The Euro continues trading in a flat trend against the Yen. If bullish momentum adds to gains, 97.87 (61.80% Fibo) is going to be an initial resistance level among investors. 98.88 (R2 Weekly) and 99.47 (100-day SMA) are likely to be next once an initial level is pierced.
Resistance at 0.9805 withstood bullish pressure and managed to contain the pair yesterday. Nonetheless, being that majority of indicators point to the upside, this level is prone to be eroded and thus pave the way towards 0.9873 and 0.9906/40. In the meantime, near-term dips should be limited by supports situated at 0.9737, 0.9698/69 and 0.9604/02.
Since June 26 USD/JPY has been choppy without making any pronounced moves due to a large amount of supports and resistances scattered around the price. However, provided that the currency pair breaches 78.85/84, it will not encounter dense support areas until 78.08/77.97 and will be able to accelerate bearish motion. Upward advancement, on the other hand, will be difficult and
Despite GBP/USD closing above 1.5650 yesterday, rally was not sustained, leading to a dip, which is expected to extend further and erase at least some of the gains made previously. Given that most of technical indicators give sell signals, the Cable is inclined to drop to an interim support at 1.5596/80. Further weakening of the British Pound will be hindered
Recovery of the currency pair has faltered ahead of resistance at 1.2332 and is likely to turn back into a long-term fall of the price, as it was only a temporary bullish correction. An initial support line is located at 1.2247, followed by 1.2161 and 1.2106/1.2075, where we might see a stronger rebound. In case the latter level is breached,
NZD/USD edged higher today, touching 200-day simple moving average (0.7983). Bulls aim at overcoming the level, which is also confirmed by 61.80% Fibo. A breach of 0.8021 (R1 Weekly) would clear the way for 0.8054 (Upper Bollinger band) and 0.8158 (R3 Weekly), accordingly.
USD/CAD remains under downward pressure during Tuesday session. 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), accordingly.
The Australian dollar advanced versus the American dollar and for now it maintains a positive momentum, hitting a 200-day simple moving average. In case the pair manages to close above this line today, investors might expect 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), respectively.
The shared European currency slightly edged higher versus the Japanese Yen after the bearish mood slightly eased as investors await the Fed meeting on Tuesday. If bullish mood intensifies, 97.87 (61.80% Fibo) is going to be an initial resistance level among investors. 98.88 (R2 Weekly) and 99.47 (100-day SMA) are likely to be next once an initial level is pierced.
Support at 0.9805 was insufficient to reignite bullish behaviour of USD/CHF, which in turn is now slowly approaching a lower level at 0.9737. In case it proves to be as fragile as prior support, area at 0.9692/69 might come into play and give the pair upward impetus. Resistances, on the other hand, are at 0.9805, 0.9873 and 0.9906/40 and seem
At the moment we observe a small rebound of USD/JPY from 78.88/85, which is unlikely to extend further, being that overall technical studies are neutral. The currency pair is thus expected to consolidate near the support for now, until a more pronounced signal appears. In case the price commences strong recovery, it will face a confluence of many resistances at
Even though the majority of indicators pointed to the downside, the Cable has pushed higher through 1.5569/1.5609 and is currently struggling at a subsequent resistance line at 1.5650. However, the latter level is unlikely to be strong enough to contain the pair, therefore we expect a tough zone at 1.5721/32 to become a reversal point and send GBP/USD back to
EUR/USD is extending its bullish correction and may even attain a level of 1.2386/1.2419, if resistance at 1.2332 is unable to defy pair's bullish momentum. Nonetheless, long-term outlook remains bearish, despite current shallow rally. An interim support lies at 1.2247, followed by 1.2161 and a formidable support area from 1.2106 to 1.2075.
The Kiwi Dollar/US Dollar currency pair is trading almost flat below 200-day simple moving average (0.7983), however, bulls do not lose hope to pierce the level, which is also confirmed by 61.80% Fibo. A breach of this initial resistance level would clear the way for 0.8021 (R1 Weekly) and 0.8054 (Upper Bollinger band), accordingly.
The US dollar picked up against the Canadian dollar, erasing some of Friday's losses. If bullish momentum strengthens further, an initial resistance at 1.0170 (PP Weekly) is likely to be faced by bullish investors. A breakout here would expose the second and third levels at 1.0229 (55-day SMA) and 1.0298 (Upper Bollinger band; R2 Weekly), respectively.
The Australian dollar slides against the greenback on Monday trading and for now, the pair manages to maintain an upbeat trend. In case pair fails to breach and close above 200-day simple moving average (1.0284), investors might face next resistance levels at 1.0350 (Upper Bollinger band) and 1.0385 (38.20% Fibo; R2 Weekly), respectively.
The common European currency slumped against the Japanese Yen at the beginning of this week, though the bearish mood slightly eased as investors await the Fed meeting on Tuesday. If bullish mood intensifies, 97.87 (61.80% Fibo) is going to be an initial resistance level among investors. 98.88 (R2 Weekly) and 99.47 (100-day SMA) are going to be next once an initial level is pierced.
USD/CHF has surged up to an interim resistance at 0.9873, but was lacking bullish impetus in order to reach 0.9906/40, which will attempt to stop the currency pair from advancing further en route to 1.0008/42. Supports at 0.9805 and 0.9737, on the other hand, should limit possible losses and prevent dips from extending. A key zone, however, is at 0.9692/69
USD/JPY is slowly drifting lower and will soon bump into a support area at 78.92/85, which might trigger temporary short-squeezing, but is not viewed as able to reverse persisting downward tendency of the currency couple. Rallies will be capped by strong resistance at 79.35/43 and therefore should be shallow. Additional supports, however, lie at 78.52 and at 78.08/77.97.
Regardless of pair's long-term bearish outlook, GBP/USD managed to pierce through resistance at 1.5521/42 and confront 1.5569/1.5609. Today the price is expected to consolidate just below the latter level, accordingly, no pronounced movements are anticipated. In case the Cable resumes recovery started on July 13, it will encounter 1.5650 and 1.5719/27.
Rally of EUR/USD on Friday proved to be short-lived, as it was halted by resistance at 1.2247, which currently guards subsequent levels at 1.2332 and 1.2386/1.2419. The currency pair is thus likely to focus on reaching for supports that may be found at 1.2161 and 1.2106/1.2075, while a longer term target remains near a formidable line at 1.1989.
The New Zealand-US dollar currency couple edged a bit higher today, though at the moment the pair is trading above the 200-day SMA. NZD/USD is likely to maintain bearish mood unless it closes above 0.7985/98. For now, bears aim at 0.7876 (S2 Weekly) and in case of success, 0.7835 (Lower Bollinger band; PP Monthly) and 0.7777 (55-day SMA) are going to be targeted next.
USD/CAD continues moving lower, setting 1.0168 as a potential initial support line for bearish traders. If this level is successfully left behind and the bearish trend continues, as the daily trading indicator suggests, then focus might shift towards next support levels at 1.0099 (200-day SMA) and 1.0043 (61.80% Fibo).
The Aussie dollar stabilizes against the American dollar, though the general trend remains negative. Initial support level 1.0118 (61.80% Fibo) is going to be the first initial resistance level for investors, which is likely to be followed by 1.0083 (S2 Weekly) and 0.9988 (55-day SMA; S3 Weekly) once bearish momentum gains strength.