The Euro is undecided about its recent show of strength and is likely to re-test medium-term support at $1.30. Failure of $1.30 would complete a head and shoulders pattern, visible on the Daily chart (shoulders at $1.33), testing primary support at $1.26. But recovery above $1.33 remains as likely and would signal another test of $1.35.
Pound Sterling is testing resistance at $1.60 and recovery of 63-day Twiggs Momentum above zero would indicate a primary up-trend. Confirmation would only come, however, from breakout above $1.62.
The Greenback is retracing to find support after a strong advance against the Yen over the last 6 weeks. Respect of support at ¥80 would confirm a healthy primary up-trend.
* Target calculation: 80 + ( 80 – 75 ) = 85