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Intraday bias in GBP/USD remains neutral and more consolidations could be seen above 1.3161 temporary low. Further fall is expected as long as 1.3300 support turned resistance holds. On the downside, decisive break of 1.3158 support will resume whole fall from 1.3867 to 100% projection of 1.3867 to 1.3158 from 1.3657 at 1.2948.

In the bigger picture, price actions from 1.3867 are a corrective pattern within the broader up trend from 1.0351 (2022 low). With 1.3008 support intact, medium term bullishness is maintained and break of 1.3867 is in favor for a later stage, towards 1.4248 key resistance (2021 high). However, firm break of 1.3008 will at least bring deeper fall to 38.2% retracement of 1.0351 to 1.3867 at 1.2524, with increased risk of bearish reversal.

Intraday bias in USD/CHF remains mildly on the upside for the moment. Current rally should target 100% projection 0.7603 to 0.8041 from 0.7600 at 0.8198 next. On the downside, below 0.8053 minor support will turn intraday bias neutral and bring consolidations first before staging another rise.

In the bigger picture, while a medium term bottom was formed at 0.7603, it's still early to call for bullish trend reversal. As long as 38.2% retracement of 0.9200 (2025 high) to 0.7603 at 0.8213 holds, the larger down trend could still continue through 0.7603 at a later stage. However, firm break of 0.7603 will argue that the trend has reversed and turn focus to 0.8332 support turned resistance (2023 low) for confirmation.

AUD/USD's fall from 0.7277 resumed by breaking through 0.6977 and intraday bias is back on the downside. Further decline should be seen to 0.6832 support next. For now, risk will stay on the downside as long as 0.7087 resistance holds, in case of recovery.

In the bigger picture, considering bearish divergence condition in D MACD, a medium term top could be formed at 0.7277 after failing to sustain above 61.8% retracement of 0.8006 (2021 high) to 0.5913 (2024 low) at 0.7206). Deeper fall could be seen to 38.2% retracement of 0.5913 to 0.7277 at 0.6756 as a correction. But strong support should be seen there to bring rebound. Consolidations would continue below 0.7277 for a while.

Intraday bias in USD/CAD remains mildly on the upside for the moment. Current rise from 1.3480 should target 61.8% retracement of 1.4791 to 1.3480 at 1.4290. On the downside, below 1.4131 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, current development suggests that fall from 1.4791 has completed as a three wave correction to 1.3480. It's still early to judge if rise from there a corrective bounce, or resumption of the larger up trend from 1.2005 (2021 low). But in either case, retest of 1.4791 high should be seen next.

Intraday bias in GBP/JPY remains neutral at this point. On the downside, below 212.36 will affirm the case that rebound form 210.43 has completed as a correction. Deeper fall would be seen to 211.23 support first. However, break of 215.59 will resume the rebound from 210.43 to retest 216.58.

In the bigger picture, there is no clear sign of trend reversal yet. The long term up trend could still extend to 61.8% projection of 148.93 (2022 low) to 208.09 (2024 high) from 184.35 at 220.90 on resumption. However, sustained break of 55 W EMA (now at 207.11) will argue that it's already in medium term down trend for 184.35 support.

Intraday bias in EUR/JPY stays neutral first. On the downside, firm break of 183.95 will argue that rebound from 182.01 has completed, and bring deeper fall back to this support. Nevertheless, break of 186.30 will resume the rise to retest 187.93 high instead.

In the bigger picture, there is no sign of reversal yet. Uptrend from 114.42 (2020 low) is still expected to resume at a later stage to 78.6% projection of 124.37 (2022 low) to 175.41 (2025 high) from 154.77 at 194.88. However, sustained break of 55 W EMA (now at 179.41) will argue that it's already in a medium term down trend to 175.41 resistance turned support and below.

EU/GBP is still holding above 0.8615 support despite current sharp fall. Intraday bias remains neutral first. On the upside, firm break of 0.8686 resistance will bring further rally back to 0.8278 resistance. Decisive break there will argue that fall from 0.8863 has completed already. On the downside, however, decisive break of 0.8610 support will revive the case of bearish trend reversal.

In the bigger picture, focus is staying on 38.2% retracement of 0.8221 to 0.8863 at 0.8618. Strong rebound from there will retain medium term bullishness. Rise from 0.8221 should resume through 0.8863 at a later stage. Nevertheless, sustained break of 0.8618 will confirm that whole rise from 0.8221 has completed at 0.8863. Deeper decline should then be seen to 61.8% retracement at 0.8466 at least.

Intraday bias in EUR/AUD stays neutral first. On the upside, break of 1.6306 will argue that rise from 1.6108 is still in progress. Retest of 1.6516 will be seen first, and break will confirm this case. On the downside, below 1.6306 will turn bias back to the downside for 1.6186 support.

In the bigger picture, outlook will stay bearish as long as 1.6842 resistance holds. Fall from 1.8554 (2025 high) is expected to continue to 61.8% retracement of 1.4281 to 1.8554 at 1.5913. Decisive break there will pave the way back to 1.4281 (2022 low). However, firm break of 1.6842 should confirm medium term bottoming, and bring stronger rally.

Intraday bias in EUR/CHF is turned neutral first with current retreat. Some consolidations would be seen below 0.9265 temporary top. But outlook will remain bullish as long as 0.9179 support holds On the upside, decisive break of 0.9264 resistance will resume the rally from 0.8979 to 100% projection of 0.8979 to 0.9264 from 0.9094 at 0.9379.

In the bigger picture, the break of medium term falling trend line resistance indicate that 0.8979 is already on medium term bottom. Considering bullish convergence condition in W MACD, rise from there should at least be reversing the fall from 0.9928, with prospect of developing into a medium term up trend. Firm break of 0.9394 resistance will add more credence to this case. For now rise will remain on the upside as long as 0.9094 support holds, in case of retreat.

ECB Chief Economist Philip Lane emphasized on Tuesday that the central bank's recent policy tightening should be viewed as a measured response to inflation risks rather than the start of an aggressive hiking cycle. Speaking before the European Parliament's ECON committee, Lane acknowledged that progress toward resolving the conflict in the Middle East was encouraging but warned that "uncertainty remains elevated" and that there are "continued risks for inflation to stay above our 2% medium-term target for quite some time."

Lane sought to strike a balance between vigilance and restraint. Defending the ECB's June rate hike, he said, "We're taking a measured approach," adding that "this is not a kind of huge, gigantic response. It's a calibrated response to what we see." His comments suggest policymakers remain concerned that higher energy costs could feed into broader inflation expectations, even as oil prices have retreated significantly from their recent peaks. At the same time, updated ECB scenarios indicate that current oil prices are now tracking between the bank's baseline and milder assumptions, reducing pressure for another immediate move.

While inflation may remain above target into the first half of 2027, Lane pushed back against concerns that the Eurozone economy is heading toward stagnation. He argued that strong labor markets, heavy investment in artificial intelligence, and increased public spending on defense and infrastructure should continue to support activity. "It's lower growth than we had hoped for but this is far above a stagnating economy," Lane said. "There is a fair amount of momentum in the economy." The remarks reinforce market expectations that the ECB is likely to remain on a tightening path, though with little urgency to follow June's rate hike with another increase as soon as July.