USD/CHF added to losses today as investors acquired Swiss Francs on improving macroeconomic conditions in the USA.
The American dollar edged higher today against the Japanese yen as US new home sales exceeded analysts' estimates (321K act./316K est.).
The British pound continued its rally today as investors perceived Europe's 3-loan program seems to be reviving the EU economy.
The single European currency advanced today versus the Japanese yen on weak annual change of Japan's CSPI (-0.2% act./0.1% est.).
EUR/USD advanced today as the EU banks may tap ECB for $629B cash next week, stimulating Europe's bond market.
USD/CHF has closed below 0.9080/66 and may decline further, down to 0.8960 or even 0.8788/69 (200 day ma), as the bearish momentum seems rather strong. Resistances are now placed at 0.9220, 0.9300/07 and 0.9317/31.
Both near-term and long-term outlooks are bullish for USD/JPY. Levels at 80.17/79.97 and 79.85 provide sufficient support for the pair to challenge 80.41. After overcoming the latter level, the pair should target 82.80 next.
Presently rally of the Cable, which commenced at 1.5645, is expected to prove to be short-lived. It is unlikely to extend above a formidable resistance area situated at 1.5765/1.5815. Additional supports are at 1.5617 and at 1.5580.
EUR/USD currency pair is bullish. The initial target for the price lies at 108.46, while a subsequent goal is located at 109.64 (55 week ma). From below the currency couple is supported by 106.17/105.85 and 105.72.
At the moment EUR/USD is headed toward a downtrend at 1.3520, after it has penetrated resistance at 1.3322. In case of dips, supports at 1.3190, 1.3133 and 1.3096 should halt bearish movement.
The American dollar weakened today against the Swiss Franc today as the business climate in Germany improved.
USD/JPY continued trading above the 80 mark today as the US unemployment claims remained at the 4-year low (352K act./351K est.).
The British pound attempted to rebound today as the BBA mortgage approvals (38.1K act./37.3K est.) and CBI industrial order expectations (-3K act./-14 est.) rose today.
Right after EUR/JPY touched the daily forecast mean at 106.02, the pair rebounded, continuing weekly rally as the German business sentiment improved.
The pair broke through the 1.33 level today as the German Ifo Business Climate index rose to the seven month high - 109.6 versus analysts estimate at 108.7.
Even though a support at 0.9080/66 is anticipated to hold, we cannot rule out a drop down to 0.8960, which guards 0.8787/68 (200 day ma). Rallies are to be stopped by 0.9300, 0.9311 and 0.9317/31.
In the short-term USD/JPY currency couple is expected to close above a resistance area at 79.93/80.25 and continue advancing toward 86.85, which is a long-term target. The initial support level is at 79.63/76, followed by 78.41 and 78.29.
Despite the Cable halting near a support at 1.5645, the bearish bias persists. GBP/USD is first expected to dip to 1.5615 (55 day ma), afterwards it should target 1.5580. Resistances located at 1.5730 and at 1.5815 cap the price from above.
EUR/JPY's outlook remains bullish. The pair is presently overcoming 105.75/106.80 resistance area and will aim for 107.20 (200 day ma) next. Supports are situated at 105.22/59 and at 103.90.
Today EUR/USD currency pair is likely to be traded frat. A tough resistance zone at 1.3300/22 should contain intraday rallies and send the pair down to 1.2974. Additional supports may be found at 1.2891/54 and 1.2775.
USD/CHF slightly rose today, crossing the 0.9119 daily market participants mean on better-than-expected US home sales and declined inventories.
USD/JPY pursued moving in the upward direction today on a increase of January existing home sales in the US, leaving the daily forecast mean (79.71) intact.
The British pound commenced a bearish reversal today after hitting the daily forecast mean (1.5797) as the Bank of England monetary policy committee (7-0-2 act./9-0-0 est.) voted to continue another quantitative easing to support the UK economic recovery.
The common European currency moved higher today on the Greek debt deal confirmation and pierced the 105.53 target today.