The US dollar is trading slightly higher compared to yesterday against the Canadian dollar. As the pair failed to breach the 1.0241, USD/CAD is likely to move higher and 1.0323 (R1 Weekly) is going to be an initial resistance in case of such event. If the bullish momentum intensifies, 1.0375/90 (Upper Bollinger band; R2 Weekly) and 1.0464 (R3 Weekly; Upper resistance level) are going to be
NZD inched higher today, approaching the 0.7970 level (200-day SMA). If bullish inertia to continue, 0.8082 (Upper Bollinger band) might become the second resistance for bullish investors. A breakout of this level would expose the third resistance at 0.8148 (R3 Weekly).
USD/CHF has bounced off 0.9639/59 and is presently heading towards an initial support at 0.9553/31, which, in conjunction with a tough area at 0.9503/0.9497, should prevent the currency pair from falling and dipping as low as 0.9417 or 0.9448/46. The long-term outlook for the price remains positive, as monthly indicators point out.
The currency couple is currently contained by a support area at 79.36/12 from below and by a resistance zone at 79.99/80.03 from above. USD/JPY is expected to be range-bound today, refraining from pronounced moves and trading sideways. Afterwards, nonetheless, the price is likely to resume inching higher, since supports that underpin the pair seem to be impenetrable for now.
Despite insignificance of a resistance area at 1.5638/67 in the long run, the Cable did not manage to overcome it yesterday, but should challenge it once again in near future, which should then result in a bullish breakout and continuation of an upward advancement. Dips, in the meantime, are likely to be limited by supports at 1.5588/57 and at 1.5499.
EUR/USD has repeatedly tested a formidable support at 1.2456/29, confirming intentions of the currency pair to undergo a bullish correction, as indicated by most of daily technical studies. The rally, however, is expected to be shallow, given toughness of resistances that lie overhead. The initial level is located at 1.2570/99 and is reinforced by 1.2660/80.
NZD stabilized against the US dollar and for now the currency pair is trading in a tight price range. If bullish impetus occurs, 0.7970/85 (100-day SMA; R1 Weekly) might become an initial resistance for bulls. A breakout of this level would clear the path for 0.8082 (Upper Bollinger band) and 0.8148 (R3 Weekly).
The greenback slumps against the Canadian dollar and it has already tested 1.0241 level. If the bearish inertia strengthens, 1.0183/74 (S2 and PP Weekly) will be the first target for bears, followed by 1.0133 (100-day SMA) and 1.0049/42 (61.80% Fibo; S3 Weekly), respectively.
AUD/USD added to gains compared to yesterday as the pair bounced from the 55-day simple moving average. Thus, if bullish momentum intensifies, 1.0118 (61.80% Fibo) will be the first target among investors. A breakout here would expose next resistance levels at 1.0179 (R1 Weekly) and 1.0215/20 (100-da SMA; R1 Monthly).
The single European currency slumped yesterday against Japan's yen but today it is attempting to stabilize. If a bullish reversal occurs, 101.58 (55-day SMA) might become the first resistance level for bulls. If a bullish momentum holds further, a path towards 102.15 (R1 Weekly; Upper Bollinger band) and 104.55/65 (100-day SMA; R3 Weekly) will be open.
A rally above 0.9600 remains shallow, as the bullish move was short-lived and not distinct. Therefore we may expect dips to extend down to 0.9554/31 or even 0.9503/0.9497, as suggested by values of most daily technical indicators. The longer term outlook, however, remains bullish, implying that worth of the Greenback is expected to increase within the next few months.
USD/JPY has stalled after running into a support area at 79.36/12. Accordingly, bearish momentum of the currency pair has weakened, but nevertheless is capable of dragging the price down to 78.53 or 78.16 in the medium term. Overhead lies a short-term resistance, which may be found at 79.61, followed by a subsequent level at 79.99/80.03.
As expected, the Cable has bounced off a support area at 1.5581/71 and has just encountered an interim resistance at 1.5638/67, which is unlikely to play a significant role in future fluctuations. Resistance zone that stretches from 1.5719 to 1.5787, on the other hand, poses significant risk to the upside momentum, but should eventually give in.
The currency couple is attempting to commence recovery after rebounding from an initial support level at 1.2456/26. The current rally, nonetheless, is expected to be tepid, since resistances at 1.2569/99 and 1.2660/80 should be able to halt EUR/USD, where the price is likely to resume trading lower en route to a long-term target at 1.2037/00.
NZD slightly paired losses against the greenback today, though the outlook on the pair is neutral for now. In case bullish momentum emerges, 0.7970 (100-day SMA; R1 Weekly) might become an initial resistance for bulls. A breakout of this level would clear the path for 0.8082 (Upper Bollinger band) and 0.8148 (R3 Weekly).
The US dollar paired previous weekly losses against the Canadian dollar. However, if the bearish impetus to dominate the pair, 1.0241 (PP Weekly) will be the first target for bears, followed by 1.0183 (S2 and PP Weekly) and 1.0133 (100-day SMA) accordingly.
AUD/USD didn't move much compared to yesterday as the pair is floating near the 55-da simple moving average. However, if bearish mood intensifies, 0.9955 (S1 Weekly) will be the first target among bears. A breakout here would expose next support lines at 0.9826 (23.60% Fibo) and 0.9740 (Lower Bollinger band; S3 Weekly), respectively.
The common European currency continues moving South amid uncertainty over the Eurozone prospects and its ability to address the debt turmoil. In case of a bullish reversal, 101.64 (55-day SMA) is likely to become an initial resistance line; once breached, a path towards 102.15 (R1 Weekly; Upper Bollinger band) and 104.55/65 (100-day SMA; R3 Weekly) will be open.
USD/CHF struggles at 0.9600, but nevertheless appears to be able to climb over it and then aim for higher levels, which are located at 0.9639/58 and at 0.9699. Bullish advancement, however, may be postponed, since short-term technical studies point to the downside, even though long-term outlook remains positive. Supports at 0.9552/31 and at 0.9503/0.9497 should limit dips.
USD/JPY is rapidly heading towards a cluster of supports at 79.36/12, which is expected to halt the pair and preserve bullish outlook. In case bearish momentum persists, current dip may extend down to 78.36/16 or even 77.63/54. The closest resistance may be found at 79.64, while subsequent levels lie at 79.99/80.03 and at 80.46/74.
After piercing through a support at 1.5667/38, a fall of the currency pair has been gradually slowing down ahead of 1.5557. Accordingly, at the moment GBP/USD is set to reverse negative trend and commence recovery, as suggested by most of daily technical indicators. An interim resistance is located at 1.5638/67, followed by 1.5719/62 and 1.5795.
EUR/USD is being continuously sold off and is currently approaching an initial support level at 1.2456/32. In case this area does not withstand bearish pressure, bearish move may extend down to 1.2375 while en route to a long-term target situated at 1.2037. Rallies, on the other hand, should be limited be resistances at 1.2571/99 and at 1.2660/80.
NZD inched lower against the American dollar, holding a mild bearish bias. If it intensifies, 0.7810 is likely to be the next target for bears, which successful breach would expose 0.7742 (PP/S2 Monthly) and 0.7678 (23.80% Fibo). However, 0.7810 is prone to become a strong support, from which bullish investors are probably going to initiate bullish correction.
The US dollar is trading slightly lower against the Canadian dollar. Therefore, in case bearish momentum holds, 1.0241 (PP Monthly) is likely to be the first target, followed by 1.0183 (S2 and PP Weekly) and 1.0133 (100-day SMA), respectively.