The pair continues to travel south after break below 55 day SMA at 1.3080, daily Ichimoku cloud base at 1.3050 and static support at 1.3026, tested psychological support at 1.3000. Basing attempt is seen here, as the price bounces higher. Corrective rally has so far tested 1.3050, initial barrier, ahead of 1.3065, 55 day EMA and yesterday’s high at 1.3080, before bears take control. Main short-target lies at 1.2973, 16 Feb low, with daily studies in the negative territory, keeping the overall bearish tone in play. Only break above 1.3100/20 to offer near-term relief and allow for stronger correction.

Res: 1.3065, 1.3077, 1.3090, 1.3100
Sup: 1.3014, 1.3000, 1.2973, 1.2950

Near-term price action seems to be running out of steam, as upside remains capped at 1.5715, main bear trendline and double top at 1.5745. Brief break below 1.5650 support keeps the downside vulnerable, as near-term studies hold below the midlines. Firm break below 1.5650/35 and test of 1.5600 would be the likely scenario, with break here to signal resumption of short-term downtrend off 1.5990 and expose 1.5500 zone for test. Only lift above 1.5745 would ease bear-pressure and allow test of strong barrier at 1.5800/30.

Res: 1.5700, 1.5715, 1.5745, 1.5800
Sup: 1.5650, 1.5635, 1.5620, 1.5600

Corrects the latest rally that cleared our target at 84.00 and posted fresh high at 84.17, as hourly studies hit extreme levels. Reversal has so far tested initial support at 83.50 zone, with room seen for further easing towards next static support at 83.00, also 20 day EMA, before bulls re-assert, as overall very bullish structure on larger timeframes shows not signal of stronger correction, despite over-extended studies.

Res: 84.00, 84.17, 84.50, 85.00
Sup: 83.50, 83.00, 82.63, 82.50

The pair’s near-term price action is in a corrective mode, after yesterday’s rally through key short-term barrier at 0.9300, posted fresh high at 0.9333, levels last time seen at the end of Jan. Loss of 0.9300 handle looks for test of next significant support at 0.9250, where also 55 day EMA lies, ahead of 0.9200 zone, loss of which to weaken the short-term structure. Daily studies, however, are turning bullish and see potential for further extension of short-term bull-leg off 0.8930 double bottom.

Res: 0.9300, 0.9333, 0.9350, 0.9376
Sup: 0.9250, 0.9220, 0.9200, 0.9187