The following are the intraday outlooks for EUR/USD, USD/JPY, GBP/USD, and AUD/USD as provided by the technical strategy team at SEB Group.
EUR/USD: Correction higher consolidation. The 1.3375-50 target/support zone still attracts some buying. If this is a correction for 1.3415-50 or if it is a near-term contracting range before breaking into the lower 1.33s once it is over remains to be seen. For today it looks wise to watch both 1.3360 & 1.3405 for clues.
USD/JPY: A high weekly close would target 104. The best bullish week since earl Mar could be in the making, that is if sticking close to current levels or higher today. Id so, the early Apr high of 104.10 would end up in focus - over which a fresh high beyond 105.45 could be expected. For today local support is fund at 102.70 while resistance remains at 103.00-103.10.
GBP/USD: Medium-term support exposed. The move lower got some legs now. This is a minor ref at 1.6845 to be observed as it could provide some support, but if taken out, or if there is a low weekly close coming, an an ascending line of support should be broken and dynamic support at the 21week 'Kijun-Sen' at 1.6825 would become exposed - which if broken would target 1.67 next. Initial resistance is located at 1.6890 - possibly enough to keep a more important ref at 1.6925 unharmed.
AUD/USD: May low is back in sigh. Yesterday's drop below support at prior lows around the 0.9325 level threatens to exceed at short-term 'Equality point' at market. If so players should start looking for an extension towards the May low of 0.9210. Resistance is now likely around prior support at 0.9325.
