Daily Technical Report: Major And Cross Currencies - June 13, 2013

EUR/USD - European Session
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The pair managed to stabilize above 61.8% correction at 1.3340 which might extend bullishness toward 1.3505. Trading above 1.3225 levels keeps the general positivity valid, but today 's stability above 1.3340 keeps the intraday bullish outlook intact.

The trading range for today is among the key support at 1.3225, and key resistance at 1.3505.

The general trend over short term basis is to the upside, targeting 1.3600 as far as areas of 1.2970 remain intact.

GBP/USD
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The upside move extended benefiting from stability above 1.5605 levels, which is positive and might uphold the upside move. 1.5680 is our intraday interval, and stability above it might support this bullish move and negate overbought signals on momentum indicators.

The trading range for today is among key support at 1.5535, and key resistance at 1.5825.

The general trend over short term basis is to the upside as far as areas of 1.5150 remain intact, targeting 1.5975.

USD/JPY
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The pair dropped sharply yesterday and failed to stabilize above 95.50, as stability below supports the bearishness extension. Linear Regression Indicators support our outlook, and momentum indicators do not offer any positive signals despite approaching oversold areas.

The trading range for today is among key support at 92.30, and key resistance at 96.35.

The general trend over short term basis is to the downside, as far as areas of 103.50 remain intact, targeting 93.50.

USD/CAD
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The pair failed once again to exit the trading range between 50% and 61.8% correction at 1.0215 and 1.0165. Stability between those levels forces us to be neutral again, whereas the pair should confirm trading outside the range before determining the intraday trend.

The trading range for today is between the key support at 1.0100, and key resistance at 1.0270.

The general trend over short term basis is to the upside, with steady daily closing above levels 0.9800 targeting 1.0485.

USD/CHF
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The pair dropped again and is trading below bottom C of the AB=CD bearish harmonic Pattern. Based on harmonic analysis, stability below this level at 0.9210 might extend the downside move. The pattern's upcoming targets reside at 0.9125 followed by 0.9035 levels.

The trading range for today is among key support at 0.9035, and key resistance at 0.9245.

The general trend over short term basis is to the downside, stable at levels 0.9775 targeting 0.8860.

AUD/USD
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The AUD/USD pair is trading positively since it confirmed stability above 0.9360, and failed to break it today. The pair is also trading above linear regression indicators which are now less inclined to the downside, while momentum indicators reflect a downside bias. As a result, we believe the AUD/USD is attempting to steady above 0.9540 to commence a bullish correction in the upcoming stage.

Expected trading range today is between the key support at 0.9360, and key resistance 0.9650.

Short-term trend is donwside targeting 0.9000 if 1.0000 remains intact.

NZD/USD
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The NZD/USD pair settled above 0.7920 - a position we consider positive, capable of carrying the pair into a bullish wave. Linear regression indicators are positive, encouraging us to expect positivity.

Expected trading range today is between the key support at 0.7800 and the key resistance 0.8065.

Short-term trend is downside, targeting 0.7715 if 0.8400 remains intact.