For the second half of May monthly S3 level was keeping the exchange rate more or less stable.
If we are to connect the troughs the price charted over May, we would get an accelerated up-trend that has been just breached.
"The slide in the Australian dollar has been large, but it's not the only one, most commodity and emerging currencies have fallen significantly in May."- RBS (based on the Australian)Pair's OutlookA short two-day recovery has been completely negated today, as the price came back to the support at 0.9577/37, 2012 low. Considering Aussie's behaviour for the past two months, the
For now EUR/JPY manages to hang above the April high, but there is a substantial risk of the currency pair failing to find sufficiently strong support not to fall down to 127.73/65, a February high.
Bullish sentiments have failed lately, since the U.S. Dollar depreciates precipitously, breaking through major supports.
The pair is on the decline for a second week, as the price retreated from a 104 benchmark to a 100.62 is to face the resistance around a 100.44 level, where currently the Bollinger band is located.
The Cable was higher yesterday, as the exchange rate increased till a 1.5234 level, where the 20-day SMA merges with the major historical resistance level.
The major currency pair sharply strengthened for a second trading session yesterday, as the price easily went through the 55-day SMA at 1.2995 and reached a 1.3040 level, where the 100-day SMA merges with the monthly pivot point.
Today the pair performed interesting moves in the market, as the price dropped sharply to a previous low at 0.8007 and instantly reversed the loss.
This week the pair is driven by strong bearish sentiments, especially today, being that the price dropped from a 1.0355 level towards a support of a previous dip at 1.0305.
After a spike down yesterday, the Aussie strengthens for a second trading session, as the price touched upon the historical support at 0.9661.
The pair is traded around the 20-day SMA at 131.70, which stands for the middle point of the Bollinger band.
USD/JPY continues to gravitate towards 99.98/79 and the short-term rallies that appear on the chart are highly unlikely to knock the pair off the course south.
Failure of the currency pair to climb over the resistance at 0.9799/73 has led to a precipitous decline down to Mar 14 high (0.9567), below which the bearish correction of the move started on May 2 should not extend.
Support at 1.5002 plays the same role for the Cable as 1.2837 in EUR/USD and does not allow bears to push the price lower, to a Mar 12 low at 1.4829.
Yet again a support level at 1.2837 proved to be impenetrable, sending the price back to the 55-day SMA, which in turn is also not letting traders to profit from larger moves.
After being depressed below 0.81 for a full trading week the pair managed to breach this level today.
After a significant consecutive gains in last few days, pair did not manage to advance above 1.04 where it can be found today.
After a failed attempt to advance above 0.97 yesterday pair dipped 130 pips.
Pair did not manage to extend its yesterdays gains as it met strong resistance with the 20-day SMA at 131.51 which sent the pair to a 100 pip dip; it already lost almost all of yesterdays gains.
The pair is driven by an upward momentum, yesterday the price rose to weekly R1 at 0.9774. Investors continue to push the price of the U.S. Dollar higher, the most preferable currency in comparison with its major counterparts at the moment.
Yesterday the pair rebounded from the 20-day SMA at 101.44 and nearly reached the weekly R1 at 103.00.
The British Pound depreciates further today, as the price slipped through a previous low at 1.5013.
EUR/USD was pushed down from the 20-day SMA at 1.2932 during yesterday's New York trading session and reached the weekly S1 at 1.2837.