Although not as confidently as before, but still USD/JPY continues its journey towards the May high at 103.74/67.
A re-test of the down-trend resistance line that has been in force since August of 2009 entailed a sell-off. The Sterling has already slipped beneath the weekly PP and is about to hit a cluster of supports at 1.6114/1.6066.
EUR/USD stays trapped between the resistance at 1.3559 and the support at 1.3475/23—neither of these levels the currency pair is currently able to breach.
"New Zealand has a tightening bias, whereas Australia doesn't."- Westpac (based on The Wall Street Journal) Pair's OutlookUnexpectedly the pair is demonstrating bullish bias and seems to be recovering after dipping below the 200-day SMA last week. At the moment it seems to be struggling with the weekly PP. In order to neutralise the potential risk of a pullback it should
Pair failed to consolidate above the August high last week, but maintains bullish bias and has tested it once more today.
Pair started the week in a calm fashion, but it is rather evident it faces substantial downside risk.
Pair continue to demonstrate bullish bias and has peaked above the monthly R1.
While the U.S. Dollar has no trouble appreciating relative to the Yen, the Swiss Franc does not seem to be willing to underperform.
After a brief reprieve last Friday USD/JPY resumed its rally—the price is already testing the resistance represented by the monthly R3 and the weekly R1.
Although we consider 1.6237 to be a major resistance level, being formed by the monthly R1, long-term down-trend and the local peaks, the Cable continues to approach the January high.
Being unable to fully erode the support at 1.3473/23, EUR/USD returned to the resistance at 1.3559.
Pair initially stalled at the 100-daY SMA, but picked up the pace today and is continuing to erode support levels.
Pair maintained it's bullish stance and has tested August high already.
Pair continues to depreciate and at the moment is trading below the weekly S3.
Pair continues to be bullish as it eroded weekly R1. However, it seems to have lost momentum and seems to be just hovering slightly above the mentioned support.
Being unable to pass through the resistance at 0.9169, USD/CHF stepped back from the weekly PP and the 100-day SMA.
USD/JPY effortlessly pierced through the nearby resistances yesterday, soaring up to the next significant area at 101.80/40, below which the currency pair is consolidating at the moment.
GBP/USD continues to aimlessly oscillate between the resistance at 1.6237/14 and the support at 1.6074/34.
Despite a massive sell-off that occurred two days ago, depreciation of the Euro in the near-term is unlikely to remain as straightforward.
Pair continued to depreciate after the yesterdays failure and has already fallen below the 100-day SMA.
Pair continues to recover after touching weekly S1/monthly PP area and at the moment is retesting downtrend resistance (connecting July and August highs).
Pair continues to depreciate after failing at 55-day SMA. Today it eroded 100-day SMA and at the moment is testing weekly S2.
Pair is demonstrating increased volatility as it once more (second time in three days) has peaked above Oct high after bouncing from weekly PP yesterday.
While yesterday there were concerns that the bearish correction might extend down to the February low, today it already does not seem that the sell-off will resume.