USD/CHF is slowing down ahead of a considerable resistance zone at 0.9890/0.9906, but preserves potential to overcome it. Afterwards, the currency couple will be able to surge up to 1.0006/42 and confront it in order to win possibility to advance further towards 1.0212. Meanwhile, supports at 0.9692/57 and 0.9581/56 will guard lower levels.
USD/JPY closed below 79.46/35 yesterday and is about to hit subsequent level at 79.17/03, penetration of which will expose 78.85. Since the currency pair is now more likely to focus on supports, extensive rallies might not appear until supports at 78.39 or even 78.08 are reached. In case they do occur, formidable resistances at 79.35/45 and 79.63/70 will stand in
GBP/USD fell abruptly to 1.5403/1.5385 and is consolidating at the moment. The Cable is likely to continue testing this area until it is breached and then turn to 1.5291/56, where the pair may form a second low of a double bottom pattern and commence robust recovery, which in turn may to lead to an attempt to climb over a neckline
Despite a support line at 1.2170 being a weak level, it nevertheless managed to halt EUR/USD from sliding lower, thus pointing out current frangibleness of bearish momentum. Still, majority of indicators for all three observed timeframes suggest the downward trend will persist, consequently, support area at 1.2135/06 should give in eventually, paving way towards 1.1986/26.
The Kiwi-US dollar pair commenced a downward trend and breached the 0.7922 (S1 Weekly) resistance level. Thus, if bearish inertia holds further, investors might expect the next major support levels to be positioned at 0.7886 (50% Fibo) and 0.7812 (Lower Bollinger band), respectively.
The US-Canadian dollar pair recovered from the previous daily loss, attempting to move. If the bullish trend commences after the initial resistance at 1.0214 (55-day SMA) is left behind, 1.0251 (23.60% Fibo) and 1.0314 (Upper Bollinger band) are going to be exposed to bullish traders.
AUD/USD dived lower today, wiping previous weekly gains and currently the currency couple is hovering a few pips above an initial resistance line at 1.0162 (100-day SMA). A breakout here would expose resistance levels at 1.0083 (S2 Weekly) and 0.9988 (55-day SMA; S3 Weekly), accordingly.
The 17-nation currency moved south versus Japan's yen as currently the pair and at the moment it maintains bearish inertia. As an initial resistance at 97.22 (S1 Monthly; Lower Bollinger band) has been left behind, the next 96.32 (Upper support line; S1 Weekly) and 95.60 (June 1 Low) might be tested next by bearish traders.
According to the technical studies, USD/CHF is expected to accelerate recovery and pierce through some of the resistances that lie on the horizon. An interim level is at 0.9862, followed by 0.9896/0.9906, while a medium-term target is situated at 1.0006/42. Since we may not rule out dips that might still occur, supports at 0.9692/90, 0.9637 and 0.9581/56 should also be
After breaking an uptrend support line USD/JPY did not give any hints on where it is intending to move and therefore is likely to stay flat for a while. Indicators' signals are mixed and equivocal, thus we are not yet able to estimate what scenario is most likely to unfold. Moreover, the pair is surrounded by resistances and supports that
Once again GBP/USD failed to breach a resistance zone at 1.5530/53. Therefore the currency couple has preserved its bearish outlook, even though it has not yet left the vicinity of 1.5530/53 and keeps on gravitating towards it. Supports that will be attempting to slow down depreciation of the British Pound are at 1.5432, 1.5389/85 and 1.5291/56.
The currency pair continues to drift lower and is likely to gain more bearish momentum in near future, as more indicators give "sell" signals, especially for a daily timeframe. The initial formidable support EUR/USD may bump into lies at 1.2128/06, below which the pair will be able to encounter 1.1986/26, where a bullish correction is probably going to be commenced.
Compared to yesterday, the New Zealand dollar mildly rose against the US dollar. As the middle term outlook remains negative, bearish investors might expect the next major support levels to be located at 0.7886 (50% Fibo) and 0.7812 (Lower Bollinger band), respectively.
USD/CAD inched lower yesterday, falling slightly below 1.0214 (55-day SMA). However, if the bearish trend commences, investors might take profits at 1.0168 (PP Weekly). A breakout here would clear the path towards1.0099 (200-day SMA) and 1.0043 (61.80% Fibo) in case bearish momentum gains strength. To maintain the bullish trend, the pair has to close above the 55-day SMA (1.0198).
The Aussie dollar-US dollar pair stabilized and at the moment the pair is trading flat ahead of the FOMC meeting. If bearish momentum emerges, 1.0162 (100-day SMA) is going to be an initial resistance level, a breakout of which would expose next lines at 1.0083 (S2 Weekly) and 0.9988 (55-day SMA; S3 Weekly), respectively.
The single European currency moved lower against the Japanese yen as currently the pair is approaching 97.22 (S1 Monthly; Lower Bollinger band), indicating that bearish mood prevails on EUR/JPY among market participants. Thus, if the inertia holds till the end of this week, 96.32 (Upper support line; S1 Weekly) and 95.60 (June 1 Low) might be tested next by bearish traders.
USD/CHF has experienced some difficulties at initial resistance, but nevertheless remains well-placed for further gains, as is pointed out by technical studies. Near-term level is at 0.9838, above which the currency pair will face more serious resistances - 0.9896/0.9906 and 1.0006/42. In the meantime, dips should be contained by supports at 0.9692/90 and 0.9619/52.
Despite the presence of a key support area at 79.47/35, USD/JPY continued to crawl lower. Bearish breakout has not yet been confirmed, but there is little chance the price will not close below 79.35 today, which in turn would activate further downward activity of the pair. The next support may be found at 79.17, followed by 78.96/85.
The Cable has tested formidable resistance at 1.5530/53, proving insufficiency of strength of bullish momentum in order to overcome this level and to challenge some of the higher zones - 1.5583/92 and 1.5646/51. Accordingly, GBP/USD is expected to inch lower, possibly even down to 1.5291/56, however, may be underpinned by 1.5389/85 and commence robust recovery there.
EUR/USD has temporarily stopped near yesterday's support at 1.2240, but should continue sliding downwards, as suggested by most of indicators for all three time frames. The closest support at the moment lies at 1.2200 and guards subsequent levels at 1.2128/06 and 1.1986/26, where we are likely to see a more pronounced rebound.
The New Zealand dollar deteriorated against the US dollar and the currency pair is targeting 0.7922. As bearish inertia seems to intensify, bearish investors might expect the next major resistance levels to be located at 0.7886 (50% Fibo) and 0.7812 (Lower Bollinger band), respectively.
USD/CAD edged higher and the bulls are attempting to fix above 55-day simple moving average. However, if the bearish trend commences, investors might fix profits at 1.0168 (PP Weekly). A breach of this level is likely to open 1.0099 (200-day SMA) and 1.0043 (61.80% Fibo) in case bearish momentum gains strength. To keep the bullish inertia, the pair has to close above the 55-day
The Aussie dollar weakened against the US dollar as the currency couple is currently approaching 1.0162 (100-day SMA). If bearish mood persists, investors might encounter next support lines at 1.0083 (S2 Weekly) and 0.9988 (55-day SMA; S3 Weekly), respectively.
The 17-nation currency erased Monday gains versus the Japanese yen and at the moment the pair is heading towards lower Bollinger band at 97.22. A breakout of this initial resistance level would pave the way to the potential levels at 100.20 (23.60% Fibo; 55-day SMA) and 101.61 (Upper Bollinger band).