EUR/USD: We are bearish and look for a move lower in range towards initial targets near 1.0970 and then Friday’s 1.0910 lows. Further out we see room towards 1.0840 and then the 1.0710 area.
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USD/JPY: Low volumes on the recent uptick help to endorse our bearish view. We would fade upticks towards the 103.55 former range lows and look for a break below initial targets near 101.45 to signal lower towards last Friday’s 99.00 lows.
GBP/USD: While the former multi-year lows near 1.3505 cap the daily close, we are staying bearish. Our downside targets are towards 1.3015 and then the 1.2750 area.
AUD/USD: We prefer to use upticks towards 0.7520 as an opportunity to sell at better levels. A move below our initial targets near 0.7285 would signal lower towards the 0.7145 lows.
NZD/USD: We are bearish and look to fade upticks in range towards resistance near 0.7175. A move below our initial targets near 0.6960 would confirm downside traction. Our next targets are towards the 0.6810 area.
USD/CAD: We are bearish against the 1.3190 highs and look for a move lower in range towards initial targets near 1.2845 and 1.2775. A move below our next targets near 1.2655 would signal lower towards the 1.2460 year-to-date lows.