EUR/USD: ST upside potential limited

EUR/USD
The  1.3865/75  resistance  area should cap the upside and force the EUR/USD to point back to the October low of 1.3145.

EUR/JPY
A  break  above  the  108.15/25 resistance area is needed to confirm that the cross is on its way back to the 111.35/95 region.

USD/JPY
We cannot rule out a break below the 77.10 support area and a dip to 76.35,  or  at  most  to the recent low of 75.55, before the USD/JPY points  back  to  its  LT  declining resistance line, which comes at 79.40 this week (-0.40/week).

GBP/USD
GBP/USD should eventually break below 1.5855/75 and head towards the early October low of 1.5270, with a step at 1.5615/30.

USD/CAD
USD/CAD  should  return  to  the  1.0265/75 resistance area and then extend  the  recovery  started at 0.9890 to the 1.0660/75 resistance area.

 

Societe Generale
Research & Analytics