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.
The Aussie dollar slumps lower against the US dollar along with the 55-da simple moving average. If bearish correction deepens further, 0.9955 (S1 Weekly) is likely to become the first target. A breakout here would expose next support lines at 0.9826 (23.60% Fibo) and 0.9740 (Lower Bollinger band; S3 Weekly), respectively.
The shared European currency moved lower today against the Japanese Yen. Yet, if bullish momentum holds, 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) is going to be cleared.
USD/CHF holds an upbeat momentum, thus it is likely 0.9639 will be the first target among bulls. A breakout here would pave the way to 0.9736 (May 31 High) and 0.9806 (R3 Weekly), respectively. In an alternative case, if bears overtake the initiative, 0.9531 is going to be the first support for the currency traders, though the bearish correction is likely to be confronted by
USD/JPY slumped today in early trading session, though the bullish mood is likely to hold as the pair is trading above 55-day simple moving average. Thus, if the currency pair edges higher, 80.76/81 (100-day SMA; upper Bollinger band) is going to be the first target among bullish traders. 81.19 (R1 Weekly) and 81.52 (61.80% Fibo; R2 Monthly) are going to be the next targets if
The British pound is set to recover Friday loss today against the US dollar. If bullish momentum emerges, 1.5667 is prone to become the first target (PP Monthly), followed by 1.5749 (200-day SMA) and the 1.5830/60 zone (100-day SMA; R2 Weekly) respectively, if the bullish bias remains.
EUR/USD is gradually sliding lower, approaching initial support at 1.456 (S1 Weekly). A successful breach of this line would expose the next support levels at 1.2434 (Lower Bollinger band) and 1.2375 (Lower support line; S2 Weekly) in case bearish momentum holds further.
NZD fell against the greenback and currently is floating around the 0.7840 level (55-day ma; PP Weekly). Thus, the pair might fall further towards 0.7725 (PP Monthly). If bullish scenario to occur, 0.8012 (upper Bollinger band; R1 Weekly) is going to be the first target for bulls. A breakout here would expose 0.8106 (R2 Weekly) and 0.8162 (Upper resistance line).
USD/CAD continued the really and breached the 1.0289 level (R1 Weekly), indicating a reiteration of the bullish trend on USD/CAD. Thus, 1.0373 (Upper Bollinger band; R2 Weekly) and 1.0420 (R3 Weekly; Upper resistance level) are likely to be targeted next, though the pair might retrace from the latter line.
AUD dived against the US dollar, piercing the 1.0031 level. Thus, it is expected that, in case bearish momentum intensifies, 0.9931 (S1 ) is going to be the next target. A breakout here would expose the third level at 0.9665 (lower Bollinger band; S3 weekly).
EUR/JPY attempts to advance further as it confidently inches towards 101.29 level. If bulls manage to hold the momentum, then after 101.29 level (R1 Weekly) is breached, 102.13 (Upper Bollinger band; R2 Weekly) and 103.74/53 (200-day ma; R1 Monthly) might become the next targets among bullish investors.