EUR/USD: We are neutral in the short term and would prefer to fade gains against the 1.1465 range highs. A move below initial targets near 1.1210 would confirm our bearish view towards the 1.1145 range lows and then the 1.1065 area.
USD/JPY: Our bearish view was encouraged by the break below the 107.60 year-to-date lows. Our next targets are near-106.65 and then the 106.10 area.
GBP/USD: We are neutral and look for signs of a top near the 1.4670 range highs to prompt us to turn more bearish. A decisive break above 1.4670 however, would force us to assume a stronger than currently expected corrective rally. For now we are looking for a move back in range towards initial targets near 1.4300.
AUD/USD: A move below 0.7550 would signal lower towards the 0.7475 range lows where we would look for a short-term base and return towards nearby resistance at 0.7765. Breaking below 0.7475 however, would force us to assume a deeper setback.
NZD/USD: We are sticking with our bearish view while resistance near 0.7055 caps. A move below initial targets near 0.6760 would open the 0.6670 area. The break below 1.1025 in AUDNZD has prompted us to abandon our bullish view in the short term. Our greater view is bullish above 1.0495.
USD/CAD: A move below our next downside targets near 1.2510 would point lower towards 1.2125 and then 1.2050/1.1915. Having reached 0.9540 in AUDCAD, we now look lower towards 0.9365.
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