The pair is still trading within a tight range, as breaching 1.2585 and stabilizing above it favors extending the upside move targeting 1.2635 and 1.2680. Trading above 1.2555 is positive and support the positive expectations, while a break below 1.2460 threatens to fail the suggested expectations and favros the bearish return.
GBP/USD - European Session
The pair is still below 1.5705 keeping the negative pressure valid, especially that Linear Regression Indicators are still negative and support the possibility of extending the downside move, but we notice that the positivity of RSI and MACD triggered the latest positive attempts. Generally, we wait to move towards 1.5500 then 1.5430 as the main targets unless the pair breaches 1.5705 and stabilize above it.
USD/JPY - Technical Report
The pair dropped and is trading around 117.85 after failing to breach 119.00. Stability above 117.85 is positive supporting the upside move, and favors retesting 119.00, while a break below 116.10 threatens to fail the suggested expectations and favors a bearish wave.
USD/CHF - Technical Report
The pair dropped to trade around 0.9570. Breaking 0.9540 favors extending the downside move targeting 0.9440 and 0.9400, as trading below 0.9580 is negative and support the negative expectations, while a break above 0.9615 threatens to fail the suggested expectations.
USD/CAD - Technical Report
The pair failed to stabilize above 113% correction at 1.1365. Therefore, the pair dropped yesterday nad is trading below Linear Regression Indicator 34 and 55 today. Despite that, the pair is still within the ascending channel and above its key support close to 1.1240 and above 1.1275, keeping a possibility of a new bullish attempt.
Of note, technical indicators are negative which makes stabilizing above 1.1275 significant today to strengthen the bullish possibility, while breaking 1.1240 fails the upside move.
AUD/USD - Technical Report
The pair moved to the upside to trade around 0.8630, despite that, we will keep our suggested expectations of moving to the downside, whereas trading below 0.8650 is negative and support the bearish expectations. Breaking 0.8620 and stabilizing below it favors extending the downside move targeting 0.8540 and 0.8500, while breaching 0.8690 threatens to fail the suggested expectations.
NZD/USD - Technical Report
The pair touched 0.7900 then moved back to the downside indicating that negativity is still valid, especially that trading remained limited below Linear Regression Indicator 55. There is an attempt to achieve positivity on MACD, which pushes the pair to trade below 0.7855.
From the upside, breaching 0.7935 fails the possibility of extending the downisde move intraday today.
