EUR/USD: We are overall bearish. Successive ‘‘doji’’ candles point to a breather from the recent sell-off. We prefer to fade upticks towards 1.1185 and look for a move lower towards the 1.0970 area and then the 1.0910 lows. Further out, we see room towards 1.0840 and then 1.0710.
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USD/JPY: We are bearish and would look to fade upticks. It would take a move above the 105.20 area to signal something more than a short-term corrective bounce. Our downside targets are towards support in the 100.00 area and then the 99.00 lows.
GBP/USD: Short-term upticks are viewed as a correction within the context of the overall down-trend. We prefer to fade upticks towards resistance in the 1.3380 area. Our targets are near 1.2750 and then lower towards the 1.2500 area. Our greater targets are towards 1.1855.
AUD/USD: We are bearish against the 0.7650 range highs and look for a move lower towards initial targets near 0.7370 and then the recent range lows near 0.7285. Beyond there, we are looking for downside towards 0.7145.
NZD/USD: We are clinging to our bearish view. A clear break above resistance near 0.7305 would force us to abandon our view in favour of a squeeze higher towards the 0.7420 area. For now we look for a move lower towards 0.7080 and then targets near 0.6960.
USD/CAD: We are turning bearish as price approaches the 1.3190 range highs and expect sellers to emerge as momentum studies become stretched. Our downside targets are towards 1.2830 and then the 1.2655 lows.