The euro is weakening against the greenback, testing medium-term support at $1.30. Failure would indicate a test of primary support at $1.26 and continuation of the down-trend. Respect is unlikely, but would suggest a test of the declining trendline.
* Target calculation: 1.26 – ( 1.35 – 1.26 ) = 1.17
Pound Sterling rallied against the Aussie Dollar, testing the new resistance level at $1.50. The down-trend is likely to continue and breach of the rising trendline would warn of another decline, with an immediate target of $1.42*.
* Target calculation: 1.46 – ( 1.50 – 1.46 ) = 1.42
The US Dollar is approaching its target of ¥85 Japanese Yen. Expect retracement to confirm the new support level at ¥80, followed by an advance to ¥90*.
* Target calculation: 85 + ( 85 – 80 ) = 90