As anticipated, USD/JPY rebounded from a support at 78.53 and pierced through a formidable resistance area at 79.06/20, confirming its serious intention to surge further. At the moment the currency pair challenges 79.67/74, breach of which will pave the way towards 80.03/06 and 80.27. On the other hand, being that most of indicators are from neutral to bearish, continuation of
GBP/USD seems to be planning to undergo a minor bearish correction prior to breaching a tough resistance area situated at 1.5756/83, which in turn is reinforced by a zone at 1.5818/46, and was not expected to be overcome in a very first attempt. Current dip is unlikely to extend below 1.5667/05. Such a scenario, however, may not be ruled out,
Today we may expect another leg down, which should be contained by an uptrend support line at 1.2660/31. In case this level is unable to halt bearish advancement, subsequent supports at 1.2550/15 and even at 1.2341/26 may come into play. An initial resistance on the other hand may be found at 1.2759, followed by 1.2792/1.2820, which will remain as the
NZD advanced against the US dollar ahead the FOMC meeting announcement. If bullish momentum to intensify, 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 halted today before the FOMC meeting as investors expect the Fed representatives to introduce a new round of . If the bearish mood emerges, 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).
AUD edges higher against the greenback as the major market players expect the FOMC to announce new economic stimulus measures for the US economy. Thus, if AUD/USD to keep bullish impetus, 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 moves higher.
EUR/JPY traded in a flat trend today ahead of the FOMC meeting, which will indicate whether the Fed is going to launch a new round of the Quantitative Easing. If bullish trend continues, 101.29 level (R1 Weekly) is likely to be the initial resistance line. A breach of this level would pave the way to 102.13 (Upper Bollinger band; R2 Weekly) and 103.74/53 (200-day ma;
Support at 0.9508/0.9497 was unable to withstand bearish pressure, allowing the currency pair to fall precipitously. Most of daily indicators suggest further bearish development, while aggregate monthly bias is a buy signal. Therefore USD/CHF is anticipated to step lower to 0.9387/67 or even 0.9280/54 prior to a long-term recovery.
USD/JPY is still struggling with a resistance zone at 79.02/19 and seems to be in need of an additional try in order to climb over it. Accordingly, the currency couple is likely to pull back for now, sliding down to 78.53 or 78.04/00, where it will regain bullish momentum and challenge the area once more. Once it is overcome, subsequent
Step by step GBP/USD is inching higher in an attempt to erode 1.5757/80, which in turn is reinforced by a tough resistance zone at 1.5817/48 and is not expected to give in easily. As soon as the latter area is penetrated, the Cable will then be able to target 1.6192. In the meantime, supports at 1.5667/05 and 1.5533/30 will be
EUR/USD continues to bounce off an accelerated uptrend support despite the pair dipping occasionally and thus constantly shaking the view the price is able to advance further. While an initial resistance is located at 1.2743, the first considerable level is likely to be encountered at 1.2800/20, followed by an even more formidable area that stretches from 1.2881 to 1.2984.
NZD/USD attempts to jump higher, though the US positive macroeconomic data (Building permits: 0.78M act./0.73M est.) holds the pair back. If bullish momentum to intensify, 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 paired previous daily losses as the US building permits rose more than forecast (0.78 act./0.73M est.). If the bearish mood emerges, 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).
AUD attempts to move higher against the US dollar as the Spanish debt turmoil came back into the spotlight. Thus, if AUD/USD to remain bullish, 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 moves higher.
EUR/JPY fell today as the Greek post-election optimism faded, bringing problems of Spain back to the spotlight. If bullish trend keeps maintained, 101.29 level (R1 Weekly) is going to be the first target. 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.
USD/CHF has managed to close a downside gap and is currently advancing further. Still, the currency couple may falter at 0.9585/95, breach of which would imply strengthening bullish momentum. Failure to overcome it, on the other hand, will likely lead to a challenge of a support at 0.9508/0.9497. Additional levels are at 0.9443 and at 0.9382/67.
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