Pair did not manage to successfully consolidate above the weekly R3 and is retesting it today.
Pair is depreciating further and is approaching 1.0275, the level which kept the pair support for 3 weeks in not so distant past.
It seems that the pair has consolidated above the 200-day SMA.
Pair seems to be slowly approaching resistance at 134.21.
Just within one day USD/CHF came all the way back from 0.9128 down to 0.9021.
Although the 200-day SMA has already been breached, the rising support trend-line at 97.95/82 is keeping USD/JPY afloat.
While there were almost no reasons to believe that the British Pound would be able to outperform the U.S. Dollar, GBP/USD has just effortlessly rallied through several resistances and returned within the boundaries of the bullish channel.
Yesterday the U.S. Dollar was ubiquitously bearish and allowed EUR/USD to soar 150 pips.
Pair seems to have gained momentum after bouncing from 0.830.
Pair seemed to be capped for some time, but today we saw it falling through quite a few support levels.
Pair has breached the September high with a bang and at the moment is testing 200-day SMA.
Pair seems to be consolidating after a sell off a few days ago and consecutive bounce from the 20-day SMA/weekly and monthly PP.
The nearby resistances, such as the monthly PP and weekly R1, withstood an initial test and forced USD/CHF to pull back for now.
Yesterday USD/JPY successfully closed above the resistance at 98.82/69, but at the moment it is retreating from a round level—99.00.
The Cable continues to trade sideways, even though the bullish support line failed to stay intact, meaning the possibility of a sell-off is increased.
Although at some point yesterday it seemed that the rising trend-line (in force since mid-May) may be breached, the support managed to weather the selling pressure and sent the currency pair towards the weekly PP at 1.3549.
Pair is continuing to appreciate after bouncing from the weekly PP/20-day SMA.
After the pairs failure at 1.042 last week it seems it is being capped by the 55 and 100-day SMAs in the upside and 1.034 in the downside.
"If things went wrong in the US, then at least in the short-term, we might see some strength against a weakening US dollar. But on the other hand, in what the market obviously considers as the more likely scenario that there will be a resolution, then the Aussie might benefit from a bit of risk-on movement."- CMC Markets (based on
Despite the pairs failure even prior to the weekly R1, it seems that bulls are not giving up and not allowing for the pair to trail lower.
Yesterday USD/CHF inched higher and thereby has finally surpassed the June low, although we were expecting a pullback down to 0.9021 prior to that.
Among all nearby resistances a combination of the monthly PP and 100-day SMA turned out to be the most formidable, successfully repelling several attacks of USD/JPY since Oct 11.
The most recent price action threatens intactness of the rising line that in turn safeguards the medium-term positive outlook.
EUR/USD refuses to start a rally and is continuously putting strong pressure on the support line at 1.3491.