Technical Outlook for Majors 12/11/2015
 

EURUSD
The Euro continues to trade within three-day 1.0673/1.0788 range, in consolidation mode, following recent weakness. Fresh attempts lower, on completion of consolidative phase are expected, as overall structure remains firmly bearish.
Consolidation was so far capped under psychological 1.08 barrier, former breakpoint, guarding strong resistance zone at 1.0844/63, formed by falling daily 10SMA /Tenkan-sen line, where extended rallies should be capped.
Immediate targets lay at 1.0664/58, 21/24 Apr low, followed by 1.0611, 261.8% Fibonacci expansion of the downleg from 1.1071.
Res: 1.0788; 1.0800; 1.0844; 1.0863
Sup: 1.0732; 1.0700; 1.0673; 1.0658


GBPUSD
Yesterday