The BOC raised its policy rate by +25 bps, taking the overnight target rate to 1%, in September. While it's the third consecutive hike since the central bank resumed the tightening cycle in June, financial conditions in Canada remained 'exceptionally stimulative' and is consistent with BOC's 2% inflation target. The

Intraday bias in GBP/USD remains neutral for the moment with a temporary bottom in place at 1.5296. At this point, we'd still favor another fall as long as 1.5596 minor resistance holds. Below 1.5296 will target 1.5123 cluster support (50% retracement of 1.4230 to 1.5997 at 1.5114). However, decisive break

USD/JPY recovers mildly after dipping to as low as 83.33 earlier today. With 83.98 minor resistance intact, intraday bias remains on the downside and further decline is still expected to continue towards 80 psychological level. On the upside, above 83.98 minor resistance will turn intraday bias neutral and bring recovery.

Outlook in USD/CAD remains neutral for the moment as the choppy sideway trading between 1.0106/0675 continues. Below 1.0339 will bring another fall. But even in such case, we'd expect strong support from around parity to contain downside and bring another rebound. On the upside, decisive break of 1.0675 will suggest

USD/CHF breached 1.0064 briefly but recovered since then. Intraday bias remains neutral and consolidations from 1.0064 is likely extending further for a while. Another fall is still expected with 1.0237 resistance intact. But we're anticipating strong support there to contain downside, at least initially, and bring rebound. However, sustained trading

EUR/USD recovers mildly after dipping to 1.2658 but still, with 1.2772 minor resistance intact, intraday bias remains on the downside for 1.2587 support. Break will confirm that whole decline from 1.3330 has resumed and should target 61.8% retracement of 1.1875 to 1.3330 at 1.2431 next. On the upside, above 1.2772

Bank of Canada raised overnight rate target by 25bps to 1% as widely expected. One important point to note is that BoC still describe current monetary policy as "exceptionally stimulative" which suggests that the bank's tightening cycle might not be over yet. Though, further rate hike "will be carefully considered

USD/CAD's strong rebound from 1.0339 and break of 1.0470 resistance indicates that fall from 1.0671 might be over. Outlook is turned neutral for the moment. Note that after all, USD/CAD is still bounded inside recent of 1.0106/0675. More choppy sideway consolidations might still be seen. Below 1.0339 will bring another

With a temporary top in place at 0.9180, intraday bias in AUD/USD remains neutral for the moment. Deeper retreat could be seen to 4 hours 55 EMA (now at 0.9062) and below. But after all, another rise remains in favor as long as 0.8860/9028 support zone holds. Above 0.9180 will

EUR/USD's recovery from 1.2587 should have completed at 1.2916 already, just ahead of 1.2921 resistance. Intraday bias remains on the downside and break of 1.2587 will target 61.8% retracement of 1.1875 to 1.3330 at 1.2431 next. On the upside, above 1.2772 minor resistance will turn intraday bias neutral first. But

GBP/USD's strong rebound from 1.5296 indicates that a temporary bottom is at least formed and turns bias neutral. On the upside, sustained trading above 1.5488 resistance will indicate that a fall from 1.5997 is possibly over and will turn bias back to the upside for retesting this high. On the

USD/CHF's break of 1.0064 suggests that recent fall from 1.1729 has resumed. Intraday bias is back to the downside and further decline should be seen towards parity next. Though, we're anticipating strong support there to contain downside, at least initially, and bring rebound. However, sustained trading below parity will pave

At this point, intraday bias in USD/JPY remains on the downside and recent down trend is still expected to continue towards 80 psychological level next. On the upside, above 83.98 minor resistance will turn intraday bias neutral and bring recovery. But after all, break of 85.89 resistance is needed to

GBP/JPY recovers strongly after diving to as low as 127.88. Intraday bias is turned neutral for the moment and some sideway trading might be seen. But after all, upside is expected to be limited below 131.64 resistance and bring another fall. Below 127.88 will target a retest on 126.73 low

EUR/JPY's break of 106.17 support suggests that consolidation fro 105.42 is finished already. Intraday bias remains on the downside for 105.42 and break will confirm that recent decline is resuming for medium term projection level at 103.45 next. On the upside, above 107.04 minor resistance will turn intraday bias neutral

EUR/GBP's fall from 0.8389 accelerates further today and the strong break of 0.8235 support indicates that rebound from 0.8141 has completed at 0.8389 already. Intraday bias is flipped back to the downside for 0.8141 first. Break will indicate that whole fall from 0.8530 has resumed for 0.8 psychological level. On

EUTR/CHF's break of 1.2850 confirms that recent down trend has resumed. Intraday bias remains on the downside and further decline should now be seen to 100% projection of 1.4587 to 1.3072 from 1.3923 at 1.2408 next. On the upside, above 1.2922 minor resistance will turn intraday bias neutral and bring

Yen and Swiss franc are both strong in Asian session today as supported by risk aversion. Asian equities are broadly lower following the -1% fall in DOW overnight, with Nikkei down -2.1%. Markets sentiments continued to be weighed down by renewed worry on Europe's debt problem as yield spread between

EUR/USD'[s fall from 1.2921 extends further to as low as 1.2735 so far today. The break of 1.2776 minor support indicates that choppy recovery from 1.2587 is finished at 1.2916 already. With 1.2921 resistance intact, fall from 1.3330 is still expected to continue. Intraday bias is mildly on the downside

GBP/USD's break of 1.5326 indicates that fall from 1.5997 has resumed. Intraday bias is back to the downside and further fall should be seen to 1.5123 cluster support (50% retracement of 1.4230 to 1.5997 at 1.5114). Decisive break there will confirm our bearish view that rise from 1.4230 has finished