EURUSD

The EURUSD has risen above 1.21 but needs to break above 1.2150 in order to re-initiate an upward movement towards 1.22/23 again in the near term. While below 1.22/1.2150, we cannot rule out another possible dip to 1.20 in the medium term. Watch price action near 1.2150.

GBPUSD

The GBPUSD has support at 1.36 and while that holds the currency could remain within 1.36-1.3750/1.38 for the near term. Note that 1.3750-1.38 is an immediate resistance and while that holds, Pound could range in a narrow 1.36-1.38 for the near term.

USDJPY

The USDJPY has risen well, but it is tending to resist at current levels. . If the upward momentum remains intact today, the pair could break on the upside leading to a possible rise towards 105 in the near term. Only an immediate reversal from here could take it back to 104 or lower.

AUDUSD

The AUSUSD has tested support on the 3-day candles at 0.7592 and while that holds, a brief bounce to 0.77-0.78 looks likely just now. Failure to hold above 0.7592 would make Aussie vulnerable to a fall towards 076/0.75 in the medium term.

USDCAD

USDCAD is rebounding from a short-term low of 1.2588 and the intraday bias for the next resistance zone of 1.2957 / 94 is reversed. The crucial break will be the debate on whether to correct the overall 1.4667 trend. Another uptrend will be seen at a cluster resistance of 1.3389 (38.2% retracement of 1.4667 to 1.2588 at 1.3382). On the other hand, a modest support interval of 1.2684 will argue that recovery is complete and 1.2588 will be the minimum test.

WTI

WTI crude oil prices continue to maintain a sideways range within the 53.77 and 51.87 levels. Prices attempted to make some modest gains, oil prices are giving back those gains. The current slide could see the lower end of the range being tested once again What stopped the work of the previous uptrend can be seen in the breakdown of the current stability. The general trend remains mixed but a break below the 51.87 level could result in a possible correction to the 49.00 level. Conversely, above the 53.77 level, we can expect the price to test the next 55.00 level.

XAUUSD

The precious metal is trading the levels 1839 and 1851 today. After losing the 1850 handle, gold prices are struggling to back level once again. However, the pace of the rebound remains weak. In the medium term, gold prices are firmly above the 1817.79 level of support. As long as this support holds, we expect the precious metal to possibly rise toward the 1874 handle. But in the near term, we could see price action consolidating around the 1850 level for a while.