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EUR/USD's rally continues today and the strong break of 1.1621 cluster resistance (38.2% retracement of 1.2081 to 1.1323 at 1.1613) solidifies the case that fall from 1.2081 has completed as a three wave correction at 1.1323. Intraday bias stays on the upside for 61.8% retracement at 1.1791. On the downside, below 1.1613 minor support will turn intraday bias neutral first.

In the bigger picture, current development argues that fall from 1.2081 was a corrective pattern which has completed at 1.1323, after hitting 38.2% retracement of 1.0176 to 1.2081 at 1.1353. Firm break of 1.2081 will resume whole up trend from 1.1716. This will now remain the favored case as long as 55 D EMA (now at 1.1520) holds, in case of retreat.

USD/JPY's break of 158.58 minor support suggests that rebound from 155.22 has completed at 159.76. Intraday bias is back on the downside for retesting 155.22 low. In case of another rise, strong resistance should be seen from 159.59 to 160.62 zone (50% and 61.8% retracement of 163.97 to 155.22) to limit upside.

In the bigger picture, as long as 155.01 cluster support (38.2% retracement of 139.87 to 163.97 at 154.76) holds, the larger up trend is still expected to continue through 163.97 after current correction completes. However, firm break of 155.01 will raise the chance that USD/JPY is already in a larger scale correction, and open up deeper fall back to 139.87 (2025 low) in the medium term.

GBP/USD's rally continues today and intraday bias stays on the upside. Rise from 1.3139 would target 100% projection of 1.3139 to 1.3557 from 1.3272 at 1.3690. On the downside, below 1.3521 minor support will turn intraday bias neutral again.

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.

USD/CHF's extended decline argues that rebound from 0.7603 has completed with three waves up to 0.8205. Intraday bias is back on the downside for rising channel support (now at 0.7921). Sustained break there will solidify this case, and target 0.7760 support next. On the upside, above 0.8038 support turned resistance will turn intraday bias neutral again first.

In the bigger picture, focus is now on 38.2% retracement of 0.9200 (2025 high) to 0.7603 at 0.8213. Decisive break will argue that USD/CHF is reversing the medium term trend, and turn focus to 0.8332 support turned resistance (2023 low) for confirmation. Nevertheless, rejection by 0.8213 will maintain medium term bearishness for another fall through 0.7603 at a later stage.

Intraday bias in AUD/USD remains neutral and more consolidations would be seen first. Further rally is expected as long as 0.7026 resistance turned support holds. Above 0.7128 will extend the rise from 0.6864 to 161.8% projection of 0.6864 to 0.7026 from 0.6921 at 0.7183.

In the bigger picture, price action from 0.7277 medium term top is seen as developing into a correction to rise from 0.5913 only. While deeper decline cannot be ruled out, downside should be contained by 38.2% retracement of 0.5913 to 0.7277 at 0.6756 to bring rebound. Consolidations would continue below 0.7277 for a while, before an eventual upside breakout.

USD/CAD's fall from 1.4247 resumed after brief consolidations. Intraday bias is back on the downside for 61.8% retracement of 1.3480 to 1.4247 at 1.3773. Sustained break there will pave the way back to retest 1.3480 low. On the upside, above 1.3909 minor resistance will turn intraday bias neutral again first.

In the bigger picture, rejection below 61.8% retracement of 1.4791 to 1.3480 at 1.4290 suggests that the pattern from 1.4791 medium term is still extending. Firm break of 55 W EMA (now at 1.3883) will solidify this case, and bring deeper decline through 1.3480 low.

Intraday bias in GBP/JPY is turned neutral first with current retreat. Some consolidations could be seen below 216.20 first. Further rise is in favor as long as 213.28 support holds. Break of 216.20 will target a retest on 219.56 high. Nevertheless, firm break of 213.28 will bring deeper fall back to 209.55 low.

In the bigger picture, strong rebound above 55 W EMA (now at 208.91) keeps the up trend from 123.94 (2020 low) intact. Firm break of 209.55 should target 100% projection of 148.93 to 208.09 from 184.35 at 243.51. However, sustained break of 55 W EMA will argue that it's already in a medium term down trend to 184.35 support.

EUR/JPY's rally from 179.34 continues after brief retreat. Intraday bias stays on the upside for 187.42 resistance first. Firm break there will bring retest of 187.93 high. On the downside, below 183.90 minor support will turn intraday bias neutral first.

In the bigger picture, strong rebound from rising 55 W EMA (now at 180.23) keeps the up trend from 114.42 (2020 low) intact. Break of 187.93 will target 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 will argue that it's already in a medium term down trend to 175.41 resistance turned support and below.

Intraday bias in EUR/GBP remains neutral first. Break of 0.8585 will extend the rebound from 0.8453. But still, strong resistance is expected from 0.8610 to cap upside. On the downside, break of 0.8530 support will turn bias back to the downside for retesting 08453. However, sustained break of 0.8610 will bring stronger rally to falling channel resistance (now at 0.8650).

In the bigger picture, rise from 0.8221 (2024 low) should have completed at 0.8863, just ahead of 38.2% retracement of 0.9267 (2025 high) to 0.8221 at 0.8867. Deeper fall would be seen back to 0.8221. For now, outlook will be neutral at best as long as 0.8610 support turned resistance hold.

Intraday bias in EUR/AUD stays on the upside for 1.6503 resistance. Firm break there will target 1.6617. 1.6617. On the downside, below 1.6250 will target a retest on 1.6108 low. Overall, corrective pattern from 1.6108 (or 1.6125) is still extending.

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.