Today pair is caught between 0.8098 and 0.8148 and can't successfully breach any of these levels. It is likely that such situation will remain till the start of new trading week unless USD trade balance data will have effect on the development on the pair. In longer time horizon it is likely that the pair will continue to devalue and drop to SMA200 level around
Pair has been depreciating for third consecutive day now, but technical indicators on 1W outlook allow us to expect recovery of the pair starting from the next week. After breaching parity level pair has been losing momentum and it seems that weekly pivot of 0.9918 might be the barrier from which the pair will bounce off and try to return above the parity.
AUD/USD is holding ground right nowslumped lower yesterday, though today is managed to cover some of the previous daily losses while advancing towards 1.0574 (23.60% Fibo). A breakout here would expose the second and third resistance levels at 1.0629 (Upper Bollinger band) and 1.0668 (R2 Weekly), respectively.
The Euro moved lower against the Japanese Yen, commencing a bearish correction. If bearish momentum holds, 96.18 (Upper support line) is likely become an initial support level for bearish traders. A breakout of this level would expose 95.14 (Lower Support line) and 92.93 (S2 Weekly), respectively.
Yesterday's small bearish correction was stopped today, and now another bullish reaction takes place. As for now, the price is heading towards the monthly R1 at 83.06, which might bring some bearish momentum. In case it fails to stop the movement upwards, then next resistances at 83.57 (Weekly R1) and at 83.79 (upper Bollinger band) will probably reverse the current
USD/CHF is crawling higher along an uptrend support line and 55 day SMA, while volatility in the markets has vanished ahead of the weekend. An initial obstacle lies at 0.9738/40, followed by a resistance zone at 0.9790/0.9825, while likely further advancement of the pair will encounter a much more stronger area at 0.9954/1.0003.
Gravity of 78.08/77.98 does not permit USD/JPY to leave its vicinity, implying continuation of a downtrend. On the other hand, supports that lie below are formidable, given their proximity to BoJ intervention levels. Nonetheless, the currency pair stays above 78.43/39 and preserves potential to reach out for 79.29/50, breach of which in turn would restore bullish outlook.
The price is approaching a congregation of resistances at 1.5731/79, which is viewed impenetrable at the moment, being that medium and long-term indicators are bearish. Accordingly, the cable is likely to bounce off the resistance area strongly and then retreat to 1.5624/1.5599, while additional supports are located at 1.5565 and 1.5517.
EUR/USD remains unable neither to overcome an initial resistance at 1.2402 (55 day SMA) nor to push through the nearest support at 1.2337/34. In the short-term the currency pair may try to climb over 1.2402 and aim for 1.2612/44, but will be capped there. A dip below 1.2337/34 and its subsequent extension towards 1.2060/1.9996, however, is our favoured scenario.
The GBP/JPY currency couple has continued its movement within the falling wedge pattern, and a breakthrough out of the pattern soon is expected. Yesterday's rally was stopped and today a small bearish reaction takes place. As for now, the price is slowly approaching the 20-day SMA at 122.52, which might stop the bearish tendency. In case it fails to reverse
AUD/JPY has already for some time been following the rising wedge pattern, and now the price has almost reached the upper end of the wedge, therefore a soon breakaway could be expected. Today the bearish trend renewed its movement, and now the currency couple is slowly moving towards weekly PP at 82.57, which might reverse the bearish tendency, however, in
EUR/CAD continues its movement within the price channel, which was formed two weeks ago. As for now, the bearish trend, which started two days ago keeps advancing, and now the price is about to confront the lower Bollinger band at 1.2287, where the downtrend might be reversed, but if it fails to stop the bearish tendency, then next support at
Pair transited in to bearish sentiment which is expected to last until the pair reaches the 0.8098 level, which it tried to breach 4 days on its way up last week. It is possible that after this level the pair will devalue as fast as it appreciated last week and will reach 0.8005 in next few days after the event.
The US dollar plummeted for the fifth day in a row, and it seems it will remain under a downward pressure. However, if a bullish trend continues, 1.0023 (PP Weekly) might become the first resistance level for bulls, followed by 1.0079 (200-day SMA) and 1.0119 (50% Fibo) in case of a successful breakout.
AUD/USD slumped lower yesterday, though today is managed to cover some of the previous daily losses while advancing towards 1.0574 (23.60% Fibo). A breakout here would expose the second and third resistance levels at 1.0629 (Upper Bollinger band) and 1.0668 (R2 Weekly), respectively.
The single European currency traded flat versus the Japanese yen today. If a bullish trend emerges, 97.93 (61.80% Fibo) is likely to become the first resistance for investors, and if it is successfully pierced, a path towards 98.43 (Upper Bollinger band) and 100.53 (100-day SMA) will be cleared.
Yesterday's bullish correction failed to continue today, and now a bearish movement takes place. EUR/AUD already managed to break through the weekly PP at 1.1716, and now it is about to challenge the lower Bollinger band at 1.1671, which might slow down the downward tendency. In case it is breached, then next support at 1.1657 (weekly S1) will probably reverse
The cable received strong bullish impetus from a 55 day SMA at 1.5590, ahead of an uptrend support at 1.5540/17. However, the currency pair was unable to close above 1.5608/24 and should stay calm for now. In case GBP/USD commences robust recovery, it will encounter a formidable resistance at 1.5731/73, which has remained intact for more than two months.
USD/CHF is flat and unwilling to make a distinct move at the moment. Leg up has a higher chance of appearing, though, judging by technical indicators, we might observe some more wobbling prior to a full-blown rally. An initial resistance is at 0.9729/40, while subsequent levels are located at 0.9793/0.9825 and 0.9954/1.0003 and will hamper appreciation of the greenback.
USD/JPY has effortlessly pierced through 78.43/42, but failed to penetrate 78.71 and the price is currently drifting lower. The pair is expected to make another attempt to erode the nearest resistance and get closer to a key level at 79.49/50, overcoming which would imply medium-term bullish behaviour, though additional resistances at 78.92/79.11 and 79.29 will have to be breached.
EUR/USD continues to consolidate just below a 55 day SMA at 1.2406, but is nevertheless unlikely to overcome it and then resume advancement towards a key resistance at 1.2618/44, being that most of indicators on a weekly timeframe give "sell" signals. An interim support lies at 1.2337/34, followed by 1.2264/26 and 1.2060/1.1996.
EUR/AUD currency pair experiences another bullish reaction today, after the recent decline was stopped at 1.1729, and now the price is facing a 20-day SMA at 1.1768, which might change the presently established tendency. In case it is broken, then the currency couple might reach monthly R1 at 1.1827, which will probably reverse the bullish tendency. Moreover, RSI indicator went out of the over-sold area
A small bearish correction, which occurred yesterday, has ended, and now the EUR/CAD currency pair regained its bullish momentum. If the rally prevails, then the price might reach 1.2439 (Price channel resistance), which is likely to reverse the trend, however if it fails to stop the uptrend, then next resistance at 1.2503 (upper Bollinger band) will probably bring some bearish impulse. Nevertheless, RSI indicator shows neutral
For a couple of weeks AUD/JPY has been following the rising wedge pattern, and yesterday's decline was stopped by a weekly PP at 82.61, where the price reversed its movement direction. As for now, the currency pair confronts monthly R1 at 83.06, which might slow down the bullish trend, but if it is breached, then next resistance at 83.28 (Psychological) will probably change the prevailing