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Daily Pivots: (S1) 159.94; (P) 160.72; (R1) 161.54; More...

EUR/JPY's strong break of 159.74 support confirms resumption of whole fall from 164.89. Intraday bias is back on the downside for 156.16 support next. Overall, consolidation pattern from 154.40 could still extend. Above 161.48 minor resistance will turn bias back to the upside for 164.07 resistance.

In the bigger picture, price actions from 175.41 are seen as correction to rally from 114.42 (2020 low). The range of consolidation should have been set between 38.2% retracement of 114.42 to 175.41 at 152.11 and 175.41 high. However, decisive break of 152.11 would argue that deeper correction is underway.

Daily Pivots: (S1) 0.8346; (P) 0.8367; (R1) 0.8379; More...

EUR/GBP's strong break of 55 D EMA (now at 0.8355) suggests that rebound from 0.8221 has completed at 0.8472 as a corrective move. Intraday bias stays on the downside for retesting 0.8221 low. On the upside, above 0.8388 minor resistance will turn intraday bias neutral first.

In the bigger picture, a medium term bottom should be in place at 0.8221, just ahead of 0.8201 key support (2022 low). Sustained trading above 55 W EMA (now at 0.8442) will pave the way to 0.8624 cluster zone (38.2% retracement of 0.9267 to 0.8221 at 0.8621), even just as a correction to the down trend from 0.9267 (2022 high). But still, medium term outlook will be neutral at best as long as 0.8621/4 holds.

Daily Pivots: (S1) 1.6631; (P) 1.6690; (R1) 1.6738; More...

EUR/AUD is still bounded in range trading below 1.6800 and intraday bias remains neutral. In case of another dip, strong support is expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.

In the bigger picture, EUR/AUD is holding on to 1.5996 key support (2024 low) despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 0.9420; (P) 0.9448; (R1) 0.9469; More....

EUR/CHF's steep decline and break of near term channel support argues that corrective rebound from 0.9204 has completed at 0.9516 already. Intraday bias is back on the downside for 0.9336 support first. Firm break there will solidify this bearish case and target a retest on 0.9204 low. On the upside, though, above 0.9424 support turned resistance will turn intraday bias neutral again first.

In the bigger picture, current development argues that rebound from 0.9204 has completed as a corrective move after failing to sustain above 38.2% retracement of 0.9928 to 0.9204 at 0.9481. Firm break of 0.9204/9 support zone will confirm larger down trend resumption.

Daily Pivots: (S1) 1.0328; (P) 1.0381; (R1) 1.0412; More...

EUR/USD's steep decline and strong break of 1.0371 minor support suggests that corrective recovery from 1.0176 has completed at 1.0531 already. Intraday bias is back on the downside for 1.0176 support. Firm break there will resume whole fall from 1.1274. For now, outlook will remain bearish as long as y 38.2% retracement of 1.1213 to 1.0176 at 1.0572 holds, in case consolidation from 1.0176 extends with another rebound.

In the bigger picture, outlook is mixed as fall from 1.1274 (2023 high) could either be the second leg of the corrective pattern from 0.9534 (2022 low), or another down leg of the long term down trend. Strong support from 61.8 retracement of 0.9534 to 1.1274 at 1.0199 will favor the former case, and sustained break of 55 W EMA (now at 1.0693) will argue that the third leg might have started. However, sustained trading below 1.0199 will favor the latter case and bring retest of 0.9534 low.

Daily Pivots: (S1) 1.2361; (P) 1.2416; (R1) 1.2447; More...

GBP/USD's break of 1.2292 minor support suggests that corrective recovery from 1.2099 has completed at 1.2522. Intraday bias is back on the downside for retesting 1.2099 first. Firm break there will resume whole decline from 1.3433. In case of another rise as corrective move from 1.2099 extends, upside should be limited by 38.2% retracement of 1.3433 to 1.2099 at 1.2609.

In the bigger picture, rise from 1.0351 (2022 low) should have already completed at 1.3433 (2024 high), and the trend has reversed. Further fall is now expected as long as 1.2810 resistance holds. Deeper decline should be seen to 61.8% retracement of 1.0351 to 1.3433 at 1.1528, even as a corrective move. However, firm break of 1.2810 will dampen this bearish view and bring retest of 1.3433 high instead.

Daily Pivots: (S1) 0.9083; (P) 0.9099; (R1) 0.9129; More…

Intraday bias in USD/CHF stays on the upside for the moment. Break of 0.9200 will resume the whole rise from 0.8374. Further decisive break of 0.9223 key resistance will carry larger bullish implications. On the downside, below 0.9070 minor support will turn intraday bias neutral first. But outlook will now stay bullish as long as 0.8964 support holds.

In the bigger picture, as long as 0.9223 resistance holds, price actions from 0.8332 (2023 low) are seen as a medium term corrective pattern. That is, long term down trend is in favor to resume through 0.8332 at a later stage. However, sustained break of 0.9223 will be an important sign of bullish trend reversal.

Daily Pivots: (S1) 154.34; (P) 154.78; (R1) 155.64; More...

Range trading continues in USD/JPY and intraday bias remains neutral at this point. On the downside, firm break of 153.70 will resume the fall from 158.86 to 38.2% retracement of 139.57 to 158.86 at 151.49. Nevertheless, break of 156.74 resistance will indicate that fall from 158.86 has completed as a correction. Intraday bias will be back on the upside for 158.86 and above to resume the whole rally from 138.57.

In the bigger picture, price actions from 161.94 are seen as a corrective pattern to rise from 102.58 (2021 low). The range of medium term consolidation should be set between 38.2% retracement of 102.58 to 161.94 at 139.26 and 161.94. Nevertheless, sustained break of 139.26 would open up deeper medium term decline to 61.8% retracement at 125.25.

Daily Pivots: (S1) 1.4415; (P) 1.4488; (R1) 1.4603; More...

USD/CAD's rally accelerates higher today and breaks through 1.4667/89 resistance zone. There is no sign of topping yet. Intraday bias stays on the upside for 1.4993 projection level next. For now, outlook will remain bullish as long as 1.4372 support holds, in case of retreat.

In the bigger picture, the break of 1.4667/89 key resistance zone (2020/2015 highs) confirms long term uptrend resumption. Next target is 100% projection of 1.2401 to 1.3976 from 1.3418 at 1.4993. Medium term outlook will remain bullish as long as 1.3976 resistance turned holds (2022 high), even in case of deep pullback.

Daily Pivots: (S1) 0.6189; (P) 0.6226; (R1) 0.6249; More...

AUD/USD's fall from 0.6941 resumed by breaking through 0.6130 support today. Intraday bias is back on the downside fro 61.8% projection of 0.6687 to 0.6130 from 0.6329 at 0.5985 next. For now, outlook will stay bearish as long as 0.6329 resistance holds, in case of recovery.

In the bigger picture, fall from 0.6941 (2024 high) is seen as part of the down trend from 0.8006 (2021 high). Next medium term target is 61.8% projection of 0.8006 to 0.6169 from 0.6941 at 0.5806. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.6511) holds.