Maintains near-term positive tone off last Friday’s low at 1.2641, as yesterday’s dip was contained above important 1.2700 level. Fresh gains above 1.2800 and previous high at 1.2811, see potential for further retracement and test of strong resistance zone at 1.2900/15, with break above initial dynamic barrier of 55 day EMA at 1.2830 required. However, overall bearish tone still keeps the downside vulnerable. Immediate supports lie at 1.2780, overnight’s low and 1.2770, trendline support, while loss of 1.2724, yesterday’s low, would weaken the near-term structure.

Res: 1.2780, 1.2800, 1.2811, 1.2868
Sup: 1.2781, 1.2750, 1.2724, 1.2700

The near-term price action moves in a sideways mode, trading within narrow 1.5780/1.5840 range, with no much prospect seen for stronger recovery. Hourly studies are neutral, while 4H chart indicators pointing higher, but still in the negative territory. Daily studies hold bearish tone, as the pair remains limited at 200 day MA and Ichimoku cloud base. Break below initial support at 1.5780 to signal fresh weakness and possible return to 1.5731, ahead of more significant 1.5700 support. On the upside, only regain of 1.5900 and 1.5950, Fib 38.2% of 1.6300.1.5731, would improve current picture.

Res: 1.5840, 1.5865, 1.5889, 1.5900
Sup: 1.5800, 1.5780, 1.5731, 1.5700

The pair is attempting above past two days consolidation range that followed last week’s sharp slide to 79.00. Trendline resistance at 79.80 comes as first barrier, with regain of strong resistance at 80.00, also Fib 61.8% of 80.54/79.00 downleg, required to confirm near-term base. Hourly studies remain supportive, however, negative structure on a daily chart keeps the downside pressure and unless key barrier at 80.60 is cleared, current action would be seen as corrective and preceding fresh weakness. Strong support lies at 79.00, ahead of 200 day MA at 78.50.

Res: 79.60, 79.80, 80.00, 80.54
Sup: 79.23, 79.00, 78.50, 78.30

Extends the near-term corrective pullback off 0.9500, last Friday’s peak that was triggered by overbought short-term studies. The pair has so far reached 0.9360 zone, where 55 day EMA offers support, however, weak hourly studies see potential for further easing and test of important supports at 0.9324, Fib 38.2% of 0.9041/0.9500 and psychological 0.9300 level. As larger picture keeps bulls still in play, reversal at/above 0.9300 would be ideal for resumption of short-term uptrend, with clearance of 0.9500 to open 0.9545 and yearly peak at 0.9593. Loss of 0.9300 would delay.

Res: 0.9394, 0.9420, 0.9444, 0.9480
Sup: 0.9366, 0.9330, 0.9324, 0.9300