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USDCHF
The recovery from 1.0131 (January 11 low) is approaching a big resistance at 1.0508 (December 17 high), and a move above there would have the bull trend taking aim at 1.0701 (0.382 of 1.1967-0.9918) to 1.0721 (1.0131 plus 0.9918-1.0508). The next intraday support is at 1.0357 (0.382 of 1.0131-1.0496).
AUDUSD
The wave ((c)) of 2 corrective leg down from 0.9328 continues to press toward the bottom end of the 0.9077 (wave ((c)) equal to 1.618 of wave ((a))) to 0.8962 (0.618 of 0.8735-0.9328 wave 1 advance) support band. As long as the latter level holds, odds say the next big move will be higher. Initial resistance is at 0.9115 (0.382 of 0.9328-0.8983), but it'll take a move above 0.9196 (0.618 of 0.9328-0.8983) for confirmation of the bull trend's return.
USDCAD
The recent recovery from 1.0225 (January 14 low) is within striking distance of the tough resistance band from 1.0548 (0.618 of 1.0747-1.0225) to 1.0578 (reaction high from December 30). Short-term patterns say it'll hold, but only the break of the bottom of a recent congestion area at 1.0439 would give us confirmation. EURJPY: The wave (iii) drop from 134.58 pushed through support from 127.54 (December 18 wave b low) to 126.92 (November 27 wave (i) low). There's little support below there till 124.39 (April 28 low) and then 122.47 (0.618 of 112.12-139.22). Intraday resistance is at 129.26 (0.382 of 133.64-126.56).
EURSEK
The move above the small resistance at 10.1588 (January 19 reaction high) has the bear trend taking a breather, but only a move above 10.2561 (January 12 reaction high) would shift my focus away from the 10.0457 (September 23 low) to 10.0394 (0.618 of 8.9576-11.7896) to 10.0366 (August 26 low) strong support cluster.
USDSGD
The corrective recovery from 1.3846 (January 13 low) moved above 1.4017 (0.618 of 1.4123-1.3846), putting my bearish view on hold. Only a move above 1.4123 (December 23 high) would likely turn the trend higher. USDZAR: Corrective action from 7.2495 (January 5 low) pushed above 7.5710 (0.618 of 7.7697-7.2495), exposing 7.6469 (0.764). Gold: The break of 1095.39 (0.764 of 1074.88-1161.80) proved my recent bullish stance wrong. The next support is 1086.05 (December 30 reaction low) ahead of the big one at 1074.88 (December 22 low)
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