EUR/USD: Neutral: Bullish only if daily close above 1.1005/10.
We are sticking to view wherein only a daily closing above 1.1005/10 would shift the current neutral EUR outlook to bullish (closing was 1.1000 last Friday).
That said, the undertone for this pair is positive and the odds for a sustained up-move in the coming days are rather high especially if we continue to hold above 1.0900.
GBP/USD: Neutral: Corrective rebound target at 1.4230 met, recovery could extend further to 1.4400.
We highlighted last Thursday (when spot was at 1.4085) that the corrective rebound could extend to 1.4230. This level was exceeded with a high of 1.4249 on Friday. With no sign of weakness just yet, the current recovery could extend further to 1.4400 (1.4300 is a strong resistance).
Only a move back below 1.4050 would indicate that the prevalent upward pressure has eased. Overall, the current movement is reminiscent of the price action in early February where the corrective rebound extended to 1.4672 before topping out.
AUD/USD: Bullish: Next target at 0.7480.
The immediate target at 0.7385 was easily exceeded as AUD surged to a high of 0.7444 on Friday (edging above the strong 0.7440 resistance). While the outlook is still clearly bullish, overbought short-term indicators could lead to a couple of days of consolidation first.
The next objective is at 0.7480 followed by the rather major level of 0.7535.
USD/JPY: Neutral: In a broad 112.50/114.55 range now.
There is no change to the neutral view as USD traded in a range last Friday.
As indicated previously, only a clear break out of the expected 112.50/114.55 would indicate the start of a directional move.
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