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
For the last few days USD/JPY has been choppy, fluctuating just above a key support zone at 79.18/11, which should hold the currency couple until it commences gaining bullish momentum. The nearest noteworthy resistance is located at 79.93/80.03, followed by subsequent levels at 80.23/25 and 81.52. Being that the chance of the pair sinking below 79.18/11 is not ruled out
A rally above a support area 1.5535/21 was not sustained, resulting in a pullback and temporary suspension of further bullish activity. Slowdown in appreciation of the British Pound, however, is expected to be short-lived, even though there is a number of tough resistance that lie ahead - 1.5628/67, 1.5739/66 and 1.5852/92, which are likely to hamper northward movement of the
Despite the overall bearish outlook for the pair, EUR/USD has recovered from 1.2463. The price is currently heading towards resistances situated at 1.2653/60 and 1.2746, which should be able to halt bullish advancement and return the currency couple to a downward path. Supports, on the other hand, may be found at 1.2565, 1.2508 and 1.2463.
NZD/USD rose moderately today as the US monthly retails sales contracted more than expected (-0.2% act./-0.1% est.). 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.
USD/CAD committed a mild decline today after the publication of the US monthly PPI (-0.1% act./-0.6% est.). Therefore, the US dollar depreciated against the Loonie dollar. 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 advanced further after the release of the weak US monthly core retail sales (-0.4% act./0.1% est.). Thus, if AUD/USD sticks to an upbeat impetus, 1.0085 (55-day ma) is going to be the next target after 0.9900 (psychological level) has been breached. Once the 55-day moving average is left behind, 1.0206 (R1 Monthly) is likely to be in focus among bearish traders.
EUR/JPY slightly rose today as the Eurozone members discuss the European banking union to help Spain to preserve its financial system. If bullish trend continues, the pair is likely to test the 101.42 level (Initial resistance line) and the zone around 103.74/53 (55-day ma; R1 Monthly).
USD/CHF has faltered ahead of 0.9637, but should be able to renew its bullish advancement, as the weekly and monthly outlooks for the pair remain positive. Once 0.9637 is breached, the price will aim for 0.9720, then 0.9776. Supports, on the other hand, currently are at 0.9602, 0.9563/56 and 0.9512/0.9497, limiting possible dips, which may by triggered by closure of