The following are the intraday outlooks for EUR/USD, USD/JPY, AUD/USD, and Brent Crude as provided by the technical strategy team at SEB Group.
EUR/USD: Targeting dynamic resistance (> 1.2530). Players may sit tighter today holding cards close to their chests while waiting for the FOMC verdict today. But correctional forces are in play as spec shorts (IMM) are in the process of reducing their wagers against the euro. There is dynamic support at 1.2425 and dynamic resistance at 1.2530 and outside those 1.2413 & 1.2370 are worth keeping an eye on below and at 1.2602/14 above. Current intraday stretches are located at 1.2435 & 1.2560.
USD/JPY: Buyers at support. The Nov mid-body point a prior reaction low & a short-term 'Equality Point' in the mid/lower-115s attracted bids enough to stem the rout out of longs (into short?), but the climb from there is so far not impressive and resistance at 117.45 and 117.76/78 will be a no mean task to reclaim. Current intraday stretches are located at 116.05 & 117.80.
AUD/USD: Heading into the 2010 low. The short-term trend-channel remains in play. It may offer some (short-lived) support in the lower 0.81's, but with short-term trend-following tools pointing steadily south and providing resistance already at 0.8265, reactions higher are likely to be capped. The next big target below is the 2019 low of 0.8066. Current intraday stretches are located at 0.8150 (at market) & 0.8250.
Brent Crude: Lower levels still likely. Trend-following tools point steadily south and corrections are both short & shallow. The 61.00 re-test yesterday seems to be no exception. Below support in the 59.00/8.50-zone would lower standards to a short-term 127.2& Fibo extension ref at 55.10.
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