GBP/USD reversed its trend and quickly appreciated above the 55-day SMA and even reached the 20-day SMA line at 1.6142 yesterday.
EUR/USD pair skyrocketed yesterday, as the ECB has announced that the key interest rate is kept unchanged.
NZD/USD has jumped towards 0.8492/76, but is yet to climb over 0.8453/32 first to test it.
The struggle between bulls and bears drags on without any notable progress, as the pair remains just above 0.9837/08, but is more probable to end with USD/CAD breaching this support in the end.
The price has forcefully dented into a resistance zone at 1.0560/34, but is anticipated to have a hard time getting any further, since a nine-month high is situated nearby—at 1.0624.
EUR/JPY has rocketed from the accelerated bullish trend-line and is already testing resistance at 116.68/35, while 117.90 is also within reach, being the highest level during the last 18 months.
USD/CHF pair has breached a down-side resistance yesterday and continues to move towards a 0.9276 level, where the Bollinger band and the 55-day SMA are located.
USD/JPY pair has performed a noticeable bullish movement in yesterday's session, as the price increased by 120 pips and was very close to the previous high at 88.39.
GBP/USD extends its bearish movement and gradually depreciates along the lower Bollinger line.
The major currency pair continued to depreciate, as the price gradually slips towards a 1.3017/1.2983 area, where the lower Bollinger band, 55-day and 100-day SMAs form a major support level.
Perspectives of NZD/USD in the medium term are from neutral to bullish, since the rising support line should be carried on being respected by the market until March—this view is also reinforced by longer term technical indicators.
USD/CAD continues to trade in a narrow corridor, as market participants stay undecided and wait for more clearer signals to bet either in favour or against the U.S. Dollar paired with the loonie.
Despite the difficulties the pair has been facing lately, the price remains in an up-trend and should soon challenge 1.0560/34, where the it is expected to be strongly bid.
Bulls are likely to be reassured in the positive outlook on the currency pair by the most recent action of the pair, even though the day is not yet closed and it may be too soon to draw conclusions.
USD/CHF pair is bounded by a down-side resistance at 0.9240. The pair has tested this resistance during the previous week, but the Bollinger band prevented a further appreciation. Situation is really vague now, as USD/CHF is just on the resistance line and it is just the second bullish candle after the previous bearish week. Also the price is in the
USD/JPY pair demonstrates a recuperation of bullish sentiments, as the price increases to the weekly PP level at 87.49. The pair is driven by fundamental expectations to see an expansion of monetary easing by the bank of Japan, therefore market is guided only by the RSI indicator, which sends signals about overbought points. Currently, the RSI has a value of
The Cable moves more volatile than the major currency pair, since GBP/USD is already testing the 55-day SMA at 1.6060. Today, the price is already slightly lower than the average and, if the pair closes beneath the SMA, it is likely to see a further depreciation or even a trend reverse. The closest support levels are at 1.6010, the lower
EUR/USD was too weak to overcome a 1.3121 level yesterday, where the monthly PP merges with the weekly PP. As the price demonstrates a lack of bullish impetus to proceed a movement till the 20-day SMA, it is likely to see a recheck of the lower Bollinger band at 1.3037. The lower Bollinger band has already changed a direction by
Recent performance of NZD/USD could be hardly called univocal and steady, with candles having significantly varying sizes and different directions.
Bullish market participants do not seem to be disposed to giving in easily, but resist debasement of the greenback with 0.9837/08 acting as a springboard and initiating short-covering.
AUD/USD finds difficulties in sustaining a constant appreciation and is thus probable to prove to be lacking bullish momentum to successfully challenge 1.0560/34, a scenario which in turn would open a way towards 1.0625 and 1.0680.
Whereas forecasts for the next quarters are substantially lower than the spot price—107, 108 and 109 for Q1, Q2 and Q3, respectively, technical analysis suggests there is still some scope for extension of the rally.
USD/CHF pair's rapid appreciation and a spike above the upper Bollinger band made the price to depreciate. The pair gradually slips towards the 20-day SMA at 0.9170, to balance a bullish and bearish movements. However, price has stuck at a 0.9208 level, where the monthly and weekly PP are situated. Therefore, the situation is vague, as the pair has attempted
USD/JPY has performed a notable decrease yesterday, as the price has slightly passed the weekly PP at 87.49. The major Asian currency pair remains in a bullish trend—above the 20-day and 55-day SMAs, but experiences an oversold situation - the RSI has slipped to 69. The closest support levels are at 86.58, the weekly S1, and the 20-day SMA at