The following are the intraday outlooks for EUR/USD, USD/JPY, USD/CAD and EUR/GBP as provided by the technical strategy team at SEB Group.
EUR/USD: Could test 1.1296\1359 before down. Buyers keep responding to dips inside the ascending 55day exponentially weighted moving average band. The high session close yesterday shows renewed near-term demand and as long as holding above 1.1146, there is a “risk” of testing resistance in the 1.1296\1.1359-zone before steering south again. Current intraday stretches are located at 1.1140 & 1.1310.
USD/JPY: 1st testing the triangle support. After the false upside break, the pair is falling towards a test of the lower end of the triangle. Full attention must be given to the 119.25/119.04 support and break below the latter risks sending prices impulsively lower (but there be should some buying seen just head of support).
USD/CAD: Over 1.3414\17 would target 1.3470. The damage inflicted last Thursday is more or less mended already and advance through resistance at 1.3414\17 would lift the bar to the next long-term ref at 1.3470 – over which there could be another lOOpips to cover to test trendline resistance at 1.3570\85. Trendline support is currently located at 1.3350 and the intraday stretches at 1.3280 & 1.3480.
EUR/GBP: Buyers at the highend of resistance. The “Flag” breakout move is still in play and the high end of the 233day exponentially weighted moving average band (0.7420) is under intense fire. Also through 0.7440 (minor Fibo) should lift sights to a breakout objective at 0.7515, for now putting a short-term “Equality point” at 0.7590 in the shade. Strong support should be established in the 0.7555/05-zone. Current intraday stretches are located at 0.7345 & 0.7455.
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