The Euro remains under pressure, with overnight’s fresh weakness erasing 20-pips gap higher opening and retesting 1.2425 zone, Fibonacci 61.8% retracement of 1.2360/1.2530 upleg. Near-term higher **** is forming here, for consolidative phase, before fresh attempt towards 1.2400 level, Fibonacci 76.4% and short-term **** at 1.2360, which contained last week’s fresh attempts lower. Sustained break below 1.2360, to resume larger descend from 1.3992 and open 1.2100, bull-trendline, connecting 2005/2010 lows and pivotal 1.2042, July 2012 low.
Last Friday’s close in red and below daily Tenkan-sen line, favors further downside attempts, which may be delayed by extended consolidative action above 1.2360, signaled by positive weekly close. Weak technicals of lower timeframes, keep the upside attempts limited for now, as overall picture remains bearish, however, lift above last week’s high at 1.2530 and bear-trendline, drawn off 1.2884, peak of 15 Oct at 1.2540, would delay bears for attack at key 1.2597 barrier, November’s high and consolidation range top, above which to confirm double bottom at 1.2360 and spark stronger corrective action.

Res: 1.2488; 1.2500; 1.2530; 1.2566

Sup: 1.2425; 1.2400; 1.2331; 1.2300

Cable remains under pressure, with fresh weakness under way and probing below near-term **** at 1.5590. Last Friday’s long red candle signals continued pressure from 1.5823, recovery rejection, with weekly close in Doji with long upper shadow, suggesting further consolidation with strong selling interest. The notion is supported by close below Fibonacci 61.8% of larger 1.4812/1.7189 ascend, with fresh extension of the third wave from 1.6522, 19 Sep lower top, expected to travel to 1.5387, its 100% Fibonacci expansion, with psychological 1.5000 support, expected to come in near-term focus. However, further hesitation ahead of clear break below 1.5590 ****, could be expected, with 1.5700, 50% retracement of 1.5823/1.5583 downleg, reinforced by daily Tenkan-sen line, offering good resistance, ahead of lower top at 1.5740, where extended rallies should be capped.

Res: 1.5700; 1.5740; 1.5770; 1.5800

Sup: 1.5600; 1.5583; 1.5550; 1.5500

The pair maintains positive near-term tone and eventually completed 118.96/117.22 corrective phase, by cracking 119 barrier. Positive daily and weekly close, keeps bulls in play for final push towards psychological 120 barrier, also Fibonacci 61.8% of multi-year 147.68/75.55 descend and lower boundary of strong 120/124 resistance zone. Corrective action on overbought near-term studies, so far tested 118.00 zone, hourly higher **** and just above Fibonacci 61.8% of 117.22/119.12 upleg, where dips should be contained, to keep bulls in play for fresh attempts higher. Otherwise, loss of 118 handle, would signal prolonged consolidative action, with pivotal support at 117.22, expected to come in focus.

Res: 118.58; 119.02; 119.50; 120.00

Sup: 118.00; 117.67; 117.22; 117.00

AUDUSD The pair comes under increased pressure, following weekly gap-lower open, after last Friday’s negative close occurred ticks above psychological 0.85 handle. The second long red previous week’s candle, also suggests further weakness, as the pair’s fresh extension lower took out bull-channel support at 0.8460, opening way towards psychological 0.80 support, on close below the latter. Consolidative action above fresh lows near 0.84 handle, is expected to precede fresh weakness. Session high at 0.8480, also previous low of 26 Nov, offers initial resistance, ahead of 0.8500 and last Friday’s high at 0.8538.

Res: 0.8500; 0.8538; 0.8574; 0.8600
Sup: 0.8415; 0.8400; 0.8380; 0.8350

Yesterday’s bumpy ride, which bounced from the levels near 1.24 support and probed briefly above 1.25 barrier, ended day in Doji candle and near the mid-point of entire rally from 1.2417 to 1.2505, trading in triangular consolidation. This keeps near-term tone in neutral mode, ranging between 1.24 and 1.25 boundaries, as the price consolidates around daily 20SMA and Tenkan-sen line. Appearance of daily MACD bullish divergence is supportive for fresh attempts higher, with sustained break above 1.25 hurdle and pivotal 1.2530 high, also bear-trendline, drawn off 1.2884 high, required to shift near-term focus higher and test the upper part of larger 1.2360/1.2597 range. Otherwise, rejection at 1.25 barrier, would increase risk of retesting 1.2417/00 lows and possible return to pivotal 1.2360 support and near-term ****.

Res: 1.2480; 1.2505; 1.2530; 1.2566

Sup: 1.2451; 1.2430; 1.2400; 1.2360

Cable rallied strongly yesterday after brief probe below 1.5590 ****. Bounce to 1.5761, near Fibonacci 76.4% retracement of 1.5823/1.5583 descend, was capped by descending daily 20SMA, which, for now, keeps pivotal 1.5800/23 barriers intact and downside risk in play. Hourly technicals are still positive and need to hold above 1.5700, session low, reinforced by daily Tenkan-sen line / 10 SMA, to keep the upside in focus, as 4-hour studies are neutral. Sustained break below 1.57 handle to increase risk of return to 1.5590 ****, otherwise, fresh upside attempts will remain on the table, however, limited action is expected while 1.5823 breakpoint stays intact.

Res: 1.5761; 1.5800; 1.5823; 1.5856

Sup: 1.5700; 1.5672; 1.5651; 1.5625

The pair shows positive signals, as recovery rally from yesterday’s pullback’s low at 117.85 accelerated and probes above 118.63, Fibonacci 61.8% of 119.12/117.85 descend. The pullback was contained by rising daily 10SMA / Tenkan-sen line, which keeps the structure positive, despite yesterday’s close in red, after the price cracked psychological 119 barrier. Hourly indicators are moving into positive territory, which, along with positive 4-hour studies, keeps focus at the upper targets and keeps near-term correction floor and pivotal support, intact. Break above 119.12 high to expose psychological 120 barrier, also Fibonacci 61.8% retracement of multi-year 147.68/75.55 descend.

Res: 118.82; 119.12; 119.50; 120.00

Sup: 118.50; 118.21; 118.00; 117.85

AUDUSDThe pair enters near-term corrective phase off yesterday’s fresh low 0.8415. Rally filled yesterday’s gap lower and tested pivotal barrier at 0.8538, last Friday’s high and Fibonacci 61.8% retracement of 0.8613/0.8415 downleg, break of which to spark further recovery and open 0.8613 breakpoint, 27 Nov high / daily 20SMA. Yesterday’s positive close, signals consolidation of the latest weakness from 0.88 zone, as immediate downside risk is sidelined. However, overall picture remains bearish and keeps the downside attempts favored, but bears may be further delayed in case of clearance of pivotal 0.8613 barrier.

Res: 0.8540; 0.8567; 0.8600; 0.8613
Sup: 0.8500; 0.8468; 0.8415; 0.8400

The Euro remains under pressure, as yesterday’s fresh weakness left lower top at 1.2505 and subsequent acceleration lower fully retraced corrective rally and broke below 1.2360 ****. Yesterday’s long red candle, with negative technicals on all timeframes, favors further downside, as the pair met its next target at 1.2325, Fibonacci 161.8% expansion of the wave from 1.2505 lower top. Psychological 1.23 support offers immediate support, with near-term focus at

break and close below pivotal 1.2360 support, to extend the wave from 1.2505 lower top, towards 1.2325, its Fibonacci 161.8% expansion and psychological 1.23 support, with focus at 1.2106, trendline support and 1.2042, July 2012 low. Daily 10/200SMA’s bear cross at 1.2450 should cap extended corrective rallies.

Res: 1.2390; 1.2418; 1.2450; 1.2475

Sup: 1.2321; 1.2300; 1.2284; 1.2250

Near-term structure is negatively aligned, after corrective rally was capped by descending daily 20SMA at 1.5761 and fresh weakness pushed the price in the lower part of near-term 1.5590/1.5823 range. Yesterday’s close in red and below 1.57 handle, daily Tenkan-sen line / 10SMA, confirms near-term bearish stance and eyes 1.5590 **** for retest. Break here to confirm an end of consolidative phase and resumption of larger downtrend, towards target at 1.5373, Fibonacci 76.4% of 1.4812/1.7189 ascend. Rallies should be ideally capped at 1.5700/23 barriers, Tenkan-sen line, 20SMA, while only sustained break above 1.5761 would neutralize immediate downside risk.

Res: 1.5668; 1.5700; 1.5723; 1.5761

Sup: 1.5617; 1.5590; 1.5550; 1.5500

The pair remains supported, as extension of recovery rally from Monday’s corrective low eventually broke above 119 barrier. Near-term price action is consolidating above 119, now support, for final push towards targets at 120.00/12, psychological barrier / Fibonacci 61.8% retracement of multi-year 147.68/75.55 descend. Yesterday’s positive close supports the notion, with price action being supported by rising daily 10SMA / Tenkan-sen line at 118.30, where stronger corrective actions should be contained.

Res: 119.42; 119.61; 120.00; 112.12

Sup: 119.11; 118.80; 118.45; 118.30

AUDUSDThe pair remains under pressure and continues to trend lower, as overnight’s acceleration eventually broke below 0.84 support. Yesterday’s red candle with long upper shadow, confirms downside pressure, with the wave from 0.8794, 17 Nov lower top, capable to travel to 0.8268 and 0.8174, its 138.2% and 161.8% Fibonacci expansion, with psychological 0.8000 support being in short-term focus. Session high at 0.8465, offers strong resistance, with Monday / yesterday’s highs at 0.8530/40, seen capping stronger rallies.

Res: 0.8431; 0.8465; 0.8500; 0.8540
Sup: 0.8386; 0.8350, 0.8315; 0.8300

The Euro stabilizes above 1.23 handle, extending corrective rally from fresh low at 1.2244. Yesterday’s positive close suggests further near-term recovery, following higher low formation at 1.2290. Next strong barriers lay at 1.2360, former **** and 1.2390 lower platform, reinforced by daily descending 10SMA, clearance of which is required to improve still negative 4-hour structure, for possible attack at pivotal 1.2435/55 barriers, daily 20SMA / 04 Dec lower top. However, overall picture remains bearish and sees limited corrective action, ideally to be capped under 1.24 handle, before fresh attempts lower.

Res: 1.2360; 1.2390; 1.2435; 1.2455

Sup: 1.2290; 1.2270; 1.2244; 1.2200

Cable trades in near-term corrective phase off yesterday’s fresh low at 1.5539, with dynamic barriers of daily 10 / 20 SMA’s / Tenkan-sen line, also yesterday’s high, at 1.5680, being tested. Near-term technicals are gaining traction, however, daily close above pivotal 1.5680 barrier, is required to confirm resumption of near-term bulls for further recovery. Lower tops at 1.5720 and 1.5761, also Fibonacci 61.8% / 76.4% of 1.5823/1.5539 downleg, offer resistances, ahead of pivotal 1.5823, 27 Dec high. Alternatively, downside pressure is expected to increase, if 20SMA stays intact.

Res: 1.5680; 1.5720; 1.5761; 1.5800

Sup: 1.5624; 1.5600; 1.5577; 1.5539

The pair corrects last week’s acceleration, which peaked at 121.83, with extended pullback, probing below psychological 120 support. Dark Cloud Cover pattern formation, signals corrective action, as daily RSI starts to reverse from overbought territory and the price approaches significant supports at 119.52/32, daily Tenkan-sen line / 10SMA. Close below here to confirm near-term correction and open 119.00, previous peak / Fibonacci 61.8% of 117.22/121.83 ascend, with pivotal support at 117.22, 27 Nov higher low, expected to come in near-term focus. Conversely, bounce through 121 lower top, to sideline immediate downside risk.

Res: 120.20; 120.50; 121.00; 121.30

Sup: 119.52; 119.32; 119.00; 118.56

AUDUSDThe pair remains under pressure and extended descend close to psychological 0.8200 barrier, after leaving a lower platform at 0.83 zone. The pair travels on extended third wave from 0.8794, which now focuses 0.8178, its 161.8% Fibonacci expansion, with psychological 0.8000 support, coming in near-term focus. Overall negative structure favors further downside, however, oversold larger timeframe’s studies suggest corrective action in the near term.

Res: 0.8314; 0.8354; 0.8415; 0.8465
Sup: 0.8222, 0.8200; 0.8178; 0.8122

Last Friday’s positive close above daily 20SMA, maintains positive near-term tone, with price action trading in prolonged consolidation, being for now capped under initial barrier at 1.2500. Positive weekly close also favors further upside, as bounce from 1.2360 higher ****, keeps pivotal 1.2500/30 points in focus and near-term price action trading in the upper part of 1.2360/1.2493 congestion. Eventual break above 1.2530, to open key near-term barrier at 1.2597, 19 Nov high and signal stronger recovery on a break. However, daily studies are still weak and suggest further consolidation, while 1.25 barrier caps. Key near-term support lies at 1.2360 and break here expected to turn near-term picture bearish.

Res: 1.2476; 1.2493; 1.2505; 1.2530

Sup: 1.2432; 1.2400; 1.2382; 1.2368

Cable maintains positive near-term tone and attempts at congestion tops at 1.5755, where daily Kijun-sen line reinforces barrier. Daily studies are mixed, however, bullish signal was given by positive weekly close. Break above initial 1.5755/61 barriers, is required to open key 1.5823 resistance, high of 27 Nov, above which, to trigger stronger recovery. Initial support and range floor lies at 1.57 zone and is reinforced by daily 20SMA, with break here expected to sideline upside attempts, for pullback towards pivotal support at 1.5650 zone, higher **** and 50% retracement of 1.5539/1.5755 rally.

Res: 1.5755; 1.5761; 1.5800; 1.5823

Sup: 1.5700; 1.5681; 1.5650; 1.5624

Near-term tone is neutral/negative, with price action holding within a narrow range and last Friday’s Doji, confirming near-term indecision. On the other side, weekly bearish Engulfing, could be seen as initial signal for further reversal, which requires of initial supports at 117.82 , daily Kijun-sen line and 117.43/22 lows, to spark further weakness. Conversely, break above consolidation top, reinforced by daily Tenkan-sen line, would sideline immediate downside risk.

Res: 119.05; 119.54; 119.90; 120.15

Sup: 118.00; 117.76; 117.43; 117.22

AUDUSDNear-term tone remains negative, as the pair completed 0.8222/0.8373 consolidative phase and probed psychological 0.82 support. Negative daily/weekly closes, keep the downside under pressure and favor resumption of larger downtrend, which is focusing 0.8000/0.7945, psychological support / Fibonacci 61.8% retracement of multi-year 0.6007/1.1079 rally. Initial barrier lies at 0.8300 while only break above 0.8373 correction high, would sideline downside pressure.

Res: 0.8280; 0.8300; 0.8340; 0.8373
Sup: 0.8200; 0.8150; 0.8100; 0.8050