AUD/USD beat strong resistance at the March high at 7430/40 to test very strong resistance at 7480/90. Shorts need stops above 7510. A break higher is a medium-term buy signal. Shorts at 7480/90 target 7440/30, perhaps as far as 7380/60.
GBP/USD breaking above 1.3215/25 was our buy signal targeting 1.3300/20—hit overnight as I write. Eventually we could reach as far as resistance at 1.3400. A pullback to the neckline at 1.3230/20 is a buying opportunity with stop below 1.3300.
EUR/USD holding first resistance at 1.1045/1.1060 is a sell signal targeting 1.0975/65 then 1.0910/00. This is not support so if we continue lower, look for 1.0850 before a retest of the March low and the important 5-year trend line support at 1.0825/05. Longs need stops below 1.0780. Shorts at 1.1045/60 stop above 1.1080. A break higher targets resistance at 1.1120/40.
USD/CAD tests strong support at 1.2600/1.2580. Longs need stops below 1.2550. A break lower is a sell signal targeting 1.2485/75. Longs at strong support at 1.2600/1.2580 target 1.2670/80 then first resistance at 1.2700/20 for profit-taking before the weekend.
