EUR

The Euro versus Dollar pair faced a strong resistance at the 50% correction as seen in the above image sending the pair back to the downside towards the pivot support at 1.3825. The negative pressure seen may breach the above mentioned support and target 1.3350 as we expect the pair to decline on the intraday basis to reach 1.3745 initially followed by 1.3665 as far as 1.3935 remains intact.

The trading range for today is among the key support at 1.3440 and the key resistance at 1.4235

The general trend is to the downside as far as 1.4710 remains intact with targets at 1.2120

GBP

The Cable was able to pare gains as it declined to breach the minor support at 1.6365 and 1.6310 to near the key support at 1.6210. We expect the pair to decline further to reach the key support for the ascending channel at 1.6115 before rebounding back to the upside to target 1.7000 on the short term trend after breaching the key resistance at 1.6685 as far as 1.6115 remains intact.

The trading range for today is among the key support at 1.6075 and the key resistance at 1.6770

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7000

JPY

The resistance level at 96.80 was able to halt further gains for the USD/JPY pair resulting in reverse to the downside where we still hold our outlook targeting 95.50 as an initial target before heading towards 93.40 as far as 97.15 remains intact.

The trading range for today is among the key support at 93.40 and the key resistance at 100.70

The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60

CHF

Although the Dollar versus Swissy pair was expected to breach the support level at 1.0820 it has now formed a double bottom formation which may change the intraday trend to the upside if the pair was able to breach 1.0905 to target 1.0980 and 1.1040 respectively. This intraday incline will only occur if the 1.0905 is breached and as far 1.0820 remains intact.

The trading range for today is among the key support at 1.0585 and the key resistance at 1.1230

The general trend is to the upside as far as 1.0570 remains intact with targets at 1.2245

CAD

The Dollar versus Loonie pair inclined as we see in the above image to form a bullish technical pattern with a neckline at 1.1370. The strength in the Dollar may result in the breach of the neckline to target the key resistance for the ascending channel at 1.1460 where from there we have to monitor the price action to see whether the pair will be able to reach the technical targets.

The trading range for today is among the key support at 1.1060 and the key resistance at 1.1600

The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300