EUR/USD: We are bearish against resistance in the 1.1360 area (near the 21-dma) and look for a move lower towards initial targets at the 1.1215 range lows. Below there would signal further downside. Our next targets are near 1.1125 and then 1.0990.
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USD/JPY: No change. We are neutral for now and look for signs of a top under the 111.90 range highs to prompt us to adopt a more bearish stance in line with our overall view for weaker USDJPY. Our initial downside targets are towards 106.40 and then 105.20.
USD/CHF: The break above initial targets near the 0.9800 April highs is testing resistance in the 0.9840 area. We look for a move above to signal an extension towards 0.9915 and then 0.9955.
AUD/USD: We are neutral. A move above the 0.7405 range highs is needed to make us more bullish in the short term and would signal higher in range towards 0.7465/0.7535. Meanwhile, the month-long trend is still bearish. A close below 0.7260, the 200-dma would prompt us to re-establish a bearish view towards 0.7040 next.
NZD/USD: No change. We are neutral as price chops in a 0.6715/0.6850 range. A break below 0.6715 would make us more bearish towards targets near 0.6665 and then 0.6545.
USD/CAD: We are bearish and look for a move below 1.2770 to confirm a small topping pattern with initial targets near 1.2580 and then the 1.2460 lows.