Home Forex Analysis And Forecasts Intraday Outlooks For EUR/USD, GBP/USD, AUD/CAD - SEB

Intraday Outlooks For EUR/USD, GBP/USD, AUD/CAD – SEB

The following are the intraday outlooks for EUR/USD, GBP/USD, and AUD/CAD as provided by the technical strategy team at SEB Group.

EUR/USD: In-range negative bias. The market remains well tucked in and refs at 1.1450/1.1499/1.1534 or preferably at 1.1278/1.1270/1.1262 must give way to show direction. A lower break would target a lower parallel/Equality point at 1.1185 next.

EURUSD

GBP/USD: Contesting dynamic resistance…and last week's Doji candle. The faster moving (Fibo-adjusted) 8day Tenkan-Sen seems to provide near-term dynamic support enough to carry the pair back to last week's high, the high end of the Cloud and above the 55day moving average band (1.5285/1.5395). An 'Upper Range Extension' (topside violation of the opening hour range) today would target a trendline at 1.5525 and an Equality point at 1.5560 next.

GBPUSD

AUD/CAD: Targeting a 'B-wave high' at 0.9964. A Jan-Feb correction correction lower in the cross is likely over, but a counterbreak back above the 'B-wave high' at 0.9965 is needed to confirm this. Some near-term selling is going through at the high end of the short-term bullishly tilted 8fa) Cloud, but there should be support shoring up mild losses no later than at the lower end of this dynamic support zone (0.9730). Current intraday stretches are located at 0.9750 & 0.9850.

AUDUSD

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