The Cable is likely to continue falling down, given its recent failure at a key resistance located at 1.6067. The initial target for the pair is at 1.5759, while subsequent goal may lie at 1.5599 or even at 1.5412, provided that bearish momentum strengthens.
Being that the currency pair has dropped down to 108.03, it is now expected to reach 107.73 in the short run. Additional support is provided by 105.93/65, while resistances may be found at 109.51 and 109.95.
EUR/USD is currently facing a support at 1.3136. In case this level is breached, we might observe a dip to extend to 1.3004 or 1.2974/54. Rallies are to be contained by resistances situated at 1.3366, 1.3385 and 1.3417.
Yet another fruitless attempt to pierce through 111.57 implies EUR/JPY is likely to pull back to 107.83, where it should stabilise and regain strength. Supports are situated at 108.49, 107.83 and 105.65.
EUR/USD has sold off from a resistance at 1.3385 down to 1.3201 (55 day sma) and is now expected to extend its losses. The immediate support may be found at 1.3127, while subsequent levels are located at 1.3004 and 1.2974/54.
USD/CHF has recovered from 0.9000 and is currently close to 0.9140 (55 day sma). In case the pair manages to hold above 0.9066, it should then continue climbing higher. Additional resistances are at 0.9179 and 0.9263.
As long as supports at 81.55 and 81.09/00 remain intact, the outlook for the currency couple is positive with the possibility of attaining 83.31/40 in the near-term. Above the latter level we are likely to observe a rally up to 84.19 or even 85.53.
Inability of the currency pair to penetrate a tough resistance at 1.6067 resulted in a dip to 1.5881. Consequently, GBP/USD will now be aiming for 1.5849 (200 day sma) and then for 1.5796 (55 day sma).
Being that EUR/USD currently faces a string of formidable resistances, there is little chance for the currency couple to overcome 1.3375, 1.3428 and 1.3487. Therefore the focus is on supports located at 1.3251, 1.3186 and 1.3133.
USD/CHF has managed to stabilise above 0.9000 and is now expected to rebound. Provided that 0.9066 is breached, current bearish bias will be negated, while penetration of 0.9144 will open a way towards 0.9317/42.
After being rejected at 83.40, the currency pair is currently pulling back to 81.08. In case the latter level does not provide sufficient support, downward move may extend to 80.11. The nearest resistance, on the other hand, is at 82.20/40.
Despite a rally of the Cable up to 1.6067, bullish impetus seems to be unable to push the price any higher. For now the pair should stay above 1.5930, breakout of which would allow for a dip to 1.5741 occur.
Following an unsuccessful attempt to break through 111.57, EUR/JPY is now in the process of a temporary bearish correction, which may last until 107.37 is reached. The initial support and resistance levels are at 108.49 and 109.95, respectively.
USD/CHF traded within the 0.9000-0.9100 price range as the ISM Manufacturing PMI revealed a mild increase.
The American dollar pierce the 83.00 level today after the ISM Manufacturing PMI advanced more than expected, showing the industrial expansion (53.4 act./53.3 est.).
The British pound jumped higher today against the greenback as the pair as the UK Manufacturing PMI indicated an improvement in the property market (52.1 act./50.6 est.).
The shared European currency slipped lower versus the American dollar today as the Eurozone unemployment rate inched higher, beating analysts' expectations (10.8% act./10.7% est.).
EUR/JPY plummeted today as the Italian monthly and quarterly unemployment rates intensified (9.3% and 8.8% versus 9.1% and 8.8%).
USD/CHF has violated a support at 0.9027/16 and may continue to trade lower. In order to negate bearish pressure the pair will have to close above 0.9066, then it would increase the possibility of the price surging beyond 0.9162 (20 day ma).
After bouncing off 81.83, USD/JPY is now well-placed to retest 83.40, above which the pair will aim for 85.53 and 86.80. In the meantime, levels situated at 82.73, 81.97 and 81.83 are expected to provide sufficient support.
GBP/USD is attempting to erode 1.5995, although this break is unlikely to be sustained. Near-term dips should be contained by supports at 1.5850, 1.5842 and 1.5773, while additional resistances are at 1.6037 and 1.6103.
Despite a recent failure of EUR/JPY to overcome resistance at 111.57, the currency couple is anticipated to make another attempt to breach it. Above 111.57 the pair should target 113.15/29. Supports are at 109.33, 108.49 and 107.18.
Rally of EUR/USD is unlikely to appear on the chart on the occasion of the fact that a number of significant resistances are located in close proximity of the current price - 1.3379, 1.3435 and 1.3487. Therefore the price is expected to decline down to 1.2624 within the next three months.
The pair remains pretty resilient after the S&P announcement Greece might require another bailout package to restructure its debt and is capable of approaching the recent high at 1.3449. Inability to move higher would switch focus of the market to the 1.3210/1.3174 area (55-day ma). If bearish mood intensifies, a recent low at 1.3004 might be targeted next.