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USDCAD has been trading in an ascending movement over the last one-and-a-half months, but in case of a penetration of the trend line it could move lower in the near term. Also, when looking at the bigger picture the pair has a clear upside trend after its rebound on the 1.2060 support level.

Momentum indicators in the daily timeframe, are too weak to provide a sustained move higher as the RSI is flattening above the neutral threshold of 50 and the MACD dropped marginally below the trigger line. The 20- and 40-simple moving averages (SMAs) could act as strong support levels for traders, as the price holds above them.

In the event of more negative pressures and a slip below the 20-day simple moving average (SMA) the pair could challenge the 1.3125 support, taken from the latest lows. A significant slip below this region, could lead to a test the 40-SMA level near 1.3090, before heading towards the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385, around 1.3070.

However, a rebound could drive the market until the 1.3315 resistance and a jump above this region, could take on the one-year high of 1.3385.

Turning to the long-term view, the market seems to be in a bullish mode given that USDCAD still trades above the 20- and 40-day SMAs and well above the long-term ascending trend line, which has been holding since September 2014.

To sum up, the pair is expected to post more gains in the short- and long-term outlooks.

Daily Pivots: (S1) 112.82; (P) 113.01; (R1) 113.14; More..

Intraday bias in USD/JPY remains neutral at this point. On the downside, break of 112.30 will extend the fall from 114.20 and target 111.37 support. Such decline is seen as the third leg of the consolidation pattern from 114.54. Downside should be contained by 38.2% retracement of 104.62 to 114.54 at 110.75 to bring rebound. On the upside, break of 113.21 will indicate that fall from 114.20 has completed. And, intraday bias will be turned back to the upside for 114.54/73 key resistance zone.

In the bigger picture, corrective fall from 118.65 (2016 high) should have completed with three waves down to 104.62. Decisive break of 114.73 resistance will likely resume whole rally from 98.97 (2016 low) to 100% projection of 98.97 to 118.65 from 104.62 at 124.30, which is reasonably close to 125.85 (2015 high). This will stay as the preferred case as long as 109.76 support holds. However, decisive break of 109.76 will dampen this bullish view and turns outlook mixed again.

Daily Pivots: (S1) 0.8824; (P) 0.8875; (R1) 0.8908; More...

Intraday bias in EUR/GBP remains neutral for the moment. As long as 0.8824 minor support holds, further rise is expected. On the upside, decisive break of 0.8939 will extend the rally from 0.8655 to 0.9098 resistance next. However, break of 0.8824 will now suggest completion of the rebound from 0.8655. Intraday bias will be turned back to the downside instead.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Medium term fall from 0.9305 is possibly in progress and could extend through 0.8620. On the upside, break of 0.8939 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain cautiously bearish even in case of rebound.

Daily Pivots: (S1) 1.5675; (P) 1.5717; (R1) 1.5767; More....

Intraday bias in EUR/AUD remains neutral at this point. On the upside, above 1.5781 will resume the corrective rebound from 1.5519 to 38.2% retracement of 1.6357 to 1.5519 at 1.5839 and possibly above. But upside should be limited well below 1.5984 support turned resistance to bring fall resumption. On the downside, below 1.5643 minor support will bring retest of 1.5519 low.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.5984 support turned resistance is now needed to revive the prior medium term up trend. Otherwise, further decline will be in favor even in case of strong interim rebound.

Daily Pivots: (S1) 1.1322; (P) 1.1340; (R1) 1.1364; More...

Intraday bias in EUR/CHF remains neutral at this point. Outlook is unchanged that price actions from 1.1501 are seen as a corrective pattern. Downside should be contained by 61.8% retracement of 1.1173 to 1.1501 at 1.1298 to bring rebound. On the upside, break of 1.1433 resistance will argue that the pull back has completed. Further rise should be seen back to 1.1501 resistance first. Break of 1.1501 will revive the case of bullish trend reversal. However, sustained break of 1.1298 will turn focus back to 1.1173 low.

In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by support zone of 1.1198 (2016 high) and 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to complete it and bring rebound. This cluster level is in proximity to long term channel support (now at 1.1261) too. A break of 1.2 key resistance is still expected in the medium term long term. However, sustained break of the mentioned support zone will mark reversal of the long term trend. In that case, 1.0629 key support will be back into focus.

Daily Pivots: (S1) 128.61; (P) 128.86; (R1) 129.06; More....

EUR/JPY is staying in consolidation above 127.49 and intraday bias remains neutral for the moment. As long as 130.14 resistance holds, deeper decline is in favor in the cross. Below 127.49 will target 126.63 support first. Break there will resume whole fall from 133.12 and target 124.08/89 support zone. On the upside, however, break of 130.14 will resume the rebound from 126.63 towards 133.12 resistance.

In the bigger picture, as long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. However, decisive break of 124.08 will argue that such rise from 109.03 has completed and turn outlook bearish. In that case, deeper fall would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90.

For the 24 hours to 23:00 GMT, the EUR rose 0.15% against the USD and closed at 1.1403, after Britain and EU agreed on a draft text on their future relations after Brexit.

Macroeconomic data showed that the Euro-zone's flash consumer confidence index declined to a level of -3.9 in November, more than market expectations for a fall to a level of -3.0. The index had recorded a reading of -2.7 in the previous month.

In the Asian session, at GMT0400, the pair is trading at 1.1416, with the EUR trading 0.11% higher against the USD from yesterday's close.

The pair is expected to find support at 1.1393, and a fall through could take it to the next support level of 1.1371. The pair is expected to find its first resistance at 1.1436, and a rise through could take it to the next resistance level of 1.1457.

Going forward, traders would await the Markit manufacturing and services PMIs for November, set to release across the euro-bloc. Later in the day, the US Markit manufacturing and services PMIs for November, will be on investors' radar.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

For the 24 hours to 23:00 GMT, the GBP rose 0.80% against the USD and closed at 1.2876, after the Britain and the European Union agreed on a draft political declaration for future ties.

In the Asian session, at GMT0400, the pair is trading at 1.2881, with the GBP trading marginally higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2794, and a fall through could take it to the next support level of 1.2706. The pair is expected to find its first resistance at 1.2948, and a rise through could take it to the next resistance level of 1.3014.

Looking ahead, investors will closely monitor UK’s net consumer credit, the GFK consumer confidence index and the Nationwide house price index, all slated to release next week.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD declined 0.08% against the JPY and closed at 112.99.

Data revealed that Japan's final machine tool orders retreated 0.7% on a yearly basis in October, while preliminary figures had indicated a fall of 1.1%. Machine tool orders had recorded a rise of 2.9% in the prior month.

In the Asian session, at GMT0400, the pair is trading at 112.93, with the USD trading 0.05% lower against the JPY from yesterday's close.

The pair is expected to find support at 112.85, and a fall through could take it to the next support level of 112.78. The pair is expected to find its first resistance at 113.04, and a rise through could take it to the next resistance level of 113.16.

Moving forward, investors would keep an eye on Japan's Nikkei manufacturing PMI, consumer confidence index, jobless rate, industrial production, retail trade and large retailers' sales, all scheduled to release next week.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD slightly rose against the CHF and closed at 0.9947.

On the data front, Switzerland's industrial production climbed 1.4% in on an annual basis in 3Q 2018. In the prior month, industrial production had registered a gain of 8.3%.

In the Asian session, at GMT0400, the pair is trading at 0.9937, with the USD trading 0.10% lower against the CHF from yesterday's close.

The pair is expected to find support at 0.9921, and a fall through could take it to the next support level of 0.9904. The pair is expected to find its first resistance at 0.9955, and a rise through could take it to the next resistance level of 0.9972.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.