The following are the intraday outlooks for EUR/USD, USD/JPY, USD/CAD, and NZD/USD as provided by the technical strategy team at SEB Group.
EUR/USD: Waiting game. Direction stalled market in the starting blocks for ECB tomorrow and it's doubtful that a move outside the 1.1530/1.1650 parameters has sustainable chance without Draghi's signal. Current intraday stretches are located at 1.1510 & 1.1625.
USD/JPY: U-turning a target & resistance. Few are willing to play over the odds here...The high-118s worked as the strong resistance it was thought to. If today's U-turn survives the morning session, extension would be likely back to the 116.92 ref - under which a fresh low (<115.84) should be accounted for. Current intraday stretches are located at 117.40 & 119.15.
USD/CAD: Going bid into BoC today. Players apparently put their wagers on a soft message from the BoC later today. A solidly bullish candle broke into and then with targets at 1.2175 & 1.2285 to fill. The intraday stretch could be dealt with through a mid-body (1.2030) re-test. More support likely around 1.1960/25.
NZD/USD: Ready to take a dive? Since the exit of the rising 2012 channel/triangle the market has reluctantly been drifting lower but without much downside progress made. After tonight's lower than expected CPI figures a third test of the important 0.7609/19 support is taking place and if succeeding in breaking and closing below it will most likely kick off a new impulsive down-phase. Such a break could see the pair rapidly dropping down to 0.7371, the confirmation point for the large potential double top formation.
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