The following are the intraday outlooks for EUR/USD, AUD/NZD, EUR//GBP, and EUR/JPY as provided by the technical strategy team at SEB Group.
EUR/USD: Breaking lower for a sub-1.0896 move. The near-term Flag has been constructively broken and the recent 1.0896 low is exposed – under which 1.0876, 1.0847 and the all-important 1.0808 low would become exposed. A loss of the latter would be in a higher tier timeframe perspective signal a later move to and through the cycle low of 1.0457. Current intraday stretches are located at 1.0880 & 1.1045.
AUD/NZD: Abrupt change of sentiment. With buyers at the Sep-Oct Equality point and the earlier wedge broken, there has been a swift chance of short-term sentiment taking place. Yesterday’s bullish benchmark candle has left supports at 1.0740, 1.0695, & 1.0670 in its trail. A short rechecking dip may materialize before extending the current surge deeper into the 1.0825/1,1025 Fibo retracmnet grid. But the move is thought to fade in this are and realign price action with the underlying trend.
EUR/GBP: The Wedge is still in play. The Doji lied but the wedge may still tell the truth of a short-term overextended decline – so focus remains on the descending line of resistance, now at 0.7125. Should it give way, opportunistic buyers would however face more resistance already at 0.7165/0.7200 and further to the north at 0.7250, which is the ideal near-term correctional objective.
EUR/JPY: Another sell signal is coming. With lower and lower highs and lows the past days downside pressure is again mounting. As earlier lined out a break of 132.30 could have rather severe ramifications as selling is expected to increase below that point. A successful break will open up for the 126’s.
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