USD/JPY Intraday: Further advance. The pair is crossing above the upper
Bollinger band calling for acceleration to the upside. And strong upward
momentum is evidenced by the relative strength index, which is very well
directed in the 70s. Therefore, the intraday outlook has turned bullish, and the
pair should target 109.80 and 110.00 on the upside. Only a return to the key
support at 109.40 would bring about a bearish reversal.
EUR/USD Intraday: Key resistance at 1.1028. The pair has returned to levels below the 20-period moving average. And the relative strength index is testing the support at the neutrality level of 50, showing a lack of upward momentum for the pair. The level at 1.1028 (around the high of last Friday) is holding as the key resistance. Trading below this level, the pair should proceed toward 1.1010 and 1.1000 on the downside.
AUD/USD Intraday: Watch 0.6750 downside. The pair keeps testing the support at 0.6760 (the first downside target) while trading at levels below both 20-period and 50-period moving averages. Unless the key resistance at 0.6775 is surpassed, the pair stands higher chances of breaking below 0.6760 and targeting 0.6750 on the downside.
NZD/USD intraday: Rebound expected. Although the pair posted a pullback, it is still supported by both rising 20-period and 50-period moving averages. The relative strength index remains above its neutrality level at 50, suggesting the lack of downward momentum for the prices. Hence, as long as 0.6408 is not broken, look for a further upside with targets at 0.6452 and 0.6464 in extension. Alternatively, crossing below 0.6408 would trigger a drop with 0.6388 as a target.
GBP/USD Intraday: Under pressure. The pair produced a bearish gap at the session's open. It remains capped by the descending 20-period moving average, while the relative strength index has not yet recovered the neutrality level of 50 suggesting a lack of upward momentum for the pair. A break below the first downside target at 1.2900 would open a path toward the next one at 1.2880. Only a return to the key resistance at 1.2930 would bring about a bullish reversal.
USD/CHF Intraday: Rebound. The pair posted a rebound and broke above the upper Bollinger band, calling for an upward acceleration. Both rising 20-period and 50-period moving averages should push the prices higher. The relative strength index is heading upward. In this case, as long as 0.9995 acts as key support, the pair should reach 1.0020 and 1.0030 on the upside. On the other hand, below 0.9995, expect a drop with 0.9985 and 0.9975 as targets.
USD/CAD Intraday: Key resistance at 1.3290. Although the pair posted a rebound from 1.3270 (the low of Nov. 29), the upward potential is likely to be limited by the resistance at 1.3290. In addition, the 50-period moving average is also playing a resistance role. Therefore, as long as 1.3290 is not surpassed, intraday bearish bias remains with down targets at 1.3270 and 1.3260 in extension. Alternatively, crossing above 1.3290 would trigger a rebound with 1.3300 and 1.3310 as targets.
EUR/USD Intraday: Key resistance at 1.1028. The pair has returned to levels below the 20-period moving average. And the relative strength index is testing the support at the neutrality level of 50, showing a lack of upward momentum for the pair. The level at 1.1028 (around the high of last Friday) is holding as the key resistance. Trading below this level, the pair should proceed toward 1.1010 and 1.1000 on the downside.
AUD/USD Intraday: Watch 0.6750 downside. The pair keeps testing the support at 0.6760 (the first downside target) while trading at levels below both 20-period and 50-period moving averages. Unless the key resistance at 0.6775 is surpassed, the pair stands higher chances of breaking below 0.6760 and targeting 0.6750 on the downside.
NZD/USD intraday: Rebound expected. Although the pair posted a pullback, it is still supported by both rising 20-period and 50-period moving averages. The relative strength index remains above its neutrality level at 50, suggesting the lack of downward momentum for the prices. Hence, as long as 0.6408 is not broken, look for a further upside with targets at 0.6452 and 0.6464 in extension. Alternatively, crossing below 0.6408 would trigger a drop with 0.6388 as a target.
GBP/USD Intraday: Under pressure. The pair produced a bearish gap at the session's open. It remains capped by the descending 20-period moving average, while the relative strength index has not yet recovered the neutrality level of 50 suggesting a lack of upward momentum for the pair. A break below the first downside target at 1.2900 would open a path toward the next one at 1.2880. Only a return to the key resistance at 1.2930 would bring about a bullish reversal.
USD/CHF Intraday: Rebound. The pair posted a rebound and broke above the upper Bollinger band, calling for an upward acceleration. Both rising 20-period and 50-period moving averages should push the prices higher. The relative strength index is heading upward. In this case, as long as 0.9995 acts as key support, the pair should reach 1.0020 and 1.0030 on the upside. On the other hand, below 0.9995, expect a drop with 0.9985 and 0.9975 as targets.
USD/CAD Intraday: Key resistance at 1.3290. Although the pair posted a rebound from 1.3270 (the low of Nov. 29), the upward potential is likely to be limited by the resistance at 1.3290. In addition, the 50-period moving average is also playing a resistance role. Therefore, as long as 1.3290 is not surpassed, intraday bearish bias remains with down targets at 1.3270 and 1.3260 in extension. Alternatively, crossing above 1.3290 would trigger a rebound with 1.3300 and 1.3310 as targets.
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