It seems that greenback-franc cross has gained momentum as it has advanced above the 93 cent gauge.
NZD/USD carries on wobbling in the vicinity of the support zone mainly formed by the rising trend-line and the monthly S1.
Despite the assumed unreliability of the weekly pivot point at 1.0462 as the support, USD/CAD stays afloat and at the same time is constantly putting pressure on the monthly R1 at 1.0521.
The movement of the pair is slowing down, but AUD/USD is nonetheless maintaining the downward direction.
Yesterday EUR/JPY closed right above the monthly pivot level, but the ground still appears to be shaky for the currency pair, as it has recently failed to rebound from 130.30/14.
For the past two weeks 20-day SMA kept the pair at bay, but it finally managed to breach it.
Pair is appreciating for a second day in a row after receiving a bullish impetus from the 200-day SMA few days ago.
"The upward move in market expectations of where Bank Rate will head in future could, at the margin, feed into the effective financial conditions facing the real economy."- BOE governor (based on Reuters)Pair's OutlookPair found so needed support with the weekly S2 after double dipping below the 1.55. However, to be on the fair side we, have to agree that
Pair is showing significant bearish sentiment as it lost 120 pips in the last of few days after receiving impetus from the weekly PP.
As suspected, the rally seen a few days ago turned out to be shallow, failing to reach the nearest important resistance at 0.7918/0.7895, the zone formed by weekly and monthly PP with the 55-day SMA.
The resistance in the face of the monthly R1 keeps on preventing every attempt of USD/CAD to rally beyond 1.0512, implying increased pressure on the nearby support at 1.0462 that may prove to be insufficiently strong in order to buoy the price.
AUD/USD has just reached the first notable support at 0.8897/94 after bouncing off the resistance created by the weekly and monthly pivot points.
EUR/JPY fell through the support at 130.30/14 by more than 60 pips yesterday, but the bulls do not seem to have given up and continue to push the price upwards today.
Weekly PP managed to keep the pair stable for some time, but increasing pressure coming from the 20-day SMA did its job.
Pair extended the losses after hitting the 55-day SMA on Monday.
Pair came under substantial pressure after failing at the weekly PP.
Pair remains somewhat depressed under the June high/Bollinger band.
For the time being a rebound from the bullish trend-line at 0.7752/31 does not appear to be an initiation of a robust recovery—NZD/USD again started gravitating towards the support without the price reaching the nearest resistance at 0.7918/0.7895.
USD/CAD does not seem to be in a hurry to move farther north, wobbling just beneath the monthly R1 at 1.0512.
As expected, the currency pair is slowly grinding lower in the presence of the formidable resistance that lies overhead.
The currency pair has already reached the tough support area created by the monthly PP along with the 55 and 100-day SMAs, meaning there is an increased probability the Euro will start to recover.
Pair was giving away some bullishness yesterday, but it seems that the pressure coming from the 20-day SMA will keep the pair at bay.
Pair did not manage to breach and consolidate above the 55-day SMA yesterday.
Pair started the week with a mildly bullish attitude, but did not manage to breach weekly PP yesterday and has already fallen by 60 pips since then.