EUR/USD
By examening the four-hour interval graph, we notice that the bearish resistance on graph managed to halt all the bullish attempts this week, which would be confirmed by confirming a break below 1.3520.
We expected positivity yesterday based on stabilizing above 38.2% correction represented in the support 1.3520, but we will cancel these expectations after failing to breach the resistance and bet on a downside move after breaking 1.3520 and stabilizing below it.
GBP/USD
The pair failed yesterday to trade above the psychological barrier 1.7000, meanwhile, the pair failed to break the support 1.6930 levels. Therefore, trading is limited between these levels, on one hand, a technical contradiction from the Falling Wedge candle that was formed on Monday, on the other hand, the positivity of Linear Regression Indicators and failing to breach the psychological barrier.
AROON Indicator is showing weakness in the bullish strength, and MACD Indicator is still positive. But we cannot be positive today in light of the continuous failure to breach 1.7000 levels, in addition to the referred to negative candle.
USD/JPY
The pair moved slightly to the upside yesterday and today and stabilized above EMA 50 and 100 showing on the daily graph, also accompanied by RSI breaching line 50 to the upside as Stochastic is trading in a bullish bias.
Therefore, the possibility of extending the upside move is valid today as long as the pair is stable above 101.60 intraday today and above 100.80. A break above 102.75 with a daily closing indicates another bullish wave.
USD/CHF
The USD/CHF moved higher yesterday, after testing the 200-days SMA support, but maintains the short term consolidation bias above 0.8950 level, which keeps the bullish scenario favored, as price remains above the neckline for the double bottom pattern at 0.8950. Upside targets at 0.9050 potential resistance, followed by 0.9150.
USD/CAD
The USD/CAD moved higher yesterday, approaching the intraday resistance at 1.0880 level, which should remains intact for the intraday bearish bias to remain favored, a break above 1.0880 will probably send the pair higher towards the top of the short term sideways range at 1.0940 key resistance. For now, we prefer to move to the sidelines and monitor price action around 1.0880 area.
AUD/USD
The AUD/USD extended the downside move retesting the key short-term support level at the 50-days SMA and 0.9330 level, which may push price to correct some of yesterdays major losses and move higher over intraday basis, however the upside may be limited to 0.9375 resistance level. Alternatively, a break with stability below 0.9330 will probably signal more downside targeting 0.9250 and 0.9200 levels.
NZD/USD
The NZD/USD continues to hover in narrow consolidation range, above the intraday key support at 0.8650, which keeps the bullish intraday bias intact, as price could be forming a minor bullish continuation flag pattern. Therefore, the bullish scenario remains favored for today. Alternatively, a break below 0.8650 may extend the bearish correction to 0.8590.
