EUR/USD" width="1596" height="746">The pair failed to stabilize above Linear Regression Indicator 34 and 55 yesterday which might trigger some bearish correction to test levels around 1.3315 and perhaps 1.3270 in attempt to gain a new bullish momentum. The possible downside move which is considered a normal correction that requires stabilizing below 1.3440, but we will count on 1.3400 levels today as an important intraday interval.
The trading range for today is among the key support at 1.3485 and key resistance at 1.3440.
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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The pair failed to stabilize below 1.5550 reducing the bearish correction strength. Meanwhile, the pair is stable below 1.5605 and 1.5645 keeping the possibility of correction. Therefore, we are currently facing a technical contradiction. Especially that the Stochastic is showing intraday oversold signals. Linear Regression Indicators are positive now and the pair is trading below them, reducing the indicators response to it. Overall, we prefer to remain neutral in this report waiting for conformation signals.
The trading range for today is among the key support at 1.5470 and key resistance at 1.5685.
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 failed to maintain trading above 98.60 taking it to trade within the downside move range shown on graph. Stability below 98.60 might retest 97.65 levels today. Stochastic is showing a negative bias, as RSI is moving to the downside in an attempt to break line 50. Therefore, we expect a downside move today that remains valid by stabilizing below 98.60.
The trading range for today is among key support at 97.05 and key resistance at 99.70.
The general trend over short term basis is to the downside as far as areas of 103.50 remain intact targeting 93.50.
AUD/USD
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The pair retested 0.9070 key pivot yesterday. It found strong resistance and resumed the bearish bias acquiring the downside target at 0.8970 and extending the move lower. A break below the previous low at 0.8930 clears the way towards the major low at 0.8846.
NZD/USD
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The pair resumes the bearish move following yesterday’s retracement, where price remains below the 50-days SMA, and the bearish scenario remains probable, eyeing the bottom of the sideways range near 0.7680. Holding below the average will keep the suggested scenario valid.