EurUsd EUR/USD's recovery with 4 hours MACD crossed above signal line suggests that an intraday low is in place at 1.3026 and some consolidation could now be seen, probably with recovery to 4 hours 55 EMA (now at 1.3409). Nevertheless, short term outlook remains bearish as long as 1.3796 resistance holds. As discussed before, consolidation from 1.2329 has possibly completed at 1.4719 already. Fall from there is expected to extend to retest 1.2329 low on resumption.
GbpUsd GBP/USD's break of 1.4724 minor resistance indicates that a short term bottom is in place at 1.4469 and some more consolidation could now be seen. Though, upside of the current rebound from 1.4469 is expected to be limited well below 1.5372 resistance and bring fall resumption. As discussed before, whether consolidation from 1.4557 is completed at 1.5722 or 1.5372 doesn't alter the medium term bearish outlook. Break of 1.4350 will confirm down trend resumption.
UsdJpy USD/JPY's rebound and break of 89.98 minor resistance indicates that a short term bottom is in place. Some consolidation should be seen for the moment. But upside of the current recovery should be limited by 91.65 cluster resistance and bring fall resumption. As discussed before, the corrective three wave structure of the rebound from 87.13 to 94.61 is consistent with the medium term bearish view. Below 88.47 will encourage a retest of 87.13 low first and break will bring medium term down trend resumption.
UsdChf USD/CHF fails to sustain above 1.1270 and settles back into tight range. Though, further rise is still expected as long as 1.1093 minor support holds, towards 61.8% retracement of 1.2296 to 1.0366 at 1.1559. But upside is expected to be limited there to break resumption of whole fall from 1.2292. On the downside, below 1.1093 will turn intraday outlook neutral again.