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Daily Pivots: (S1) 142.47; (P) 144.61; (R1) 146.01; More....

Intraday bias in EUR/JPY remains neutral at this point. Strong support from 55 day EMA (now at 143.53), and rebound from current level will retain near term bullishness. Break of 148.38 will resume larger rise to 149.76 long term resistance. However, sustained trading below 55 day EMA will argue that larger scale correction is underlying, and target 137.32 support.

In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.76 (2014 high). Decisive break there will pave the way to 161.8% projection of 114.42 to 134.11 from 124.37 at 156.22. This will now remain the favored case as long as 137.32 support holds.

Daily Pivots: (S1) 0.8668; (P) 0.8743; (R1) 0.8785; More...

Intraday bias in EUR/GBP is turned neutral against with current retreat. On the upside, break of 0.8827 will resume the rise from 0.8570 to 0.8869. Sustained break there will pave the way back to retest 0.9267 high. On the downside, below 0.8689 minor support will turn bias back to the downside for 0.8570 instead.

In the bigger picture, current development suggests that fall from 0.9267 is a down leg inside long term range pattern. Deeper fall could be seen towards 0.8201/8338 support zone. But strong support should be seen there to bring reversal. Nevertheless, firm break of 0.8869 resistance will turn favor to the case that such decline is merely a correction in the up trend from 0.8201. That is, further rally would be seen at a later stage through 0.9267.

Daily Pivots: (S1) 1.5326; (P) 1.5489; (R1) 1.5577; More...

EUR/AUD's consolidation pattern from 1.5704 extends with another falling leg. Intraday bias stays neutral first. Downside is expected to be contained by 55 day EMA (now at 1.5245) to bring rebound. Break of 1.5704 will resume larger rise from 1.4281. However, sustained trading below 55 day EMA will bring deeper correction towards 1.4965 resistance turned support.

In the bigger picture, a medium term bottom should be in place at 1.4281, on bullish convergence condition in daily MACD. Further rise would be seen back to 1.6434 key resistance next. Break of 1.4965 resistance turned support is needed to indicate reversal. Otherwise, further rally will remain in favor.

Daily Pivots: (S1) 0.9806; (P) 0.9851; (R1) 0.9882; More....

Intraday bias in EUR/CHF stays neutral as consolidation from 0.9953 is in progress. Downside of retreat should be contained by 0.9798 resistance turned support to bring rebound. On the upside, break of 0.9953 will resume the rise from 0.9407 to 1.0072 fibonacci level.

In the bigger picture, a medium term bottom should be in place at 0.9407. Further rally is expected as long as 0.9641 support holds, even as a corrective rebound. Next target 38.2% retracement of 1.1149 to 0.9407 at 1.0072. Reaction from there, as well as 55 week EMA (now at 1.0121) will reveal whether the trend is reversing.

Silver climbs as the US dollar retreats across the board. A rally above October’s high of 21.20 may have put the precious metal back on track. The psychological level of 22.00 at the start of a sell-off last summer is a major hurdle ahead. A bullish breakout could lay the groundwork for a reversal in the medium-term. However, a bearish RSI divergence indicates a potential loss of momentum as the price grinds the supply zone, where profit-taking could weigh on short-term direction. 20.50 would be the first support.

The Australian dollar rallied as risk appetite made its way back. The pair has been looking to consolidate its gains after it broke July’s high at 1.5400. The new demand zone above 1.5280 and over the 30-day moving average has seen a resurgence of buying interests. However, a bounce above 1.5520 was short-lived and now the ball is in the buyers’ court. 1.5400 is an important line to keep the current rebound valid. Its breach would lead to a retest of 1.5280. 1.5500 is a fresh hurdle before the single currency could bounce back.

The US dollar crumbled after data showed a deceleration in last month’s inflation. Its recent vertical ascent might just need more breathing room. After hovering above 145.10, a sharp fall suggests a mass liquidation from a crowded long trade. As the RSI sank deeply into oversold territory, the price is testing the trough at 140.50 from late September. A valid breakout would put the greenback on a correction course in the medium-term with 138.00 as the target. 144.00 is the first resistance should the price action stabilises.

The Euro started a decent increase above the 1.0050 and 1.0080 resistance levels against the US Dollar. The EUR/USD pair gained pace above the 1.0120 level to move into a positive zone.

There was close above the 1.0150 level and the 50 hourly simple moving average. The pair is now consolidating gains near the 1.0190 zone. An immediate resistance on the upside is near 1.0200. The first major resistance is near the 1.0220 level.

A break above the 1.0220 resistance level could start a decent upward move. In the stated case, it could even surpass 1.0250 on FXOpen.

Conversely, the pair might start a fresh decline below 1.0150. The next key support is near 1.0120, below the pair could decline towards the 1.0100 level. Any more losses might send the pair towards the 1.0050 level in the coming sessions.

Daily Pivots: (S1) 1.3230; (P) 1.3401; (R1) 1.3492; More....

Intraday bias in USD/CAD remains on the downside as fall from 1.3976 is in progress. Strong support should be seen at 1.3207 cluster support (61.8% retracement of 1.2726 to 1.3976 at 1.3204) to bring rebound. Break of 1.3570 minor resistance will turn intraday bias neutral first. But sustained break of 1.3204/7 will carry larger bearish implications.

In the bigger picture, as long as 1.3222 resistance turned support holds, larger up trend from 1.2005 (2021 low) is still expected to continue at a later stage. Break of 1.3976 will target 1.4667/89 resistance zone. However, firm break of 1.3222 will be a sign of trend reversal and target 55 week EMA (now at 1.3016).

Daily Pivots: (S1) 0.6459; (P) 0.6546; (R1) 0.6705; More...

Intraday bias in AUD/USD remains on the upside as rise from 0.6169 is in progress. Break of 0.6680 support turned resistance will carry larger bullish implications. Next target will be 161.8% projection of 0.6169 to 0.6521 from 0.6271 at 0.6841. On the downside, below 0.6512 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, a medium term bottom should be formed at 0.6169. Firm break of 0.6680 support turned resistance will confirm this bullish case. It's too early to call for medium term trend reversal. But even as a correction to the down trend from 0.8006 (2021 high), rise from 0.6169 would target 55 week EMA (now at 0.6952) upon break of 0.6680.