USD/JPY is currently attempting to erode 79.05/18, above which the pair will gain a solid foothold and restore its positive outlook. However, at the moment the price appears to be unable to overcome a key resistance area and is slowly inching lower. The initial support it may encounter lies at 78.53, while subsequent levels may be found at 78.05/00 and
GBP/USD stalled just below a tough resistance situated at 1.5759/63, but is nevertheless viewed as capable of breaching it in near future, given the overall bullish outlook until the Cable reaches a major downtrend resistance at 1.6158/77 in a few months' time. An interim support area spreads from 1.5667 to 1.5624, followed by supports at 1.5530/28 and at 1.5348.
Yesterday's rally did not live up to expectations and did not develop into a full-blown upward advancement towards 1.2936, but in turn resulted in a sharp fall. Nonetheless, the currency pair still preserves bullish potential, unless it dips below 1.2528/15. Then EUR/USD is likely to retarget 1.2344/26 and afterwards 1.2210/00, as long-term indicators point to the downside.
NZD/USD managed to hold above the 55-day ma and it is currently approaching 200-day ma as the Greek vote . If bullish momentum to advance further 0.7961 (200-day ma) is going to be the first target for bulls. Once this line is left behind, 0.8012 (Upper Bollinger band; R1 Weekly) and 0.8106 (R2 Weekly) will be in focus among bullish investors.
USD/CAD is still trading bearishly as concerns over Greece eased on elections outcome. If the bearish mood holds again, 1.0174 (PP Monthly) is going to be the first support among bearish investors. A breakout here would expose 1.0110 (S2 Weekly; Lower Bollinger band) and 1.0003 (100-day ma; S3 Weekly).
The Aussie dollar edged higher against the greenback on positive outcome of the Greek results, suggesting the country is likely to form the government and meet its obligations. Thus, if AUD/USD to stick to bullish momentum, 1.0212 (R1 Weekly; Upper Bollinger band) is going to be the first target for bulls, followed by 1.0283/312 (200-day ma; R2 Weekly) and 1.0493 (R3 Weekly) in case the pair
EUR/JPY edged higher today as the pro-bailout parties took the lead in the Greek vote. If bullish trend to continue further, 101.29 level (R1 Weekly) is going will be in crosshairs. A breach of this line would pave the way to 102.13 (Upper Bollinger band; R2 Weekly) and 103.74/53 (200-day ma; R1 Monthly) levels.
Support area at 0.9508/0.9497 did not manage to halt USD/CHF, allowing it to aim for 0.9374/67. In case the latter level is violated as well, the currency pair might return to its long-term uptrend support line at 0.9280/46, where 100 and 200 day SMA are currently situated as well. Nonetheless, after temporary weakness of the U.S. Dollar relative to the
After days of choppy sessions, USD/JPY now appears to be driven by toughening bullish momentum following a strong rebound from a downtrend support line at 78.57/53. At the moment the currency couple is struggling at 79.09/17, but should soon overcome it, thus paving the way towards attainment of even higher levels. The initial resistance is at 79.67/83, reinforced by 80.03/27.
Quick rally of the Cable on Friday has been halted by a resistance zone at 1.5741/60, which is formed by an upper Bollinger band and 200 say SMA. Repeated attempts of GBP/USD to breach the area, however, are expected to bring success and expose 1.5817/50, a next major resistance. The overall outlook for the pair remains bullish, while dips will
The Euro has been strengthening for the last five trading days and seems to be capable of additional appreciation, given that most of daily indicators are bullish for EUR/USD. Accordingly, the currency pair may advance up to 1.2936/99 in the medium tem, but should be capped by this area in a longer term perspective. Supports, on the other hand, are
NZD/USD managed to sustain a bullish impetus and it continues trading higher ahead of the US macroeconomic data. If bullish momentum to continue, 0.7846 (61.80% Fibo) and 0.7906 (55-day ma) are likely to be the next targets among bearish market participants. A breakout of these levels would pave the way to the third resistance line at 0.7967 (R2 Weekly; 200-day
USD/CAD is trading bearishly as investors expect the Canadian monthly manufacturing sales to improve. If the bearish mood holds, 1.0174 (PP Monthly) is going to be the first support among bearish investors. A breakout here would expose 1.0088 (200-day ma) and 1.0009 (S1 Monthly; 100-day ma).
AUD/USD maintain an upbeat momentum before the release of the US empire state manufacturing index, which is expected to be less than it is estimated. Thus, if AUD/USD to hold a bullish bias, 1.0059 (55-day ma) is going to be the initial target for bullish traders. Once the 55-day moving average is left behind, 1.0206 (R1 Monthly) and 1.0304 (Upper
EUR/JPY moved slightly higher today after the Eurozone trade balance rose more than analysts expected (6.2B act./4.2B est.). If bullish trend to hold, 101.42 level (Initial resistance line) is going to be targeted by bullish investors. A breakout here would expose next levels at 102.08 (R1 Weekly) and 103.74/53 (55-day ma; R1 Monthly) respectively.
USD/CHF has stopped bearish advancement once the pair had encountered a formidable support at 0.9510/0.9475. The currency couple will now attempt to erode the area, as indicated by most of daily technical studies. Nonetheless, either the aforementioned resistance or a subsequent levels at 0.9417 and at 0.9365/36 should reverse latest tendency, as long-term outlook remains positive.
The currency pair is promptly heading towards a support at 78.43 at the moment, as it has just pierced through a tough level at 79.15/12, despite it being formed by weekly and monthly pivot points as well as 20 and 200 day simple moving averages. In case 78.43 gets breached as well, 78.08 and 77.63 will be tested next, even
GBP/USD is yet unable to gather sufficient bullish momentum in order to overcome resistance at 1.5600, implying that we might observe a retracement to a key support level situated at 1.5309/1.5257, thus charting a double bottom pattern and then bursting through resistances. An interim support is at 1.5516/1.5485, followed by 1.5370 and 1.5309/1.5257.
EUR/USD slacks off its speed as the pair approaches an initial resistance located at 1.2660/74, which, in conjunction with 1.2746, should be capable of containing near-term rallies. In an unlikely scenario, when these levels are breached, the outlook will still remain bearish, as long as a key area at 1.2831/93 is intact. Supports at 1.2565 and at 1.2514, on the
NZD/USD stepped higher today as investors expect a weak report of the US macroeconomic data. If bullish momentum to hold further, 0.7846 (61.80% Fibo) and 0.7906 (55-day ma) are likely to be the next targets among bearish market participants. A breakout of these levels would pave the way to the third resistance line at 0.7967 (R2 Weekly; 200-day ma).
USD/CAD is trading flat ahead of the US data announcement. If the bearish mood reiterates though, 1.0174 (PP Monthly) is going to be the first support among bearish investors. A breakout here would expose 1.0088 (200-day ma) and 1.0009 (S1 Monthly; 100-day ma).
AUD/USD rose further today as the market anticipates weak US macroeconomic data (Core CPI and Jobless Claims). Thus, if AUD/USD hold a bullish bias, 1.0059 (55-day ma) is going to be the initial target for bullish traders. Once the 55-day moving average is left behind, 1.0206 (R1 Monthly) and 1.0304 (Upper resistance level; 200-day MA) might be targeted by bullish
Bullish recovery in EUR/JPY added to gains today as the Eurozone annual CPI figures came in line with analysts' expectations, suggesting the macroeconomic conditions are stabilizing in the region.. If bullish trend to continue further, the pair is likely to test the 101.42 level (Initial resistance line) and 102.08 (R1 Weekly). A breakout here would expose 103.74/53 (55-day ma; R1
The market has respected a support at 0.9563/56 and is currently attempting to push the currency pair up from the area, though this has proven to be unsuccessful for now. The dip may extend down to 0.9510/0.9492, but should be stopped there, given toughness of the level. An interim resistance is at 0.9602, though is expected to be penetrated easily