EUR/USD: No change. We are overall bearish and would use upticks as an opportunity to sell at better levels. Resistance near 1.1045 is expected to generate selling interest. Our downside targets are towards 1.0675 and then the 1.0460 year-to-date lows.
USD/JPY: Consecutive “doji” candles signal lack of directional traction. We are neutral in the short term. Risk is a move lower in range towards 123.00, possibly 122.00, before a base can form. We would buy dips against the 120.40 lows and look for a move towards the 125.85 highs.
AUD/USD: Our bearish view was endorsed by the break below support near 0.7325. Further downside is expected through our initial targets near 0.7265 towards the 0.7100 area.
NZD/USD: Thursday’s “shooting star” against the 21-dma (near 0.6675) encourages our bearish view. We look for a move towards the 0.6495 lows towards our targets in the 0.6400 area.
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