EUR/USD: Now targeting 1.3324/295
The euro is back on its losing streak as the chance of correction disappeared on the break below 1.3378. A 261.8% Fibo projection ref at 1.3378 and a Q4'13 low of 1.3295 is the next target zone. Below a short-term stretch is currently not kicking in until 1.3265. Primary resistance is located at yesterday's mid-body point at 1.3400 and the current intraday stretches are located at 1.3330 & 1.3425.
EUR/JPY: Targeting 136.65 next
Earlier the advance was capped by the descending 55day moving average band (now at 137.95/138.55). The pair slipped below support at 137.31/25 yesterday and closed low enough to show sellers' near-term initiative. This brings focus back on the Jul28 low of 136.65 and last month's low of 136.37. Resistance is likely building fast around 137.45.
USD/CAD: Stretched now, targeting 1.1053 later
The move higher is paced. Short- medium and long- term trend-following tools are in positive positions. The fast ascending Fibo-adjusted 8day 'Tenkan-Sen- marks dynamic support, now at 1.0885. A short-term 161.8% Fibo projection ref at 1.0991 could be tested, but then the short-term stretch should be vented enough through consolidation/ soft correction - before extending gains towards the next target at the Apr23 high of 1.1053.
AUD/USD: Resuming the decline
After yesterday's bearish candle, the key day reversal, we think that is fair to call for an end to the recent upward reaction and to resume the underlying descent to 0.92. Minor up tics will probably be limited to the 0.9307/14 area. 