As the British pound has fallen again after brief recovery on massive risk aversion, suggesting recent decline from 1.6304 top is still in progress and below intra-day support at 1.5732 would extend weakness towards 1.5700, however, loss of near term momentum should prevent sharp fall below 1.5670-75 and reckon 1.5634 minor support would hold from here.

Although euro has resumed recent decline after meeting renewed selling interests just below the Ichimoku cloud bottom and weakness to 1.2640 is likely, loss of near term downward momentum should prevent sharp fall below previous chart support at 1.2624 and risk from there has increased for a corrective rebound later. Above intra-day resistance at 1.2708 would bring test of the lower Kumo (now at 1.2725) but renewed selling interests should emerge around previous resistance at 1.2759) and bring another decline.

Yesterday’s selloff together with the breach of previous support at 79.43 suggests early decline has resumed and near term downside risk remains for further weakness towards 79.00, however, loss of near term downward momentum should prevent sharp fall below 78.70/75 and reckon 78.50 would hold from here, risk from there is seen for a corrective rebound to take place later.

Despite intra-day marginal rise to 0.9481, lack of follow through buying on the break of previous resistance at 0.9471 and current retreat suggest consolidation would be seen and pullback to the Ichimoku cloud top (now at 0.9426), then 0.9415 (intra-day support) cannot be ruled out, however, previous resistance at 0.9372 should limit downside and bring another rise later. A break of said resistance at 0.9481 would extend recent upmove to 0.9500-05

Although intra-day selloff suggests recent decline from 1.6304 top is still in progress, near term loss of momentum should limit downside and expect 1.5790 (2.618 times projection of 1.6182 to 1.6051 measuring from 1.6124) to hold, bring rebound later, above the Tenkan-Sen (now at 1.5859) would bring test of the Kijun-Sen (now at 1.5873) but break there is needed to signal an intra-day low is formed

Despite intra-day marginal fall to 1.2667, lack of follow through selling on break of previous support at 1.2682 and current rebound suggest consolidation would be seen and test of 1.2743-49 (current level of the Ichimoku cloud bottom and intra-day high), then towards the upper Kumo (now at 1.2779) but renewed selling interests should emerge below previous support at 1.2814 and bring another decline.

Dollar’s intra-day selloff in part due to the release of much weaker-than-expected U.S. data has dampened our bullishness and current breach of support at 79.68 suggests the rebound from 79.43 has ended and weakness to this level cannot be ruled out, however, break there is needed to turn outlook bearish and extend early decline to 79.25 and possibly towards 79.00.

Despite intra-day marginal rise to 0.9481, lack of follow through buying on the break of previous resistance at 0.9471 and current retreat suggest consolidation would be seen and pullback to the Ichimoku cloud top (now at 0.9426), then 0.9415 (intra-day support) cannot be ruled out, however, previous resistance at 0.9372 should limit downside and bring another rise later. A break of said resistance at 0.9481 would extend recent upmove to 0.9500-05

Although intra-day selloff suggests recent decline from 1.6304 top is still in progress, near term loss of momentum should limit downside and expect 1.5790 (2.618 times projection of 1.6182 to 1.6051 measuring from 1.6124) to hold, bring rebound later, above the Tenkan-Sen (now at 1.5859) would bring test of the Kijun-Sen (now at 1.5873) but break there is needed to signal an intra-day low is formed, bring retracement to 1.5933

Although the single currency has fallen below yesterday’s low of 1.2682, loss of near term downward momentum should prevent sharp fall below 1.2650 and recent low of 1.2624 is likely to hold form here, risk from there is seen for a strong rebound later. Above the Kijun-Sen (now at 1.2713) would bring retracement to the Ichimoku cloud bottom (now at 1.2742) and possibly the upper Kumo (now at 1.2787) but previous support at 1.2814 would limit upside and bring another decline later.

Despite yesterday’s anticipated rise to 80.56, the subsequent retreat after faltering below indicated previous resistance at 80.61 suggests consolidation would be seen and retracement to the Ichimoku cloud bottom (now at 80.09) cannot be ruled out but renewed buying interests should emerge below 80.00, bring another rise later. A break of said resistance at 80.61 would extend the rise from 79.43 low for a stronger retracement of recent decline to previous support at 80.86

As the greenback has retreated after rising to a 4-month high of 0.9471, suggesting minor consolidation would be seen and test of 0.9400 is likely, however, previous resistance at 0.9372 should limit downside and bring another rise later. A break of said resistance would extend recent upmove to 0.9500-05 (1.236 times projection of 0.8931-0.9335 measuring from 0.9002), however, near term overbought condition should limit upside to 0.9540-50

Although cable has fallen after faltering below the Kijun-Sen and recent decline from 1.6304 may extend further weakness to indicated dynamic support at 1.5871 (61.8% Fibonacci retracement of 1.5603-1.6304), then 1.5850, near term loss of momentum should limit downside to 1.5800-10 and risk from there is seen for a rebound later. Above 1.5932-33 (current level of the Kijun-Sen and intra-day resistance) would suggest a minor low is formed and bring retracement to 1.5950

Euro’s rebound after yesterday’s fall to 1.2682 suggests consolidation would be seen and retracement to 1.2770-80 is likely, however, previous support at 1.2814 would limit upside and bring another decline later. Below said support would extend recent decline towards 1.2650 but near term oversold condition should limit downside to recent low of 1.2624 and risk from there is seen for a strong rebound later.

Despite yesterday’s anticipated rise to 80.56, the subsequent retreat after faltering below indicated previous resistance at 80.61 suggests consolidation would be seen and retracement to the Ichimoku cloud bottom (now at 80.07) cannot be ruled out but renewed buying interests should emerge below 80.00, bring another rise later. A break of said resistance at 80.61 would extend the rise from 79.43 low for a stronger retracement of recent decline to previous support at 80.86

As the greenback has retreated after rising to a 4-month high of 0.9471, suggesting minor consolidation would be seen and test of 0.9400 is likely, however, previous resistance at 0.9372 should limit downside and bring another rise later. A break of said resistance would extend recent upmove to 0.9500-05 (1.236 times projection of 0.8931-0.9335 measuring from 0.9002), however, near term overbought condition should limit upside to 0.9540-50

As cable has rebounded after yesterday’s selloff to 1.5889, suggesting a minor low is formed and consolidation would be seen and test of the Kijun-Sen (now at 1.5938) is likely, however, upside should be limited to yesterday’s high of 1.5997 and renewed selling interests should emerge around 1.6005-10 (50% Fibonacci retracement of 1.6124-1.5889) and bring another decline.

As the single currency has rebounded after yesterday’s fall to 1.2682, suggesting consolidation would be seen and retracement to 1.2770-80 is likely, however, previous support at 1.2814 would limit upside and bring another decline later. Below said support would extend recent decline towards 1.2650, however, near term oversold condition should limit downside to recent low of 1.2624 and risk from there is seen for a strong rebound later.

Despite yesterday’s anticipated rise to 80.56, the subsequent retreat after faltering below indicated previous resistance at 80.61 suggests consolidation would be seen and correction to the Ichimoku cloud bottom (now at 80.07) cannot be ruled out but renewed buying interests should emerge below 80.00, bring another rise later. A break of said resistance at 80.61 would extend the rise from 79.43 low for a stronger retracement of recent decline to previous support at 80.86