The Australian dollar slides against the greenback on Monday trading and for now, the pair manages to maintain an upbeat trend. In case pair fails to breach and close above 200-day simple moving average (1.0284), investors might face next resistance levels at 1.0350 (Upper Bollinger band) and 1.0385 (38.20% Fibo; R2 Weekly), respectively.
The common European currency slumped against the Japanese Yen at the beginning of this week, though the bearish mood slightly eased as investors await the Fed meeting on Tuesday. If bullish mood intensifies, 97.87 (61.80% Fibo) is going to be an initial resistance level among investors. 98.88 (R2 Weekly) and 99.47 (100-day SMA) are going to be next once an initial level is pierced.
USD/CHF has surged up to an interim resistance at 0.9873, but was lacking bullish impetus in order to reach 0.9906/40, which will attempt to stop the currency pair from advancing further en route to 1.0008/42. Supports at 0.9805 and 0.9737, on the other hand, should limit possible losses and prevent dips from extending. A key zone, however, is at 0.9692/69
USD/JPY is slowly drifting lower and will soon bump into a support area at 78.92/85, which might trigger temporary short-squeezing, but is not viewed as able to reverse persisting downward tendency of the currency couple. Rallies will be capped by strong resistance at 79.35/43 and therefore should be shallow. Additional supports, however, lie at 78.52 and at 78.08/77.97.
Regardless of pair's long-term bearish outlook, GBP/USD managed to pierce through resistance at 1.5521/42 and confront 1.5569/1.5609. Today the price is expected to consolidate just below the latter level, accordingly, no pronounced movements are anticipated. In case the Cable resumes recovery started on July 13, it will encounter 1.5650 and 1.5719/27.
Rally of EUR/USD on Friday proved to be short-lived, as it was halted by resistance at 1.2247, which currently guards subsequent levels at 1.2332 and 1.2386/1.2419. The currency pair is thus likely to focus on reaching for supports that may be found at 1.2161 and 1.2106/1.2075, while a longer term target remains near a formidable line at 1.1989.
The New Zealand-US dollar currency couple edged a bit higher today, though at the moment the pair is trading above the 200-day SMA. NZD/USD is likely to maintain bearish mood unless it closes above 0.7985/98. For now, bears aim at 0.7876 (S2 Weekly) and in case of success, 0.7835 (Lower Bollinger band; PP Monthly) and 0.7777 (55-day SMA) are going to be targeted next.
USD/CAD continues moving lower, setting 1.0168 as a potential initial support line for bearish traders. If this level is successfully left behind and the bearish trend continues, as the daily trading indicator suggests, then focus might shift towards next support levels at 1.0099 (200-day SMA) and 1.0043 (61.80% Fibo).
The Aussie dollar stabilizes against the American dollar, though the general trend remains negative. Initial support level 1.0118 (61.80% Fibo) is going to be the first initial resistance level for investors, which is likely to be followed by 1.0083 (S2 Weekly) and 0.9988 (55-day SMA; S3 Weekly) once bearish momentum gains strength.
The shared European currency weakens against the Japanese national currency all attempts to recover are met with further decline. If the pair to continue trading in a bearish trend, 96.32 is likely to be the next target for bears. A breakout here would expose 95.60 (June 1 Low) and 95.11 (S2 Weekly), respectively.
USD/CHF is slowing down ahead of a considerable resistance zone at 0.9890/0.9906, but preserves potential to overcome it. Afterwards, the currency couple will be able to surge up to 1.0006/42 and confront it in order to win possibility to advance further towards 1.0212. Meanwhile, supports at 0.9692/57 and 0.9581/56 will guard lower levels.
USD/JPY closed below 79.46/35 yesterday and is about to hit subsequent level at 79.17/03, penetration of which will expose 78.85. Since the currency pair is now more likely to focus on supports, extensive rallies might not appear until supports at 78.39 or even 78.08 are reached. In case they do occur, formidable resistances at 79.35/45 and 79.63/70 will stand in
GBP/USD fell abruptly to 1.5403/1.5385 and is consolidating at the moment. The Cable is likely to continue testing this area until it is breached and then turn to 1.5291/56, where the pair may form a second low of a double bottom pattern and commence robust recovery, which in turn may to lead to an attempt to climb over a neckline
Despite a support line at 1.2170 being a weak level, it nevertheless managed to halt EUR/USD from sliding lower, thus pointing out current frangibleness of bearish momentum. Still, majority of indicators for all three observed timeframes suggest the downward trend will persist, consequently, support area at 1.2135/06 should give in eventually, paving way towards 1.1986/26.
The Kiwi-US dollar pair commenced a downward trend and breached the 0.7922 (S1 Weekly) resistance level. Thus, if bearish inertia holds further, investors might expect the next major support levels to be positioned at 0.7886 (50% Fibo) and 0.7812 (Lower Bollinger band), respectively.
The US-Canadian dollar pair recovered from the previous daily loss, attempting to move. If the bullish trend commences after the initial resistance at 1.0214 (55-day SMA) is left behind, 1.0251 (23.60% Fibo) and 1.0314 (Upper Bollinger band) are going to be exposed to bullish traders.
AUD/USD dived lower today, wiping previous weekly gains and currently the currency couple is hovering a few pips above an initial resistance line at 1.0162 (100-day SMA). A breakout here would expose resistance levels at 1.0083 (S2 Weekly) and 0.9988 (55-day SMA; S3 Weekly), accordingly.
The 17-nation currency moved south versus Japan's yen as currently the pair and at the moment it maintains bearish inertia. As an initial resistance at 97.22 (S1 Monthly; Lower Bollinger band) has been left behind, the next 96.32 (Upper support line; S1 Weekly) and 95.60 (June 1 Low) might be tested next by bearish traders.
According to the technical studies, USD/CHF is expected to accelerate recovery and pierce through some of the resistances that lie on the horizon. An interim level is at 0.9862, followed by 0.9896/0.9906, while a medium-term target is situated at 1.0006/42. Since we may not rule out dips that might still occur, supports at 0.9692/90, 0.9637 and 0.9581/56 should also be
After breaking an uptrend support line USD/JPY did not give any hints on where it is intending to move and therefore is likely to stay flat for a while. Indicators' signals are mixed and equivocal, thus we are not yet able to estimate what scenario is most likely to unfold. Moreover, the pair is surrounded by resistances and supports that
Once again GBP/USD failed to breach a resistance zone at 1.5530/53. Therefore the currency couple has preserved its bearish outlook, even though it has not yet left the vicinity of 1.5530/53 and keeps on gravitating towards it. Supports that will be attempting to slow down depreciation of the British Pound are at 1.5432, 1.5389/85 and 1.5291/56.
The currency pair continues to drift lower and is likely to gain more bearish momentum in near future, as more indicators give "sell" signals, especially for a daily timeframe. The initial formidable support EUR/USD may bump into lies at 1.2128/06, below which the pair will be able to encounter 1.1986/26, where a bullish correction is probably going to be commenced.
Compared to yesterday, the New Zealand dollar mildly rose against the US dollar. As the middle term outlook remains negative, bearish investors might expect the next major support levels to be located at 0.7886 (50% Fibo) and 0.7812 (Lower Bollinger band), respectively.
USD/CAD inched lower yesterday, falling slightly below 1.0214 (55-day SMA). However, if the bearish trend commences, investors might take profits at 1.0168 (PP Weekly). A breakout here would clear the path towards1.0099 (200-day SMA) and 1.0043 (61.80% Fibo) in case bearish momentum gains strength. To maintain the bullish trend, the pair has to close above the 55-day SMA (1.0198).