The Australian Dollar continues its downward movement by approaching the weekly and monthly S1s at 0.8427/0.8395.
EUR/JPY has slipped lower once again, after it failed to consolidate above the 148 mark yesterday.
"FOMC members are a little bit challenged by the fear that they don't want to rattle markets. It makes sense for them to proceed with caution." - Deutsche Bank (based on Bloomberg)Pair's OutlookAfter a dive beneath the weekly PP at 1.5697, even the cluster of SMAs did not help to hold the pair near the 1.57 mark. Now the pair is
"I don't see any major upside - turnout is expected to be at a historical low, and the markets will take that as a sign that voters aren't convinced about Abe's economic policies."- Daiwa (based on CNBC)Pair's OutlookUSD/JPY has managed to surpass the 119 level that remained unbeaten beforehand. Currently, the pair is hovering around the weekly R1 that is
"The dollar's strength is gold's biggest enemy. Investors are wondering whether yesterday's rally in oil prices was a dead-cat bounce."- Infinity Trading Corp. (based on Bloomberg)Pair's OutlookXAU/USD cross continued hovering slightly above the $1,200 threshold, which is supported by the weekly R1 at $1,192 from the south. At the same time, we predict the bears to succeed in crossing this
"If unemployment continues to decline, if the labor market continues to strengthen and if we see some signs of inflation beginning to increase, then the natural thing is to get the interest rate up."- Stanley Fischer, Federal Reserve Vice Chairman (based on MarketWatch)Pair's OutlookEUR/USD is approaching a decision-making point inside the triangle pattern, as it has neared the 2014 low
The pair has not managed to prolong yesterday's advance and it seems somewhat stuck between the weekly/monthly PPs and 55-day SMA.
At the second part of yesterday's trading day selling pressure gained momentum and accordingly USD/CAD dropped below the weekly and monthly PP; however, the decline was stopped by the 20-day SMA at 1.1328.
The Australian Dollar failed to consolidate above the 0.85 earlier today, when the currency rose against the US peer.
The 18-nation currency's bulls are actively trying to push the pair above the major level at 148.
"What brought gold back was there are three continents that have to stimulate their economies. We not only saw softness in Europe with the PMIs, we saw softness in Japan."- RBC (based on CNBC)Pair's OutlookThe bullion for immediate delivery climbed 3.8% to hit the daily maximum at $1,221 per ounce on Monday. It seems that daily pivot points were too
"With the effect of the sales tax hike, I don't see real wages rising in the financial year through April."- Mizuho Securities Co. (based on Bloomberg)Pair's OutlookUSD/JPY struggled to remain above 118 level yesterday; however, with a help of the weekly PP and 100/200-period SMAs the US Dollar is still trading above the trend-line. Now the pair is climbing towards
The GBP/USD cross is strongly supported by the 55, 100 and 200-period SMAs around the 1.57 level.
EUR/USD is still trading in a narrow range, which is partly explained by the long-term triangle pattern.
At the moment, the Kiwi seems like it has received a bullishness; however, the pair most likely will not surpass the 55-day SMA at 0.7890.
USD/CAD formed an attack towards this year's high at the beginning of today's trading session; however, unsuccessfully, that leading to the pair's decline below the 1.14 level.
The Australian Dollar opened below last week's closing price, as the negative bias continue to dominate the pair.
EUR/JPY is trading closer to the major level at 148, after relatively calm last week; moreover, the common currency is underpinned above the 147 mark.
The bullion for immediate delivery dropped 2.1% to $1,142.88 an ounce in the end of the trading session on Friday, reaching the lowest level since November 7, when it fetched four-year low of $1,132.16.
USD/JPY seems supported above the 118 level, as the weekly PP and 55, 100 and 200-period SMAs are located just above the mark.
After posting the first weekly gains in more than a month, the Pound seems unlikely to hold its bullishness.
EUR/USD dropped in its value on Friday of the last week. The pair consolidated further below the 1.25 mark and reaches the weekly pivot point at 1.2447.
Frankly, the pair did not make any major move through the week, while the biggest decline was on Tuesday when the pair dropped below the weekly S1 at 0.7805.
The long awaited bullish impetus has been received and that pushed the pair towards the 1.14 mark through yesterday and today.