Originally published by AxiTrader
EUR/USD remains under pressure, but it is looking quite oversold in the near-term. Keep an eye on the 1.07 level and the Daily chart, as it signals a possible bullish RSI divergence. EUR/USD failed at 1.0820 today, and it will take a clear break above 1.0850 to trigger a larger short squeeze. To the downside, there is not much support until 1.0520 if 1.07 breaks.
EURUSD.Daily
EURUSD.Weekly
The USD/JPY rally also looks stretched in the short-term, and there is negative RSI divergence on the Hourly. The next significant resistance level now lies at 110, and it is likely that we will see a test of it soon, but overall, it would be healthy for USD/JPY to have bit of a correction. Immediate support is seen at 108.65, followed by the 107.40-75 area, which is key now. To the topside, above 110, there is not much resistance until 111.50.
USDJPY.H1
USDJPY.Weekly
AUD/USD was rejected off the former support trendline, which now has become resistance. The short-term technical outlook remains mixed. While AUD/USD failed many times above 0.77 in the past few months, there hasn't been much downside momentum either. 0.75/0.7780 are the key levels to watch.
AUDUSD.H4
USD/CAD reversed as the rally in Crude Oil supported the Canadian Dollar. Support is now seen at 1.3385, and a break below would pave the way for a 1.3265 test.
USDCAD.Daily
EUR/JPY is also a pair to keep an eye on, as it broke above a key resistance area today. Immediate resistance is seen at 118.45, but it seems that EUR/JPY could finally gather some momentum after four months of consolidation.
EURJPY.Daily
In USD/MXN, it will be interesting to see how it reacts at 19.90, which previously acted as key resistance level. While it does look overbought in the short-term, the technical outlook remains bullish overall.
USDMXN.Daily