EUR/USD
The EUR/USD pair dropped, but remained limited above 1.3780 levels keeping the possibility of a bullish wave. The pair is still trading within the ascending channel showing on graph, as trading above 1.3720 strengthens the bullish possibility.
Stochastic is approaching oversold signals, but the pair has to trade stably again above 1.3800 followed by breaking above 1.3850 again in order to modify the negative signals on RSI.
GBP/USD
The pair faced difficulties in stabilizing above 1.6820 levels, but the bullish wave is still valid. Trading above 1.6695 is positive while stabilizing above 1.6750 strengthens the positive possibility. AROON is still showing the extended upside move, as MACD is trading in a bullish bias while Linear Regression Indicators are also positive.
All the referred to technical catalysts resides within the ascending channel at the main suuport 1.6590, and trading above it strengthens the positive possibility. As for today, we will count on stabilizing above 1.6695 to strengthen the bullish possibility.
USD/JPY
The sideways market is clear on the four-hour chart above, as price hit the bottom of the sideways range at 101.50 areas before bouncing back higher. The USD/JPY is retested 102.70 resistance level, where price forms a long legged doji candle, hinting a potential intraday setback. Indeed, price is retreating of that resistance, where we see further downside over intraday basis for a retest of 102.35 and 102.00 levels. Holding below 102.80 is necessary to keep this bias intact.
USD/CHF
The USD/CHF extended the upside above the 50-days SMA, closing yesterday’s session above the average, confirming our bullish bias, where although we might see intraday pullbacks, we expect the price to remain supported in the near term.
USD/CAD
The USD/CAD maintains the bullish bias, consolidating in a tight range below the 50-days SMA, where price could be heading to retest the broken rising trend line and the 50-days SMA, where holding above 1.0950 keeps the bullish bias favored, although we might see some resistance near the 50-days SMA around 1.1050 level.
AUD/USD
The AUD/USD has broken bearish correctional wave and minor falling channel shown on the four-hour chart above, suggesting a potential bullish rebound and an attempt to resume the bullish trend towards the recently recorded high near 0.9460.
NZD/USD
The pair is bouncing slightly higher with the start of today’s session, however the overall bearish momentum continues to be dominant, and thus we will look for opportunities to short upside pullbacks for now. A break below 0.8500 remains the main bearish reversal confirmation signal. Key intraday resistance is among 0.8625-0.8650 area.
