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Technical Outlook for Majors 19/09/2014

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 19, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    [​IMG]EURUSD
    The Euro trades in near-term corrective phase off fresh low at 1.2832, posted on sharp fall off 1.30 barrier. The pair holds overall negative tone and keeps the downside in focus, with psychological 1.28 support, seen as immediate target. However, bears may be delayed for further consolidation, with upside attempts being so far capped at 1.2925, near Fibonacci 61.8% of 1.2978/1.2832 descend and only break above pivotal 1.30 barrier, to sideline immediate bears.
    Res: 1.2925; 1.2942; 1.2980; 1.3000
    Sup: 1.2855; 1.2832; 1.2800; 1.2786


    [​IMG]GBPUSD</p>Cable maintains positive near-term tone, with fresh rally off 1.6355, where higher low was left, extending gains above 1.65 barrier. The rally so far retraced over 76.4% of 1.6642/1.6050 downleg, seeing scope for full retracement of the move, which is required to improve daily picture and confirm near-term bottom for further recovery. Corrective pullback from fresh high at 1.6522, on overbought near-term conditions, is underway, with initial support at 1.6410/00 zone, ahead of 1.6384, Fibonacci 38.2% of 1.6159/1.6522 and 1.6355 higher low, which is expected to contain stronger dips.
    Res: 1.6500; 1.6522; 1.6535; 1.6550
    Sup: 1.6410; 1.6384; 1.6355; 1.6300


    [​IMG]USDJPY</p>Bulls remain unobstructed as the pair probes above 109, round-figure barrier, on fresh acceleration from 108.60, hourly higher base. Psychological 110 barrier is in near-term focus, with short-term target at 110.66, Aug 2008 peak, seen in extension. Corrective dips should be ideally contained at 108.60/40 zone, higher base, Fibonacci 38.2% of 106.98/109.42, with further easing below 108 handle, expected to signal stronger correction and delay immediate bulls.
    Res: 109.42; 110.00; 110.66; 111.00
    Sup: 109.00; 108.60; 108.40; 108.00


    [​IMG]AUDUSD
    The pair remains under pressure and holds below 0.90 level, now acting as resistance. Consolidative action of fresh lows at 0.8930 zone, where temporary footstep was found, stays so far capped under 0.90 barrier, which keeps the downside in focus. Near-term technicals maintain negative tone and support the notion of further extension of the downleg from 0.9110 lower top. Loss of 0.8930 handle to open 0.89 next and 0.8857, Fibonacci 76.4% of 0.8658/0.9503 ascend. Any break above 0.90 barrier, would signal extended corrective action and delay immediate bears.
    Res: 0.9000; 0.9040; 0.9079; 0.9110
    Sup: 0.8930; 0.8900; 0.8848; 0.8800
     
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