EUR/AUD currency pair remains bearish, while slowly approaching Weekly S2 at 1.1653, where it might gain some bullish momentum. In case it is breached, then the Lower Bollinger Band at 1.1619 is very likely to reverse short-term tendency. Besides, RSI indicator has already remained for some time in the over-sold area, therefore trend reversal might occur at any time. On the other hand, current resistance
The Kiwi dollar commenced trading in a flat trend today against the US dollar, though bullish investors do not lose hope to push NZD higher. If bullish impetus continues, 0.8112 (upper Bollinger band) is likely to be hit first. A breakout here would pave the way towards 0.8181 (R1 Weekly) and 0.8256 (R2 Monthly).
Although USD/CAD is trading near a psychological parity level (1.00, the pair managed to continue bouncing from this line and for now 1.0085 might serve as an initial resistance level, confirmed by a 200-day simple moving average. A breach of this line might expose further resistance lines at 1.0157 (100-day SMA) and 1.0257 (PP Monthly), accordingly.
The currency pair laid back a bit, approaching the first initial support level at 1.0406 (38.20% Fibo), though bulls try to establish an upward trend. If this is the case, investors might encounter the second and third resistance levels at 1.0581 (R1 Monthly) and 1.0704 (R3 Monthly) as bullish momentum strengthens.
The pair remains resilient after Mario Draghi's press conference as the EUR/JPY currency pairs is currently trading in a price range of 95.80/96.20. If the pair moves higher, 96.35 (200-day SMA) is likely to be an initial resistance line for bullish investors, a breakout of which would expose 98.23 (55-day SMA) and 99.39 (PP Monthly), respectively.
Without reaching support at 0.9708/0.9677, USD/CHF managed to gain bullish momentum and confront 0.9809/20, though the currency pair appears to have some difficulty at overcoming it, which in turns delays attainment of subsequent resistances at 0.9923/31 and 1.0003. In the meantime, dips should be limited by support levels at 0.9738 and 0.9708/0.9677.
Despite a descending triangle on the chart (the pattern which is commonly believed to be bearish), USD/JPY is attempting to close above a downtrend resistance at 78.37 and commence recovery. If the pair succeeds at breaching the resistance, area at 78.62/80 and a level at 79.11 will oppose further advancement. Still, we may not yet rule out a possibility of
The cable has effortlessly pierced through several supports yesterday, resulting in an accelerated down move, which was only stopped by 1.5533 (weekly S1). Consequently, we expect a bullish correction to occur, though resistance at 1.5573/1.5608 is unlikely to allow the rally to extend, keeping the overall bias bearish. Afterwards, the pair is anticipated to aim for 1.5472/50.
EUR/USD is slowly eroding support at 1.2244/29, which is unwilling to give in easily. Nonetheless, bears are expected to overcome this obstacle and drag the price lower. The initial target lies at 1.2099/89, while subsequent ones at 1.1996 and 1.1896 are likely to be attained in the medium-term. Temporary initiatives of bulls, on the other hand, should end either at
Yesterday's bearish movement turned out to be short-lived, and in the end another bullish reaction took place, however, today EUR/AUD currency pair returned to its bearish tendency and now is gradually moving closer to an initial support level at 1.1654 (Weekly S2). In case it fails to bring some bullish momentum, then next support at 1.1629 (Lower Bollinger Band) might be the reversal point for
Although RSI indicator shows no particular signal, GBP/JPY continues its stable downhill movement, that was started on the 29th of July. The currency couple is slowly approaching a weekly S1 at 121.588, where the currency pair might find support for the bearish momentum. However, GBP/JPY is still expected to continue trading lower , while only a lower Bollinger band at 121.185 might turn out to
Bullish tendency is still in action, and a new 3-month high has already been reached. AUD/JPY currency pair is about to confront an upper Bollinger band at 82.776, where it is likely to find a resistance level for the current upward trend. In case it is breached, then the next resistance at 83.066 (Monthly R1) will probably bring some bearish impetus. At the same time,
Yesterday's bullish correction has ended, and now EUR/CAD currency pair may continue its downward trend, which was started about a month ago. At the moment, EUR/CAD decline might find support at a lower Bollinger land at 1.2281, however, if it is broken, then next support at 1.2194 (Weekly S2) is very likely to create a bullish reaction. In addition, RSI indicator went out of the
After a slight increase yesterday, EUR/JPY is on the downside today, en route towards S1 weekly at 94.80. In case the pair continues the long-term bearish movement, we are likely to see it striving towards 91.10, where the monthly S3 stands. However, currently the pair is in the close to the weekly forecasts, so sharp movements of the pair are
After an insignificant slide yesterday, AUD/USD has gained footing and today is continuing rally of two months. Despite a neutral aggregate signal from technical indicators today, the weekly outlook on the pair is negative. RSI (14) has almost reached its critical value of 70, so a trend reversal is expected in short-term. The first significant pair's target can be around
The psychological parity level (1.00) has served as a strong support for the USD/CAD pair. With the RSI (14) approaching its oversold area, we are likely to see the pair augmenting in near-term. The aggregate technical indicators give us a Buy signal in the weekly timeframe as well. Thus, 1.0086, where the 200-day SMA lies, can be the first bullish
After an almost flat trade yesterday, the pair has slightly augmented today despite a neutral outlook based on aggregate technical indicators. The weekly outlook of the pair is negative with RSI (14) moving closer towards the overbought area of 70. In the bearish case, we are likely to see the 20-day MA at 0.80055 as the first target for NZD/USD.
USD/CHF is retreating from 0.9809/16 further away and should soon encounter support at 0.9738, though the currency pair seems to gravitate towards an even lower level at 0.9701/0.9674, which in turn is expected to withstand bearish pressure. Additional supports lie at 0.9647 and 0.9532, but are likely to remain intact for now, since the pair preserves long-term bullish outlook.
USD/JPY was unable to sustain a rally and has quickly returned to 78.06/77.98. Moreover, being that it has formed a descending triangle and is approaching an intersection of a trendline connecting lower highs and of a strong horizontal support, the currency pair is likely to break out of the pattern and then aim for an interim support at 77.71/63.
Formidable resistance area at 1.5729/58 (composed of 100 and 200 day SMAs and an uptrend resistance) has repelled attack of the pair, sending it down to 1.5650. The latter level should soon give in and pave the way towards the following support at 1.5608/1.5574. In the medium-term GBP/USD is expected to fall even lower - towards 1.5472/50 (uptrend support).
Bulls have quieted down after a shallow rally and should allow bears to take over and push the currency pair through an interim support at 1.2244/32 en route to a subsequent level at 1.2099/1.1996. However, this is unlikely to happen today (given that technical indicators for a daily timeframe are neutral) but later this week. In the meantime, resistances at
Bearish downtrend that started on the 29th of July has ended, and now a bullish reaction takes place, although RSI indicator remains neutral. As for now, AUD/JPY currency pair is heading towards Upper Bollinger Band at 82.689, where it is very likely to find resistance for the current rally. If necessary, next resistances at 83.167 and 84.205 might bring some
EUR/CAD managed to reach a new low yesterday at 1.2273, however, it bounced back from the Lower Bollinger Band, where it gained some bullish impetus. Although RSI indicator went out of the over-sold area, the short term outlook still seems bullish. As for now, EUR/CAD might find resistance at 1.2363 (Weekly PP), but if it is breached, then 20-day SMA
EUR/AUD continues its bearish trend that was started yesterday and has nearly reached a new low. For now, movement downwards is expected to persist, however, RSI indicator shows a buy signal, therefore soon a bullish bounce back might be expected. EUR/AUD might face support at 1.1653 (Weekly S2), but if it fails to stop bearish tendency, then next support at