The key level this week definitely has been the major level at 0.77, as it has served as a very reliable support level and it kept the Kiwi afloat despite the buck's strength.
The week in general has been defined by the US Dollar's strength and this currency pair has not been any exception, as the USD/CAD set a new this year's high at 1.1467.
After a strong beginning of the week and even stronger advance on last Friday, the EUR/JPY cross has lost its bullish momentum.
This has not been necessarily a good week for the Aussie's bulls as the currency has lost quite a some ground against the US peer.
"It all speaks to the story that the U.S. can sustain pretty strong growth even when there are concerns about growth slowing in places like China and the euro zone."- JP Morgan Private Bank (based on Reuters)Pair's OutlookThe American currency showed its strength in pairs with all major currencies, including the Swiss franc. Yesterday, the USD/CHF pair advanced more than
"Considering that the dollar was around 79 yen when our government started, it would not be a mistake to say it has fallen rapidly."- Japan's Finance Minister (based on Reuters)Pair's OutlookUSD/JPY pair was able to develop through an important resistance line around 114.70, which held the US dollar nearly for two days. The pair also surpassed a major level at
"Recent weak inflation numbers appear to have alleviated the pressure to tighten monetary policy. […] We think the risk of waiting a few more months to start raising interest rates outweighs the risk from a premature tightening." - National Institute of Economic and Social Research (based on New York Times)Pair's OutlookFollowing its pan-European peer, the British currency lost value against the
"Draghi signaled that additional monetary easing was in the pipeline. Further action could be announced as soon as next month's meeting - ABN Amro Bank NV (based on Bloomberg)Pair's OutlookEUR/USD pair declined substantially on Thursday and reached the level of monthly S1 at 1.2376. The new 2014 low, however, was set even lower around 1.2363, but the single currency managed to
NZD/USD remains bearish by setting lower highs and lower lows. Today the pair has reached the weakest trading level since May 2012 at 0.7669; moreover, there is a potential of the Kiwi slipping even lower.
The pace of USD/CAD advance has slowed down; although, the pair is still growing in value. Moreover, the Greenback did not find any strong driver today, but it also kept its positions around the monthly R1 1.14122.
The Aussie's bulls have managed to halt the significant yesterday's decline as the pair attacked the 0.86 level today and even traded above it for a moment.
The Euro managed to surpass the major level at 144 today; however, at that point the pair received a bearish impetus that has dragged the pair below the 143 mark.
USD/CHF continues to develop in a mixed environment for a third consecutive day, as the pair is still well supported by the weekly pivot point at 0.9582.
Yesterday, the USD/JPY pair decided to test the strong resistance line around 114.70, but was forced to give up this idea after several unsuccessful attempts to do that.
Due to fundamental factors, the GBP/USD currency pair dropped significantly on Wednesday down to the 2014 low at 1.5874, but was able to return back and close near the 1.60 major level at the end of the day.
The single European currency managed to breach a considerable support line, represented by October low at 1.25, but bounced back in the beginning of Thursday.
The Kiwi dropped to the lowest level this year at 0.7688, after reaching the weekly PP at 0.7841. Moreover, there is still high possibility of the pair sliding even lower towards new lows.
The USD/CAD cross is not losing its bullish momentum for a bit as the value of the Greenback continuous to grow rather significantly.
The Australian Dollar has reached a new low this year at 0.8592; however, it seems that the pair could fall even lower until today's close.
EUR/JPY has prolonged its advance to five straight days and it seems that today easily could be the sixth consecutive one.
"The polling on minimum wage is very clear: It is something that three quarters of the country supports."- American Enterprise Institute (based on CNBC)Pair's OutlookUSD/CHF came under increased bearish pressure on Monday; however, pair's decline was over due to toughness of the support at 0.9582. At the moment the pair is ready to recover in order to reach the 2014
"There's no change to our policy of trying to achieve 2 percent inflation at the earliest date possible, with a roughly two-year time horizon in mind."- Bank of Japan Governor (based on Reuters)Pair's OutlookAs predicted both by daily and weekly technical studies, the USD/JPY currency pair continues to gain value. However, the cross is nearing a considerable resistance around 114.70,
"Investors have locked in a Republican majority in the Senate and House. The question is how dominant is that going to be."- BMO Capiral Markets (based on CNBC)Pair's OutlookIt seems that resistance around 1.6031 used to be strong enough to calm down the bullish pressure, as the British currency declined below the major level at 1.60. The next significant support
"The inflation that has infected asset prices is not to be ignored just because the middle-class spending bucket is not rising in price at the same rates as high-end real estate, stocks, bonds, art and other things that benefit from quantitative easing."- Elliott Management Corp. (based on Bloomberg)Pair's OutlookThe currency pair experienced little changes during past 24 hours, as the