EUR/USD - European Session
The pair traded with downside bias, and now below 1.3665 and this support that turned now into resistance will keep the downside pressure valid, targeting initially 1.3520 at 38.2% correction.
Only a breach of 1.3700 will weaken our positive expectations, while a breach of 1.3750 will fail our expectations.
GBP/USD - European Session
The pair failed yesterday to breach 1.6920-30 areas and returned to the downside. The failure to breach higher is considered negative over intraday basis and might pressure a new downside attempt today, especially as trading is stable below Linear Regression Indicators.
Only a breach of 1.6930 fails the bearish outlook, but will only be confirmed with a break below 1.6820 to confirm the downside move and revive negativity on MACD and AROON that offer strong bearish signals.
USD/JPY - European Session
USD/JPY failed to hold below 101.30 main support area, forming a major bullish long legged candle, with a major lower shadow, and hinting a potential bullish rebound. Holding above 100.70 keeps the bullish bias intact, targeting 102.00 and 103.00 levels.
USD/CHF - European Session
USD/CHF is pushing towards 0.8950 resistance level, which is the neckline of the major bullish double bottom pattern, a breakout above that resistance would signal major bullish reversal, targeting 0.8950 as an initial upside target. Overall holding below that resistance keeps the potential for a move lower, but we prefer to wait for confirmation over the lower time intervals today.
USD/CAD - European Session
USD/CAD moved slightly lower, but continues to consolidate in sideways bias below 1.0940 resistance level, and that keeps the bearish bias intact, where we continue to target areas near the 200-days SMA around 1.0730 as long as price is stable below 1.0940. A break above 1.0940, will call for more upside targeting 1.1050 levels.
AUD/USD - European Session
The AUD/USD continues to hover above 0.9200 horizontal support which is a key neckline for a double bottom pattern, if broken may extend the bearish move further. This sensitive area forces us to move to the sidelines, awaiting a clear confirmation, where only a break above the 50-days SMA and 0.9270 resistance would signal a bullish rebound.
NZD/USD - European Session
NZD/USD continues to hover below the broken support at 0.8600 level, which keeps the bearish bias intact, as price trades within a sideways bias among 0.87040-0.8500 key level, where the next target is possibly at the bottom of the range at 0.8500 next main support. Holding below 0.8600 should keep the bearish bias dominant.
