I cannot see a support level where I would attempt along anywhere above the May/June low of 6850/27. A break below 6810 however signals further losses to 6760/50.
NZDUSD has key support at 6230/10 (a low for the day just 11 pips above here yesterday). Longs need stops below 6190. A break lower is a sell signal targeting 6100/6080.
We should have strong resistance at 6390/6410. Shorts need stops above 6430.
USDJPY break higher which holds above 135.55 triggers a buy signal targeting 136.40/60 & 136.90/99, perhaps as far as 137.40/50 this week.
We have important support at 135.55/35 (with a low for the day 12 pips above yesterday). Longs need stops below 135.15. A break lower means this may be a false break higher & we will wait for Friday's weekly close to gauge direction in to next week.
EURJPY tests the June high at 144.15/25. Holding this area (a high for the day here yesterday) forms a double top sell signal. However bear in mind that USDJPY beat the previous high yesterday, so there does appear to be continued weakness in the yen. A sustained break above 144.30 should be a buy signal.
With no sell signal yet, the downside should be limited with minor support at 143.40/20 & strong support at 142.5/65. Longs need stops below 142.45.
EURUSD a low for the day at support at 1.0460/50 with a recovery through minor resistance at 1.0545/55 to hold at last week's high at 1.0600/01. The market is drifting without direction for 4 days. A break higher however could make it as far as resistance at 1.0660/62.
Minor support at 1.0460/50 could hold the downside again today. Below 1.0430 however risks a retest of the double bottom low at 1.0360/50. Longs need stops below 1.0325.
USDCAD shot higher to the target of 1.2995/99. Gains are likely to be limited but above 1.3010 can target 1.3030.
Failure to beat 1.3000 increases the chance of the head & shoulders forming, with neck line at 1.2930/20. A break below 1.2910 is a sell signal initially targeting 1.2870/60. We could pause here but longs look risky. A break below 1.2850 risks a slide to 1.2800.
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