95.78/100.60 and broken bear channel line, drawn off 101.52 peak. Any stronger recovery would require clear break above 99.00 barrier, to avert immediate downside risk.

Res: 98.00; 98.45; 98.71; 99.00

Sup: 97.62; 97.48; 97.00; 96.90

The Aussie regains strength after repeated attempt lower was contained at 0.9280, Fibonacci 38.2% of 0.8891/0.9526 rally, where near-term **** has been formed. Fresh rally above 0.9400 barrier, also 50% of 0.9526/0.9280 fall, turns near-term technicals positive and shifts focus higher. However, to confirm higher low formation, regain of lower top at 0.9455 is required. Overbought hourly studies see risk of corrective pullback, with dips to be ideally contained at 0.9350 zone.

Res: 0.9422; 0.9455; 0.9483; 0.9500

Sup: 0.9390; 0.9368; 0.9350; 0.9334

The Euro completed near-term consolidative phase and broke above range tops at 1.3567/79, to crack the next barrier at 1.3600, with fresh high being posted at 1.3622. The last significant hurdle on the way towards short-term target at 1.3710, 2013 high, has been dented that signal final push higher for completion of multi-month 1.3710/1.2744 corrective phase. Near-term technicals are positively aligned, however, caution is required, as overbought hourly conditions and formation of 4-hour RSI / MACD bearish divergence, would signal further hesitation at 1.36 zone. Initial support lies at 1.3576 higher low, ahead of 1.3550, 50% of 1.3476/1.3622 upleg and pivotal 1.3500 support, higher platform and 4-hour Ichimoku cloud top, loss of which would be bearish. Alternatively, close above 1.36 handle, is required to confirm bullish resumption.

Res: 1.3622; 1.3658; 1.3700; 1.3710

Sup: 1.3576; 1.3550; 1.3532; 1.3500

Cable trades in a near-term consolidative mode, after renewed attempt higher stalled on approach to the fresh high at 1.6259, posted on 01/10. Overall bulls, however, remain intact and keep focus at short-term targets at 1.63 zone and 2013 high at 1.6380, posted on 02/01. Further consolidation is not ruled out, as near-term indicators are in descending mode, with higher low at 1.6160, expected to hold. Otherwise, break lower would signal stronger corrective action, with overbought daily studies supporting the notion.

Res 1.6239; 1.6250; 1.6259; 1.6300

Sup: 1.6200; 1.6160; 1.6126; 1.6100

The pair remains pressured, as fresh extension of near-term downleg from 100.60, broke below bull trendline off 93.78, 13/06 low, approaching psychological 97.00 level, ahead of more significant 96.80, 28/08 higher low. With near-term indicators holding in the negative territory, further easing is seen favored, with break below 96.80, also near 76.4% retracement of 95.78/100.60 ascend, expected to open 96.55, 200DMA and key 95.78 support, 08/08 low. Corrective rallies may precede fresh weakness, with initial resistances laying at 98.00/28 and rallies seen limited under 98.71, 01/10 lower top.

Res: 98.00; 98.28; 98.71; 99.00

Sup: 97.13; 97.00; 96.80; 96.55

The pair holds positive near-term tone off 0.9280 ****, as pullback from recovery top at 0.9434, found footstep at 0.9332. The rally cracked psychological 0.9400 barrier, with clear break here and 0.9434, required to confirm higher low formation and allow for further recovery. Conversely, rejection under 0.9432, would keep the downside vulnerable and signal prolonged consolidation, as long as 0.9280 support holds.

Res: 0.9400; 0.9409; 0.9434; 0.9455

Sup: 0.9365; 0.9332; 0.9300; 0.9280