The US dollar is trading slightly lower against the Canadian dollar compared to Friday. For now the pair seemed to stabilize, presenting a chance for bullish traders to change the price direction. Therefore, 1.0023 (PP Weekly) might become the first resistance level, followed by 1.0079 (200-day SMA) and 1.0119 (50% Fibo) in case of a successful breakout.
Bulls continue adding to gains on AUD/USD and right now the currency pair is floating around recent high at 1.0574 (23.60% Fibo. A breakout here would expose the second and third resistance levels at 1.0629 (Upper Bollinger band) and 1.0668 (R2 Weekly), respectively.
EUR/JPY started a week slightly lower after a strong rally last Friday. If bullish trend holds further, then 97.93 (61.80% Fibo) is likely to be the first target to be tested by bullish investors. If this level is successfully pierced, a path towards 98.43 (Upper Bollinger band) and 100.53 (100-day SMA) will be cleared.
Although RSI indicator shows neutral signal, AUD/JPY experienced a huge rally on the 3rd of August, however a trend reversal happened, and now the price follows a downward trend, and is about to reach weekly PP at 82.57, which might prove to be support for the current decline. If it is broken, then the bearish tendency is likely to advance even further until 200-day SMA
Bullish advance, which started two days ago, was stopped, and now a bearish reaction takes place. The movement downwards has already managed to reach weekly PP at 1.1716 and now EUR/AUD is gradually moving towards weekly S1 at 1.1657, which might bring some bullish momentum for the price, but, if the currency pair manages to breach it, then next support at 1.1631 (lower Bollinger band)
EUR/CAD experienced a huge bullish correction on August 3rd, followed by another smaller rally yesterdayAs for now, the currency couple experiences a bearish reaction, which already managed to close the recently established upside gap, and now the price is slowly approaching a 20-day SMA at 1.2357, which might serve as a support level for the current dip. In case the price manages to break through,
The currency couple attempted to push through 0.9707/0.9656, but was unsuccessful, thus pointing to its potential to resume recovery. Resistance at 0.9738/40 will stand first on its way upwards, whereas 0.9803/25 and 0.9950/1.0003 will also slow down advancement of the pair, which is not anticipated to be sharp, given mixed signals on daily and monthly timeframes.
USD/JPY has pierced through a downtrend resistance, but proved to be incapable of surging further by bouncing off 78.71. An interim support at 78.48/43 is being eroded and may soon give in, allowing the price to drop to 78.08/77.87, below which lies subsequent levels at 77.56 and 77.34/21. In order to change the long-term outlook to bullish, USD/JPY will have
Rebound of the pair from 1.5517 last week confirms intentions of the cable to trade above an uptrend support and thus rechallenge a key resistance area that stretches from 1.5730 (200 day SMA) to 1.5775 (Bollinger band). Nonetheless, this zone is unlikely to be breached in near future and will cap the pair for now, while closest supports are to
EUR/USD still preserves some bullish momentum since Friday, as suggested by technical indicators on a daily timeframe. However, it is expected to wane afterwards, since resistance at 1.2410/40 is already proving the present rally of the pair to be fragile. Further appreciation of the Euro will encounter levels at 1.2535 and 1.2633/44, while dips will be limited by supports at
Bearish trend, which was started on July 30th was paused today, and now a bullish correction takes place. Further GBP/JPY advance might find resistance at 20-day SMA at 122.59, but if it fails to reverse the current trend, then next resistance at 122.90 (Monthly PP) will probably bring some bearish impetus. At the same time, RSI indicator shows neutral signal, therefore no sudden tendency reversal
EUR/CAD experienced a small bullish correction today, however, the price stayed within a downward channel, and the outlook remains bearish. If the rally continues, it might encounter a 20-day SMA at 1.2356, which might prove to be significant resistance for the current bullish reaction. In case EUR/CAD currency pair manages to breach it, then next resistance at 1.2443 (Weekly R1) is very likely to reverse
After a 2-day decline, EUR/AUD experienced a bullish reaction today, and now the currency pair is gradually approaching a weekly S1 at 1.1705, which might turn out to be a formidable resistance for the current advance. Although the movement upwards has already occurred, RSI indicator still remains in the over-sold area, therefore even further rally might be expected. On the other hand, support levels are
Today AUD/JPY regained bullish momentum. Even though the price has been lately moving within a downward channel, the outlook seems bullish, as today a new 3-month high has already been reached. If the uptrend continues, then the currency couple will face the upper Bollinger band at 82.935 that might prove to be a considerable resistance level for the current rally. However, if it fails to
The New Zealand dollar advanced confidently further and right now 0.8181 (R1 Weekly) is open for bullish traders. Thus, if bullish momentum holds further, 0.8256 (R2 Monthly) is likely to be hit first. A breakout here would pave the way towards the third resistance level at 0.8319 (61.80% Fibo).
Yesterday USD/CAD was trading close to the 200-day SMA at 1.0085, though the currency couple bounced from this line today and currently bears have chances to strengthen a bearish trend. If this is the case, then 1.008 (Lower Bollinger band) is going to be the first support level, followed by 0.9972 (S1 Weekly) and 0.9914 (S2 Weekly) in case of a successful breakout.
AUD/USD slightly recovered, and for now it maintains a bullish inertia. If bulls manage to develop a strong upward trend, then investors might encounter the second and third resistance levels at 1.0581 (R1 Monthly) and 1.0704 (R3 Monthly) as bullish momentum strengthens.
EUR/JPY is remaining neutral for now, though it might reiterate a bullish trend. And if the pair moves higher, 95.81 (PP Weekly) is likely to be an initial resistance line for bullish investors, a breakout of which would expose 96.35 (Upper resistance line) and 98.23 (55-day SMA), respectively.
Following repeated attempts of USD/CHF to commence robust recovery, resistance at 0.9809/25 allowed further appreciation of the U.S. Dollar after a pair's deep pull back down to 0.9711/0.9680. USD/CHF is expected to remain on a bullish path for now and encounter an initial resistance at 0.9923/39, while extension of a rally will require 1.0003 to be broken.
Breakout above a downtrend resistance at 78.37/54 has not yet been confirmed, implying increased possibility of continuation of a downtrend, being that descending triangle is believed to be a bearish formation. Violation of support at 78.06/77.98 will pave the way towards 77.77/63 and 77.34/32, while a subsequent line at 76.68/56 is near previous BoJ intervention levels.
GBP/USD is approaching a significant support level at 1.5472/50, behaviour of the pair near which may define its performance in the medium-term. In case the cable bounces off the support, then 1.5729/81 (100 and 200 day SMA and an uptrend resistance) will soon be retested. On the other hand, if 1.5472/50 does not withstand, 1.5253/24 will be targeted next.
EUR/USD has spiked up to 1.2406/47 yesterday, but was unable to close above resistance at 1.2337/64, which in turn has set in motion bearish tendency, resulting in a support level at 1.2244/22 being breached. Indicators on a weekly timeframe predicate continuation of a downward move, accordingly, the pair is likely to preserve current momentum at least until 1.2099/80.
Bearish tendency, which lasted for the lastthree days was stopped today, and now a bullish reaction takes place. If the movement upwards proceeds, then GBP/JPY might reach a 20-day SMA at 122.700, which might prove to be a strong resistance for the current rally. If it fails to reverse trend back to bearish, then next resistance at 122.900 (Monthly PP) might give some bearish impetus.
Despite being traded within a bearish channel, EUR/CAD currency pair experienced another rally today. Besides, yesterday's dip failed to extend to a new low, as a result, EUR/CAD is presently slowly approaching a 20-day SMA at 1.2367, where it might find formidable resistance. In case movement upwards proves to be strong enough to break the latter level, then next resistance at 1.2443 (Weekly R2) might