EUR/USD" width="1596" height="746">The pair managed to move to the upside and is currently stable above Linear Regression Indicator 34 and 55 supporting the possibility of extending the upside move. Trading above 1.3385 is now positive, and testing levels above the previous top 1.3416 support this technical outlook.
The trading range for today is among the key support at 1.3300 and key resistance at 1.3545.
The general trend over short term basis is sideways targeting 1.2775 as far as 1.3600 is daily-closing.
GBP/USD
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By examining the daily graph of the pair, we notice that yesterday’s candle opened and closed above 1.5645 represented in 88.6% correction. The referred to candle forces us to expect further bullishness, especially as the Linear Regression Indicators tend to be positive. Despite the overbought signals, stability above 1.5465 supports the possibility of extending positivity, so we will ignore these signals.
The trading range for today is among key support at 1.5500 and key resistance at 1.5800.
The general trend over short term basis is to the upside as far as areas of 1.5100 remains intact targeting 1.6010.
USD/JPY
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The pair is currently retesting 50% correction at 97.65 levels, as it proved holding on to the sideways range dominating it from a week. We will count on stabilizing below 97.65 and Linear Regression Indicator 55 to keep our negative outlook. In our expectations we count on the descending channel that dominated trading since the top at 101.53.
The trading range for today is among key support at 95.40 and key resistance at 98.80
The general trend over short term basis is to the downside as far as areas of 103.50 remain intact targeting 93.50.
USD/CHF
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By examining the daily graph of the pair, we notice a break of the ascending support. Stability below 0.9205 levels forces us to think that there is a possibility of extending the downside move, as the first suggested target now is 0.9050 represented in a 113% correction from the bullish wave starting from 0.9132 reaching 0.9753 levels.
The trading range for today is among key support at 0.9050 and key resistance at 0.9265.
The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.
USD/CAD
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The pair is trading around 50% correction at 1.0425 which will be the intraday interval for today. Stability above this level might cause another bullish wave targeting 61.8% correction at 1.0470, as breaching it paves the way for moving to the upside towards 1.0530. Anyhow, trading above 1.0385 will be considered positive today.
The trading range for today is between the key support at 1.0330 and the key resistance at 1.0530.
The general trend over short term basis is to the upside with steady daily closing above levels 1.0100 targeting 1.0775.
AUD/USD
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The pair resumed the bearish bias after completing a retest of 0.9070-0.9080 broken support yesterday, which turned into resistance pushing price back lower in-line with our bearish scenario. Accordingly, so long as this resistance area is holding back bullish attempts the bearish scenario will remain favored. Potential downside targets at 0.9000,0.8970 and 08915.
NZD/USD
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NZD/USD retested 0.7930-0.7900 main support area, at the 50-days SMA, while the bias continues to be strongly bearish, but requires a clear break and stability below this support to confirm further downside.