EUR/USD: Successive topping candles warn of a move back within range. We look for a low close to make us more bearish and confirm downside traction towards initial targets near 1.1250, the 21-dma.
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USD/JPY: No change. We are sticking with our overall bearish view and would prefer to fade upticks towards 108.90. A move below 106.35 would signal lower towards 105.50 and then our targets are in the 105.35/105.20 area. Further out, we see room towards 100.70.
GBP/USD: A move below support in the 1.4330 area would encourage our bearish view and signal a double-top under the 1.4770 highs. Our initial targets are towards the 1.4090 area. A move below there would signal downside towards 1.4005.
AUD/USD: Short-term risk is a squeeze higher in range towards the 0.7490 area. A break above there would signal higher towards 0.7550/70 before sellers emerge. We are neutral and look for signs of a top to re-establish a bearish view.
NZD/USD: We are neutral. Stretched daily studies and falling daily volumes warn of topping risk. We prefer to sell upticks against the 0.7055 range highs. Our initial downside targets are near 0.6890 and then lower towards 0.6675.
USD/CAD: Our bearish view was encouraged by the break below our initial targets in the 1.2770 area. We are now looking for further downside towards the 1.2460 lows.