The following are the intraday outlooks for EUR/USD, USD/JPY, GBP/USD, and NZD/USD as provided by the technical strategy team at SEB Group.
EUR/USD: Should extend losses below 1.34. There is nothing in the dailies nor in the intradailies indicating that buyers are about to grab the initiative. On the contrary, the move lower is orderly and without excesses, so why should they be in a rush to step in? Below 1.3395 would for today target 1.3375-1.3350. First nearby resistance is located at 1.3445 and then comes a stronger area resistance at 1.3475-1.3485.
USD/JPY: Targeting 102.25-102.35 next. With another convincing winner added yesterday, the key resistance zone at 102.25-35 is now fully exposed. Bullishly above would then lift the bar to the Jun6 high of 102.80 First support comes in at yesterday's mid -body point at 102.00 and a stronger area of support is located at 101.95-101.75.
GBP/USD: Challenging dynamic support. The short-term downmove is in play and has come to a point where it challenges a rising, bullish Fibo-adjusted Ichimoku cloud. A sustained move below 1.6930 would set eyes 1.6850-1.6700 next. Decent resistance is located at 1.7000-1.7015.
NZD/USD: The early Jun low is back in sight. With a short-term 'Equality point' passed at 0.8530, unchecked this move could be expanded down to the early Jun low of 0.84 which is very close to a short-term 161.8% Fibo projection ref. Dynamic resistance should effectively hinder any ascent back over 0.8595 and keep a key ref at 0.8720 out of harm's way.
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