GBP/USD continued yesterday's rally on more-than-forecast Manufacturing PMI (52.1 act./50.1 est.), breaching the daily market participants' mean (1.5754).
The pair rebounded today despite the fact the annual average cash earnings were released higher than expected (-0.2% act./-0.3% est.), causing the pair to pierce the daily forecast mean (99.97).
The single European currency advanced today versus the American dollar, piercing the daily forecast (1.3103) as the gap between the German / peripheral Eurozone countries bond yields narrowed.
The currency couple has held above 0.9192 (100 day ma) and is expected to crawl higher. In case USD/CHF climbs over 0.9230, bullish impetus may strengthen, allowing for gains up to 0.9400 or even 0.9435.
USD/JPY continues to trade near a key support line situated at 76.00. In case it is violated, the next level at 75.35 will come into play. From above the currency pair is capped by resistances at 77.50 and 77.80.
The Cable's bullish momentum seems to be weakening ahead of resistance area at 1.5770/80. Subsequent levels are at 1.5810 and 1.5890. Dips should be limited by supports located at 1.5640 and 1.5520.
After bouncing off a formidable resistance at 102.55/60, EUR/JPY is likely to maintain its current southward course. On its way down the pair will encounter supports located at 99.00/98.90 and 98.80/75.
The initial support is located at 1.3000, this level is rather strong and is unlikely to be broken at the very first attempt. Resistances, on the other hand, may be found at 1.3243 and 1.3387.
The pair pierced the market participants' target (0.9167) as UBS consumer confidence increased to 0.92, comparing to previous 0.78 level.
The Japanese yen appreciated today on more-than-expected annual household spending (0.5% act./-0.1% est.) and strong preliminary industrial production (4.0% act./2.8% est.) after touching the daily forecast mean (76.41).
1.5702 target was hit today on less-than-forecast UK M4 money supply (-1.4% act./0.3% est.).
EUR/JPY embraced losses today as weak macroeconomic data from the Eurozone discouraged investors; thus, the daily forecast mean (101.50) remained intact today.
The shared European currency lower today against the American dollar today and pierced the daily forecast mean (1.3146) on weak French consumer spending (-0.7% act./0.3% est.) and German retail sales (-1.4% act./0.9% est.).
The currency couple is anticipated to stabilise near 0.9080/65 and commence recovering. A break of resistance at 0.9185 would reignite bullish momentum which in turn would drag the pair up to 0.9340.
Support line at 76.22 is being pressured at the moment. Nonetheless, it should remain unbroken and defend subsequent levels - 75.31 and 75.00/74.90. In the long-term USD/JPY is perceived as bullish despite its current weakness.
GBP/USD is expected to make an attempt to break through a tough resistance situated at 1.5770/80. In case the currency pair is successful, it will target 1.5810 and 1.5964 next. Supports at 1.5645 and 1.5570 should cover losses if any occur.
EUR/JPY did not manage to challenge a strong resistance area at 102.55/60 and is now selling off. The initial support level is located at 99.00/98.90, though the dip might extend down to 97.05.
A close below 1.3120 would indicate the end of bullish correction and continuation of Euro's depreciation. The price should then fall to 1.2900/1.2855 and eventually tumble down to 1.2530/90.
The British Pound declined today after touching the daily forecast mean (1.5710) as the US m/m personal income (0.5% act./0.4% est.) and monthly Core PCE Price Index rose (0.2% act./0.1% est.) continues its recovery as the annual inflation index was released in line with economists forecast (4.2% act./4.2% est.).
101.24 was touched today though the pair erased earlier gains as Greece did not close the debt deal on Monday.
EUR/USD commited a decline today as Merkel said no Greek creditor deal will be closed today; it caused the pair to pierce the daily mean (1.3191).
The pair traded lower today on less-than-expected monthly change in personal spending (0.0% act./0.2% est.), leaving the market participants' daily target (76.86) intact.
The American dollar continued trading in a bearish trend versus the Swiss Franc today as monthly change in US personal spending disappointed investors, causing the pair to hit the 0.9143 target.
USD/CHF is anticipated to maintain its current southwards course toward 0.9080/65. This level should provide sufficient support and will not be breached. Resistances are at 0.9220 and 0.9320.