Today AUD/JPY regained bullish momentum. Even though the price has been lately moving within a downward channel, the outlook seems bullish, as today a new 3-month high has already been reached. If the uptrend continues, then the currency couple will face the upper Bollinger band at 82.935 that might prove to be a considerable resistance level for the current rally. However, if it fails to
The New Zealand dollar advanced confidently further and right now 0.8181 (R1 Weekly) is open for bullish traders. Thus, if bullish momentum holds further, 0.8256 (R2 Monthly) is likely to be hit first. A breakout here would pave the way towards the third resistance level at 0.8319 (61.80% Fibo).
Yesterday USD/CAD was trading close to the 200-day SMA at 1.0085, though the currency couple bounced from this line today and currently bears have chances to strengthen a bearish trend. If this is the case, then 1.008 (Lower Bollinger band) is going to be the first support level, followed by 0.9972 (S1 Weekly) and 0.9914 (S2 Weekly) in case of a successful breakout.
AUD/USD slightly recovered, and for now it maintains a bullish inertia. If bulls manage to develop a strong upward trend, then investors might encounter the second and third resistance levels at 1.0581 (R1 Monthly) and 1.0704 (R3 Monthly) as bullish momentum strengthens.
EUR/JPY is remaining neutral for now, though it might reiterate a bullish trend. And if the pair moves higher, 95.81 (PP Weekly) is likely to be an initial resistance line for bullish investors, a breakout of which would expose 96.35 (Upper resistance line) and 98.23 (55-day SMA), respectively.
Following repeated attempts of USD/CHF to commence robust recovery, resistance at 0.9809/25 allowed further appreciation of the U.S. Dollar after a pair's deep pull back down to 0.9711/0.9680. USD/CHF is expected to remain on a bullish path for now and encounter an initial resistance at 0.9923/39, while extension of a rally will require 1.0003 to be broken.
Breakout above a downtrend resistance at 78.37/54 has not yet been confirmed, implying increased possibility of continuation of a downtrend, being that descending triangle is believed to be a bearish formation. Violation of support at 78.06/77.98 will pave the way towards 77.77/63 and 77.34/32, while a subsequent line at 76.68/56 is near previous BoJ intervention levels.
GBP/USD is approaching a significant support level at 1.5472/50, behaviour of the pair near which may define its performance in the medium-term. In case the cable bounces off the support, then 1.5729/81 (100 and 200 day SMA and an uptrend resistance) will soon be retested. On the other hand, if 1.5472/50 does not withstand, 1.5253/24 will be targeted next.
EUR/USD has spiked up to 1.2406/47 yesterday, but was unable to close above resistance at 1.2337/64, which in turn has set in motion bearish tendency, resulting in a support level at 1.2244/22 being breached. Indicators on a weekly timeframe predicate continuation of a downward move, accordingly, the pair is likely to preserve current momentum at least until 1.2099/80.
Bearish tendency, which lasted for the lastthree days was stopped today, and now a bullish reaction takes place. If the movement upwards proceeds, then GBP/JPY might reach a 20-day SMA at 122.700, which might prove to be a strong resistance for the current rally. If it fails to reverse trend back to bearish, then next resistance at 122.900 (Monthly PP) might give some bearish impetus.
Despite being traded within a bearish channel, EUR/CAD currency pair experienced another rally today. Besides, yesterday's dip failed to extend to a new low, as a result, EUR/CAD is presently slowly approaching a 20-day SMA at 1.2367, where it might find formidable resistance. In case movement upwards proves to be strong enough to break the latter level, then next resistance at 1.2443 (Weekly R2) might
EUR/AUD currency pair remains bearish, while slowly approaching Weekly S2 at 1.1653, where it might gain some bullish momentum. In case it is breached, then the Lower Bollinger Band at 1.1619 is very likely to reverse short-term tendency. Besides, RSI indicator has already remained for some time in the over-sold area, therefore trend reversal might occur at any time. On the other hand, current resistance
The Kiwi dollar commenced trading in a flat trend today against the US dollar, though bullish investors do not lose hope to push NZD higher. If bullish impetus continues, 0.8112 (upper Bollinger band) is likely to be hit first. A breakout here would pave the way towards 0.8181 (R1 Weekly) and 0.8256 (R2 Monthly).
Although USD/CAD is trading near a psychological parity level (1.00, the pair managed to continue bouncing from this line and for now 1.0085 might serve as an initial resistance level, confirmed by a 200-day simple moving average. A breach of this line might expose further resistance lines at 1.0157 (100-day SMA) and 1.0257 (PP Monthly), accordingly.
The currency pair laid back a bit, approaching the first initial support level at 1.0406 (38.20% Fibo), though bulls try to establish an upward trend. If this is the case, investors might encounter the second and third resistance levels at 1.0581 (R1 Monthly) and 1.0704 (R3 Monthly) as bullish momentum strengthens.
The pair remains resilient after Mario Draghi's press conference as the EUR/JPY currency pairs is currently trading in a price range of 95.80/96.20. If the pair moves higher, 96.35 (200-day SMA) is likely to be an initial resistance line for bullish investors, a breakout of which would expose 98.23 (55-day SMA) and 99.39 (PP Monthly), respectively.
Without reaching support at 0.9708/0.9677, USD/CHF managed to gain bullish momentum and confront 0.9809/20, though the currency pair appears to have some difficulty at overcoming it, which in turns delays attainment of subsequent resistances at 0.9923/31 and 1.0003. In the meantime, dips should be limited by support levels at 0.9738 and 0.9708/0.9677.
Despite a descending triangle on the chart (the pattern which is commonly believed to be bearish), USD/JPY is attempting to close above a downtrend resistance at 78.37 and commence recovery. If the pair succeeds at breaching the resistance, area at 78.62/80 and a level at 79.11 will oppose further advancement. Still, we may not yet rule out a possibility of
The cable has effortlessly pierced through several supports yesterday, resulting in an accelerated down move, which was only stopped by 1.5533 (weekly S1). Consequently, we expect a bullish correction to occur, though resistance at 1.5573/1.5608 is unlikely to allow the rally to extend, keeping the overall bias bearish. Afterwards, the pair is anticipated to aim for 1.5472/50.
EUR/USD is slowly eroding support at 1.2244/29, which is unwilling to give in easily. Nonetheless, bears are expected to overcome this obstacle and drag the price lower. The initial target lies at 1.2099/89, while subsequent ones at 1.1996 and 1.1896 are likely to be attained in the medium-term. Temporary initiatives of bulls, on the other hand, should end either at
Yesterday's bearish movement turned out to be short-lived, and in the end another bullish reaction took place, however, today EUR/AUD currency pair returned to its bearish tendency and now is gradually moving closer to an initial support level at 1.1654 (Weekly S2). In case it fails to bring some bullish momentum, then next support at 1.1629 (Lower Bollinger Band) might be the reversal point for
Although RSI indicator shows no particular signal, GBP/JPY continues its stable downhill movement, that was started on the 29th of July. The currency couple is slowly approaching a weekly S1 at 121.588, where the currency pair might find support for the bearish momentum. However, GBP/JPY is still expected to continue trading lower , while only a lower Bollinger band at 121.185 might turn out to
Bullish tendency is still in action, and a new 3-month high has already been reached. AUD/JPY currency pair is about to confront an upper Bollinger band at 82.776, where it is likely to find a resistance level for the current upward trend. In case it is breached, then the next resistance at 83.066 (Monthly R1) will probably bring some bearish impetus. At the same time,
Yesterday's bullish correction has ended, and now EUR/CAD currency pair may continue its downward trend, which was started about a month ago. At the moment, EUR/CAD decline might find support at a lower Bollinger land at 1.2281, however, if it is broken, then next support at 1.2194 (Weekly S2) is very likely to create a bullish reaction. In addition, RSI indicator went out of the