EUR/USD

The pair remains in a near-term corrective mode, retracing so far over 23.6% of two-day rally from 1.2294 to 1.2486, yesterday’s fresh seven-week peak. As overall picture maintains positive sentiment, upside targets at 1.2500 zone remain in focus, though still weakening near-term studies, see room for further easing, with good support seen at 1.2415/1.2390 zone. More action to be seen on today’s FOMC minutes and tomorrow’s EU top officials meetings.

Res: 1.2458, 1.2477, 1.2486, 1.2500
Sup: 1.2430, 1.2415, 1.2400, 1.2380

GBP/USD

Cable’s brief break above yesterday’s 1.5803 high, with 1.5816 seen so far, is seen as good signal for further extension, following yesterday’s break above strong med-term barrier at 1.5775 that now acts as support and keeps the near-term price action contained. Despite today’s gains being nearly fully retraced and hourly studies in a descending mode, the pair holds levels near 1.5800, with sustained break here to open 1.5847, ahead of 1.5900. Strong support on hourly chart at 1.5760/40 zone is seen as near-term breakpoint, loss of which would trigger stronger reversal.

Res: 1.5803, 1.5816, 1.5847, 1.5900
Sup: 1.5765, 1.5753, 1.5743, 1.5722

AUD/USD

Short-term reversal off 1.0519, yesterday’s high, has fully retraced the near-term 1.0409/1.0519 ascend. This brings immediate focus at strong support at 1.0400 zone, loss of which to open way for stronger correction of med-term 0.9579/1.0611 uptrend. Negative tone on 1 and 4h chart studies, keeps the downside favored, as slide under 1.0400, would expose static support at 1.0326 ahead of more significant 200 day SMA at 1.0300. Near-term bounce off today’s low at 1.0412, faces though barriers at 1.0450/60 zone, where Fib 38.2% and 50% levels lies, reinforced by descending 20 and 55 day EMA’s and only break here to avert immediate downside risk.

Res : 1.0450, 1.0465, 1.0478, 1.0500
Sup : 1.0409, 1.0400, 1.0326, 1.0300

USD/CAD

Bounce off yesterday’s low at 0.9840 that broke above initial barriers at 0.9900 and 0.9930, with gains retracing over 38.2% of 1.0083/0.9840 downleg at 0.9945, is still seen as corrective action of med-term strong downtrend from 1.0444, 04 June peak. Overextended hourly conditions signal reversal, with good support standing at 0.9900 zone, previous highs / Fib 38.2% of 0.9840/0.9945 ascend, reinforced by ascending 20 day EMA. Any stronger dips should ideally reverse at this area, to keep near-term bulls in play, as studies on 4h chart are still in positive territory, with regain of Fibonacci 61.8% at 0.9990 and parity level, seen as a trigger for stronger recovery.

Res: 0.9945, 0.9961, 0.9990, 1.0000
Sup: 0.9920, 0.9900, 0.9880, 0.9858