We have seen some downside pressure on higher yielders in general today, and the greenback correcting some of Friday's losses.

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The EUR/USD found resistance at 1.3190 level; which is a pervious swing high and an important intraday level. Now the pair is retreating again attempting to retest the previously breached resistance which should turn into support around 1.3100-1.3120 and around the 200-hours Simple moving average as well. The intraday bias should turn positive if the pair manages to settle above the key level eyeing another test of the recent high near 1.3190, where if taken we may see further gains towards 1.3270-1.3280. On the other hand failure to hold above 1.3100 could push it lower again initially towards 1.3050.

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Despite the relative strength, the U.S. dollar is losing grounds against British pound; the GBP/USD pair is trading in the positive territory printing new highs today, and testing the 200-days SMA. Over intraday basis, the pair managed to build a bottom at 1.5820 level followed by testing 1.5890 resistance. The recent breach of the descending channel shown on the image hinted the current rally, however the rally may be overdone as price is extensively overbought over the lower time-frames as seen on RSI momentum indicator. The 1.5820 support level should be watched carefully; where dip below the level could extend the downside correction to 1.5750 next support areas. Above 1.5890 the door will be open towards 1.5950 areas.

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USD/JPY maintains the recent bearish correction, where the correction grabbed the pair to breach the short term ascending trend line shown on the image. Meanwhile, the correction is taking the shape of a continuation flag pattern. Thus, we may see further pressure on the pair if it fails to settle back above 83.50 followed by the descending resistance of the flag. Downside potential support levels start at 83.00 and 82.60. While taking the flag to the upside shall clear the way to continue the bullish trend towards 84.00 and 85.00 areas.

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AUD/USD has completed a retest of 1.0550-1.0560 support level, which is the previously breached neckline for a short term inverted head and shoulders pattern. Stochastic has dipped in oversold area and currently attempting to gather bullish momentum; thus successfully holding above 1.0550 may lead to another test of 1.0620 high followed by 1.0670. If 1.0550 was taken we anticipate a deeper correction towards 1.0500-1.0510 before attempting to the upside again.