The following are the intraday outlooks for EUR/USD, EUR/JPY, and AUD/NZD as provided by the technical strategy team at SEB Group.
EUR/USD: Weak directional clues inside range. Yesterday's downside attempt was by the end of the day rejected and the marked closed at mid-range, near opening levels. A move outside at least 1.0655 or 10830 is needed to show some kind of near-term tilt. Additional lower refs to keep an eye on, should the market decide to go for another downside probe, are located at 1.0625 & 1.0575.
EUR/JPY: Eyes open for a 127.45-128.80 break. Sellers take advantage of dynamic resistance at the 21day 'Kijun-Sen' (128.80), while buyers get encouraged by support at the faster 8day 'Teknan-Sen' (127.45). One has to give way for a fresh directional cue. The trend is down, so one possibility is a false brek higher which lures breakout bulls to the market, but the move fades ahead of trendline resistance not far above and those longs have to take their chips off the table again and instead fuel the backdrop downtrend back to/below 126.08.
AUD/NZD: A double bottom? The rebound from a higher low certainly raises the question whether a double bottom now has been put in lace or now. In the large picture such a development would fit very well as the decline now should be in the very latter stages of the decline from 2011. To maintain short-term positive momentum the market shouldn't back below 1.0069. Breaking above 1.0168 will enhance a bullish case.
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