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Daily Pivots: (S1) 1.1089; (P) 1.1159; (R1) 1.1200; More...

EUR/USD's break of 1.1173 minor support suggests short term topping at 1.1274, after rejection by 1.1273 fibonacci level. Intraday bias is back on the downside for deeper pull back towards 1.1011 resistance turned support. For now, risk is mildly on the downside as long as 1.1274 resistance holds, in case of recovery.

In the bigger picture, as rise from 0.9534 extends, focus is now on 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidify the case of bullish trend reversal and target 1.2348 resistance next. Meanwhile, outlook will continue to stay bullish as long as 1.0832 support holds, even in case of deep pull back.

Daily Pivots: (S1) 0.8591; (P) 0.8637; (R1) 0.8714; More...

USD/CHF's break of 0.629 minor resistance suggests short term bottoming at 0.8553, just ahead of 100% projection of 0.9439 to 0.8818 from 0.9146 at 0.8525. Intraday bias is back on the upside for stronger rebound towards 0.8818 support turned resistance. For now, risk will stay mildly on the upside as long as 0.8553 holds, in case of retreat.

In the bigger picture, the break of 0.8756 (2021 low) indicates break out from the long term range pattern. For now, medium term outlook will stay bearish as long as 0.9146 resistance holds. Further fall would be seen to 61.8% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.8317 next.

Daily Pivots: (S1) 1.2816; (P) 1.2891; (R1) 1.2941; More...

Intraday bias in GBP/USD stays neutral and outlook is unchanged. With 1.2847 resistance turned support intact, outlook stays bullish. On the upside, above 1.2963 minor resistance will turn bias back to the upside for retesting 1.3141 high. Nevertheless, decisive break of 1.2847 will argue that larger correction is underway and target 1.2589 support next.

In the bigger picture, rise from 1.0351 medium term bottom (2022 low) is in progress. Next target is 100% projection of 1.0351 to 1.2445 from 1.1801 at 1.3895. Break there will target 1.4248 key long term resistance (2021 high) next. This will now remain the favored case as long as 1.2678 resistance turned support holds.

Daily Pivots: (S1) 139.29; (P) 139.90; (R1) 140.67; More...

USD/JPY's rise from 137.22 accelerates higher today, and the development suggests that pull back from 145.06 has completed at 137.22 already. Intraday bias is now on the upside for retesting 145.06 first. Firm break there will resume larger rise from 127.20 to 61.8% projection of 129.62 to 127.22 from 145.06 at 146.76 next. On the downside, below 139.10 minor support will bring retest of 137.22 instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 0.6746; (P) 0.6797; (R1) 0.6829; More...

Intraday bias in AUD/USD stays neutral at this point. On the upside, decisive break of 0.6898 resistance will firstly confirm resumption of rise from 0.6457. Secondly, that should also confirm completion of the fall from 0.7156 at 0.6457. Next target will be 100% projection of 0.6457 to 0.6898 from 0.6594 at 0.7035, and then 0.7156 resistance.

In the bigger picture, price actions from 0.7156 are seen as a correction to the rebound from 0.6169 (2022 low). Break of 0.6898 resistance will argue that rise from 0.6169 is ready to resume through 0.7156. Next target will be 100% projection of 0.6169 to 0.7156 from 0.6457 at 0.7444. For now, this will be the favored case as long as 55 D EMA (now at 0.6703) holds.

Daily Pivots: (S1) 1.3130; (P) 1.3162; (R1) 1.3206; More....

Intraday bias in USD/CAD remains neutral, and outlook stays bearish with 1.3386 resistance intact. On the downside, break of 1.3091 will larger decline to 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054. However, firm break of 1.3386 will indicate near term reversal and turn outlook bullish.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. But even so, deeper decline is expected as long as 1.3386 resistance holds. Further fall could be seen to 61.8% retracement of 1.2005 to 1.3976 at 1.2758. Meanwhile, break of 1.3386 will be a sign that the correction has completed and bring stronger rally back to retest 1.3976.

Daily Pivots: (S1) 0.9613; (P) 0.9636; (R1) 0.9669; More...

Intraday bias in EUR/CHF is turned neutral with current recovery, but outlook stays bearish as long as 0.9684 resistance holds. On the downside, break of 0.9601 will resume the whole decline from 1.0095 to 100% projection of 0.9995 to 0.9670 from 0.9840 at 0.9515. On the upside, however, break of 0.9684 will indicate short term bottoming, and bring stronger rebound.

In the bigger picture, medium term outlook is staying bearish as the pair is capped below falling 55 W EMA (now at 0.9913). Down trend form 1.2004 (2018 high) is in favor to extend through 0.9407 at a later stage. Nevertheless, decisive break of 38.2% retracement of 1.1149 to 0.9407 will raise the chance of bullish trend reversal.

Daily Pivots: (S1) 179.74; (P) 180.23; (R1) 180.71; More...

Range trading continues in GBP/JPY above 179.45 and intraday bias remains neutral first. On the downside, break of 179.45 will resume the correction from 183.90 to 55 D EMA (now at 177.39). On the upside, firm break of 183.99 high will resume larger up trend to 187.36 projection level.

In the bigger picture, as long as 172.11 resistance turned support holds, up trend from 123.94 (2020 low) is expected to continue. On resumption, next target is 138.2% projection of 148.93 to 172.11 from 155.33 at 187.36, and then 195.86 (2015 high). Nevertheless, firm break of 172.11 will argue that larger correction is already underway.

Daily Pivots: (S1) 155.64; (P) 156.13; (R1) 156.39; More....

Intraday bias in EUR/JPY is turned neutral with current retreat. On the upside, above 157.19 temporary top will resume the rebound from 153.32 to retest 157.99 high. Firm break there will resume larger up trend. On the downside, below 154.86 minor support should resume the corrective fall from 157.99 through 153.32 support, to 55 D EMA (now at 153.10) and below.

In the bigger picture, as long as 151.60 resistance turned support holds, rise from 114.42 (2020 low) is in progress. On resumption, next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. Nevertheless, sustained break of 151.60 will argue that larger correction is already underway.

Daily Pivots: (S1) 1.6347; (P) 1.6452; (R1) 1.6522; More...

Intraday bias in EUR/AUD remains neutral but further rally is in favor with 1.6231 support intact. As noted before, correction from 1.6785 should have completed with three waves down to 1.5846. Above 1.6601 will resume the rise from 1.5864 to retest 1.6785 high next.

In the bigger picture, with 38.2% retracement of 1.4281 to 1.6785 at 1.5828 intact, rally from 1.4281 is still in progress. Firm break of 1.6785 will confirm rise resumption. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. On the other hand, rejection by 1.6785 will extend the corrective pattern with another fall leg. But outlook will stay bullish as long as 1.5828 holds.