Moves in a near-term corrective mode after extending one-week rally from 1.2622, 13 Jan low, to 1.2984, just ahead of psychological barrier at 1.3000, also Fib 38.2% of 1.3547/1.2622 downleg. Overnight’s gap lower opening signals selling pressure, as gap remains unfilled before Europe’s opening. Hourly studies are negative, with 20 day SMA maintaining near-term weakness. Initial support at 1.2877, previous resistance, so far holds the downside, with break lower to expose next significant support at 1.2840, 19 Jan higher platform / Fib 38.2% of 1.2622/1.2984 ascend, loss of which and 1.2800 handle, to weaken near-term structure. On the upside, initial resistances lie at 1.2900/50, regain of which to re-focus 1.2984/3000 and signal a resumption of short-term uptrend.

Res: 1.2907, 1.2949, 1.2984, 1.3000
Sup: 1.2875, 1.2840, 1.2800, 1.2750


Consolidates recent gains, after clearance of strong resistance at 1.5500, 10 Jan lower top / Fib 61.8% of 1.5668/1.5233 decline, extended gains to levels just under next significant barrier at 1.5600, daily 55 day SMA. Dips are so far holding above hourly 20 day SMA, with further easing towards 1.5500, now reverted to support, not ruled out, as hourly studies are losing traction. Higher low above 1.5500 would signal fresh attempt higher and test of 1.5600, while only loss of breakpoint at 1.5450/40 zone, also Fib 38.2% of 1.5233/1.5572 upleg, would sideline short-term bulls.

Res: 1.5500, 1.5523, 1.5580, 1.5600
Sup: 1.5526, 1.5500, 1.5450, 1.5415


Maintains short-term positive structure after fresh gains broke above initial 77.00 barrier and tested key resistance zone at 77.20/30. Corrective dips remain contained by 20 day SMA, with price hovering at 77.00 level and keeping the near-term focus at 77.30. Break here to trigger stronger rally and expose 77.40, daily 55 day SMA, ahead of next strong resistance zone at 78.00/20. On the downside, loss of 76.90/75 to weaken near-term tone and re-focus key short-term support at 76.50.

Res: 77.07, 77.29, 77.32, 77.40
Sup: 76.90, 76.85, 76.75, 76.65


Near-term price action shows the pair in recovery mode after suffering heavy losses that resulted in test of very important support at 0.9300, where losses were contained for now. Bounce remains supported by 20 day SMA on hourly chart, with today’s gap-higher opening, suggesting further recovery towards next strong barrier at 0.9400, 19 Jan high / Fib 38.2% of 0.9573/0.9304 decline, where reversal is anticipated, as wider picture’s tone remains negative. Loss of 0.9300 to open 0.9242 and 0.9200 next, while sustained break above 0.9400 would signal stronger recovery and expose 0.9445 next.

Res: 0.9376, 0.9400, 0.9413, 0.9445
Sup: 0.9357, 0.9338, 0.9323, 0.9304