FOREX TECHNICAL LEVELS

EURUSD - Remains marginally firmer this morning having found support at 1.2723 on Aug 25. The recent rejection off 1.2941, on Aug 21 and subsequent sell-off however is expected to weigh overall with potential seen for a resumption of weakness and a test of the next key support at 1.2695, Aug 14 low. A break of this level would be seen as a significant bearish development while on the topside, clearance of 1.2941 is required to reinstate a bullish theme.

USDCHF - No change here with recent consolidative price action having defined 1.2446, Aug 15 high and 1.2183, Aug 21 low as the key near-term directional parameters.

GBPUSD - probed the 1.9024, Aug 16 peak however a clear break is still required to pave the way for a retest of key resistance at 1.9146, the Aug 8 high. On the downside, support and key bear trigger lies at 1.8775.

USDJPY - Is expected to maintain a positive theme while support at 116.09, Aug 23 low remains intact. The next upside trigger is located at 117.42, Aug 25 high where a break would pave the way for strength towards 117.89, the July 19 high.

USDCAD - maintains a bearish bias ahead of support at 1.1050, Aug 23 low. A break of this level is expected to yield further downside towards 1.1033, Jun 21 low en route to 1.0962, Jun 12 base and ultimately 1.0932, May 31 trend low. Immediate heavy tone dominates below 1.1161, Aug 23 high.

AUDUSD - Intraday support lies at 0.7551, Aug 25 low where a break is now required to expose 0.7524 and 0.7479, the 61.8% and 76.4% retracements of the 0.7406 to 0.7715 advance. On the topside, initial resistance comes in at 0.7673, Aug 23 high.