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

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

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

EUR/USD: Watch both 1.1270/62 & 1.1499/534. Trendline support was shown respect and an intraday/inter-range impulse higher emerged. Besides that – nothing new. Come back on a sustained move outside known parameters at 1.1270/62 or above 1.1499/534 above.

EURUSD

USD/CAD: Down-before-up. A recent nearby low and the 21day 'Kijun-Sen' are under pressure within what is best labeled an 'a-b-c' correction lower – ideally targeting 1.2250, alternatively also the Jan mid-body point and a short-term 127.2% Fibo extension ref at 1.2165/25. Back over 1.2697 is likely ending the correction south and sets focus back on 1.2800 and levels beyond. Current intraday stretches are located at 1.2310 & 1.2500.

USDCAD

NZD/USD: Some additional gains likely. Underpinned by a 10% price increase in yesterday's dairy auctions the pair managed to hold on to gains back into the former falling channel. The close in the channel has paved the way for additional gains (which also goes well with our view of new lows in the AUD/NZD cross) towards primarily 0.7588.

NZDUSD

GBP/USD: Hindered by the 55d ma band. Following the bearish key day reversal on Monday (which also created a failure above the bearishly sloped 55d ma band) the market became more of a two way market yesterday. We are however looking for downside resumption (short term a move above 1.5404 will prolong the current correction some) and breaking below 1.5317 will likely fuel a move south.

GBPUSD

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