The following are the intraday outlooks for EUR/USD, USD/JPY, AUD/USD, and USD/CAD as provided by the technical strategy team at SEB Group. EUR/USD: Short covering push prices higher. It certainly looks like that the (for some time) sought upward correction now finally is getting traction. An hourly inverse head and shoulders pattern was yesterday exited breaking above the 1.2699 resistance. The minimum target for the bottom formation, 1.2760, has thereafter been reached but more topside potential lurking with 1.2865/70 being the theoretical h&s target (and at 1.2880 we also find Sept’s mid body point). Reactions ... (full story)