The following are the intraday outlooks for EUR/USD, USD/JPY, NZD/USD and USD/CAD as provided by the technical strategy team at SEB Group.
EUR/USD: Forced to alter the game plan. The move through resistance at 1.0870 and the high session close added a bullish print hard to ignore. With fresh mid body support at 1.0879, near-term bulls should be inspired to at least test resistance at the lower end of the "Cloud" at 1.0994. If not stopping there a short-term descending trendline, now at 1.1105 would also deserve some attention. Current intraday stretches are located at 1.0830 & 1.0995.
USD/JPY: Bearish candle added. Key resistance was violated by a mere pip before selling kicked in. The low and bearish looking session close shows high-level supply likely to linger on. Also under 123.52 would break both a 23.6% Fibo retracement ref and the high end of the "Cloud" and thus point lower still - then with a near-term target at 122.93 to fill. Current intraday stretches are located at 123.00 & 124.85.
NZD/USD: Resistance at 0.6711\72 in mind. Bullish price action of late is near-term opposing the prevailing backdrop downtrend. Time spent over resistance at 0.6625\55 would correctively attraction/resistance at 0.6711\55\72. Current intraday stretches are located at 0.6560 & 0.6670. Don't forget the RBNZ rate decision due after markets close tonight.
USD/CAD: Near-term bearish footprint. The bearish candle added yesterday with a long-term key ref not fat above it at 1.3066 posts a modest near-term downside threat and more so on loss of supports at 1.2937/28 and at 1.2918/05. A lower break would target 1.2855/20 before up again. Back over 1.3013 would resume the uptrend.
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