EUR/JPY is hitting its eleven-year low, and currently is trading around 94.58 after re-emergence of Greek exit talks and turmoil in Spanish banking sector today. A slide towards the 90.00 psychological level will strongly be detained by the lower Bollinger band at 93.60. A small correction is expected by the largest market participants to 65.72/86 with a further slide afterwards.
Since the last report USD/CHF has penetrated several resistances and is about to confirm a break of 0.9906 today, above which it will aim for 0.9960/87 first, then for 1.0018/42. The nearest support is located at 0.9853, followed by 0.9795, though a key level is situated at 0.9692/88, safety of which preserves bullish outlook of the price in the long-term.
USD/JPY is currently grinding down a support area at 78.22/08, after which it is likely to target 77.85, while a lower level at 77.33 has a much lesser chance of being attained, since in general indicators are neutral. Even though resistances at 78.68 and 78.98 are unlikely to come into play, they will attempt to limit rallies en route to
GBP/USD has just confronted a formidable level at 1.5585/83, which should be eroded and then allow further depreciation of the British Pound relative to the U.S. Dollar. Subsequent supports lie at 1.5530/04 and 1.5427/1.5389 and will be even harder to breach, though the pair is expected to regain bullish momentum only near 1.5289/49, consequently, rallies are to remain shallow.
Friday bearishness of EUR/USD has been halted by support at 1.2106. Although, given that majority of technical indicators continue to point to the downside, this level is likely to give in and thus pave the way towards 1.2051 and 1.2012/1.1976. In case of strong recovery the pair will encounter resistances at 1.2187 and 1.2262.
Rally above 0.8021 was not sustained, leading to a precipitous fall of NZD/USD, which might extend beyond 0.7991 (200 day SMA) and reach subsequent support at 0.7960/30, where a consolidation phase should be commenced. In case the pair moves even lower, it will find additional support levels at 0.7884/68 and 0.7835/04, which at the moment remain safe.
Following an encounter with an accelerated downtrend support at 1.0062, USD/CAD commenced a robust recovery, which has already resulted in a 200 day SMA being effortlessly pierced by the pair. Next notable resistance levels are situated at 1.0105, 1.0159/70 and 1.0218 and are viewed as capable of impeding further advancement by partially or even fully negating bullish impetus.
The Aussie dollar is moving higher against the US dollar and at the moment the pair is floating around 38.20% Fibo level at 1.0400. In case bullish momentum strengthens further, investors might encounter the second and third resistance levels at 1.0490 (R3 Weekly) and 1.0574 (23.60% Fibo), respectively.
The shared European currency fell against the Japanese Yen and currently the pair is approaching an initial support level at 96.21 (Upper support line; S1 Weekly). However, if bearish momentum strengthens and the first support line is going to be breached, 95.60 (June 1 Low) and 95.11 (S2 Weekly) are likely to be next.
Following a pullback down to 0.9737, USD/CHF started to gain bullish momentum, signalling termination of a bearish correction and beginning of another leg up. At the moment the pair is struggling at 0.9805, strength of which should be already exhausted, therefore resistances at 0.9873/0.9906 and 0.9940/47 may soon be challenged.
USD/JPY keeps on sliding lower and is viewed as capable of falling down to 78.08/77.97 in near-term as there are no tough levels situated in the interval between it and the interim support at 78.57/52. However, being that daily and monthly indicators turned neutral, the pair may put on hold bearish move and consolidate above 78.57/52 prior to a precipitous
The Cable has stalled at a formidable resistance area at 1.5721/30 after a robust rebound from the nearest support at 1.5650. Since weekly and monthly indicators point to the downside, recently commenced recovery of GBP/USD is likely to come to an end, although the pair might still reach out for 1.5767/90 before its upward momentum is suppressed.
The currency pair stabilised just above 1.2274 and should soon make another attempt to breach this support, given that most of daily technical indicators give "sell" signals. Once the initial level is overcome, 1.2161 and 1.2106/1.2063 will become exposed, but will stand against bearish momentum en route towards a medium-term target at 1.1989.
"Our take on his underlying message remains the same - the Fed stands ready to take further action if needed, but it is not yet ready to do so beyond the June extension of Operation Twist."- Brown Brothers Harriman (based on MarketWatch)Pair's Outlook|The New Zealand dollar jumped higher against the American dollar today, trading above the 200-day simple moving average. As bulls currently dominate the
The US dollar inched lower today against the Canadian dollar and at the moment the pair is floating next to the 200-day SMA (1.0100). In case bearish momentum continues, 1.0078 (32.80% Fibo) is going to be an initial resistance line for currency traders. If this level is left behind, investors might encounter the second and third support lines at 1.0043 (Lower Bollinger band) and 0.9969
The Australian dollar is still trading above the 200-day and it is confidently approaching an initial resistance line at 1.0400. In case bullish momentum strengthens further, investors might encounter the second and third resistance levels at 1.0490 (R3 Weekly) and 1.0574 (23.60% Fibo), respectively.
The Euro continues mildly declined against the Japanese Yen. If bearish momentum intensifies, 96.21 (Upper support line; S1 Weekly) is going to be an initial support level among currency traders. 95.60 (June 1 Low) and 95.11 (S2 Weekly) are likely to be next once an initial level is pierced.
Level at 0.9805 proved to be resilient by forbidding USD/CHF to rally far above it for the last three days. Still, we stick to out view that the pair is bullish in the medium to long term, given that majority of technical indicators give "buy" signals for daily and weekly timeframes at the moment. Nonetheless, USD/CHF may drop down to
The currency pair has penetrated several supports and is currently testing 78.52 - the last obstacle en route to 78.08/77.97. The latter level is unlikely to give in easily, however, if it is broken, there will be no considerable levels until 76.69/39 and the downward move will have a lesser chance to be delayed by bullish corrections and consolidations.
GBP/USD returned back above 1.5650 regardless of an expected sharp dip down to 1.5592/81 yesterday, which in turn confirms its intentions to recommence advancement towards 1.5721/43. There the pair will encounter a confluence of resistances, including 200 day SMA, and supposedly will have a hard time overcoming it. In case the rally fails to extend, supports at 1.5592/81 and 1.5542/21
EUR/USD continues to consolidate just above support at 1.2247 after several repeated attempts to close below it, thus proving to have lack of bearish momentum. The pair is likely to remain flat for now, but should be able to erode the initial level and a subsequent one at 1.2161 in the longer term. In the meantime, rallies are to be
The Kiwi dollar deteriorated against the US dollar today, trading below 200-day simple moving average (0.7983). However, bulls are still aiming to overcome this level, which is also confirmed by 61.80% Fibonacci level. A breach of 0.8021 (R1 Weekly) would clear the way for 0.8054 (Upper Bollinger band) and 0.8158 (R3 Weekly), accordingly.
The greenback slightly pairs previous daily losses against the Canadian dollar, though the downward pressure still weighs on the pair. In case a bullish reversal emerges, 1.0170 (PP Weekly) is going to be an initial resistance line for currency traders. If this level is left behind, investors might encounter the second and third resistance lines at 1.0229 (55-day SMA) and 1.0298 (Upper Bollinger band; R2 Weekly),
The Aussie dollar is trading above the 200-day SMA; currently the pair slightly fell, but the bullish momentum is likely to hold. And if this is the case, investors might test an initial resistance level at 1.0350 (Upper Bollinger band), followed by 1.0385/400 (38.20% Fibo; R2 Weekly) and 1.0574 (23.60% Fibo) if a breakout occurs, respectively.