The following are the intraday outlooks for EUR/USD, USD/JPY, GBP/USD, and AUD/USD as provided by the technical strategy team at SEB Group.
EUR/USD: Still respecting dynamic support. The high end of the (bullishly tilted) short-term "Cloud" (1.1175) remains an obstacle for bears – standing in the way for a move down to the 1.1049/36 pivot area. While nearby nitty-gritty discrepancies in range are sorted out the intraday stretches are located at 1.1150 & 1.1375.
USD/JPY: There is scope for 124.75 before down. The downside risk still lingers, but if making way through local resistance at 123.82, there is scope for a near-term rebound towards 124.63\84 before another downside attempt is made. The near-term bullish possibility would evaporate with a move back under 123.10. Current intraday stretches are located at 122.55 & 124.40.
GBP/USD: Bulls face resistance over 1.5630. The grind higher is still on and the high end of the short term "Cloud" provides dynamic support, but bulls face decent resistance in the 1.5630\700 zone. A bearish looking session close under the average 5day low (1.5465) and or break below the 1.5441/21pivot would likely be enough for bulls to reconsider. Current intraday stretches are located at 1.5465 & 1.5700.
AUD/USD: Seeking a selling opportunity. The current correction/consolidation/right hand shoulder probably has some room left to rise before turning the corner for the next declining phase. We are seeking a move just a few points above the early June peak, 0.7819, in order to complete a common three wave a-b-c upward correction. Once completed the pair is seen breaking 0.7598 for considerably lower levels.
