EUR

After attempts to breach the key support yesterday, the Euro versus Dollar pair rebounded to the upside to maintain levels above 1.3950. Yesterday's incline resulted in a bullish technical pattern with a neckline at 1.3990 with targets at 1.4100 to near the awaited target on the intraday at 1.4255. As a result, we expect the pair is to incline today in an attempt to breach the neckline as far as 1.3950 is intact.

The trading range for today is among the key support at 1.3655 and the key resistance at 1.4400

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

GBP

The Cable ended trading yesterday above 1.6200 which may stall the downtrend on the short term. The next target is breaching the minor resistance at 1.6290 – the key resistance for the minor descending channel – which may be a bullish technical pattern (flag). A breach of this level will open the way for further inclines and therefore we expect the pair is to incline on the intraday basis pressuring the above mentioned resistance level to target 1.6385 and 1.6520 as far as 1.6200 remains intact.

The trading range for today is among the key support at 1.5860 and the key resistance at 1.6520

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7100

JPY

The USD/JPY pair was able to reach the initial downside target near 94.85 – 94.40 before rebounding back to the upside in slight correctional movements. We expect the pair to retest the broken level at 95.70 before reversing to the downside on the intraday basis targeting the same levels as yesterday before extending towards 93.00 as far as 97.55 remains intact.

The trading range for today is among the key support at 93.00 and the key resistance at 98.85

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

CHF

The Dollar versus Swissy was able to breach the neckline for the bullish technical pattern reaching the next resistance at 1.0950 before correcting to the downside to the 50% correction at 1.0835. Momentum indicators show the pair being oversold where from here we expect the pair is to rebound to the upside towards 1.0950 in an attempt to breach it and continue trading within the ascending channel to target the key resistance for the channel at 1.1135.

The trading range for today is among the key support at 1.0570 and the key resistance at 1.1135

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

CAD

After attempting to breach the pivot resistance at 1.1650, the Dollar versus Loonie pair reversed to close below this level which keeps the downtrend on the intraday valid with targets at 1.1365. We see a bearish technical pattern with a neckline at 1.1580 where a breach of which will open the way towards 1.1365 noting the possibility of high volatility around the neckline due to the obvious oversold signal on the stochastic indicator. The decline remains as far as 1.1790 is intact.

The trading range for today is among the key support at 1.1335 and the key resistance at 1.1815

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