EUR/USD: Selling interest ahead of resistance near
1.1475 has encouraged us to adopt a more bearish view. Our initial
downside targets are near the 1.1085 range lows.
USD/JPY: No change. We are overall bullish and would
prefer to buy dips within range against the 118.65 area. A close above
120.85, the 200-dma, would confirm upside traction and encourage our
bullish view. Our initial targets are towards 121.75 and then the 123.35
area.
AUD/USD: Similar topping candles on Thursday and
Friday are keeping us bearish. We are looking for a move lower in range
towards targets near 0.6975 and then the 0.6895 lows. Further out we are
targeting the 0.6770 area.
USD/CAD: Our overall bullish view was encouraged by
Friday's basing candle. We expect the 1.2950 range lows to provide
buying interest for a move towards the 1.3355 highs and then our targets
in the 1.3465 area.
