Bullish inertia of USD/CHF added to gains yesterday and now the pair attempts to pair previous weekly losses. The continuation of the upward trend would allow traders to profit from targeting 0.9595 level, followed by next resistance levels at 0.9676 and 0.9733.
USD/JPY continued the rally yesterday and now attempts to hit the initial resistance line at 80.78. Once this level is left behind, bulls might target 81.09 and 81.52. However, a short-term correction is possible before the currency couple continues advancement, thus 80.03 and 79.67 are likely to become starting points for this rally. A breach of 79.20 would signal the bearish mood returned in USD/JPY.
The Cable committed a decline yesterday, increasing the chances the pair is going to test the initial support level at 1.5534. Despite the strength of the bearish momentum, which is shown by the daily indicators, the currency couple should stabilise ahead of the latter level, as suggested by longer term studies. An interim resistance lies at 1.5667, followed by 1.5754.
EUR/USD is approaching the 1.2300 mark, which should be capable of holding the currency pair until the end of the current week and trigger some short squeezing. Although the long-term outlook for the currency couple remains negative, EUR/USD might retrace bacj to 1.2631, a breach of which would expose the 1.2778/1.2820 zone and 1.2984, respectively.
NZD slumped today as investors stick to a bullish outlook in the jobless claims. Holding above the 200-day ma signals that the pair is likely to turn bullish, however it has to close above 0.7961 today. If bullish scenario to emerge, 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
USD/CAD attempts to stabilize and reiterate bullish trend as currency traders expect a decline in the US jobless claims. If the bearish mood emerges, 1.0174 (PP Monthly) will be the first level in the cross-hairs. A breakout of this support would pave the way to 1.0110 (S2 Weekly; Lower Bollinger band) and 1.0003 (100-day ma; S3 Weekly).
AUD committed a decline against the US dollar ahead of the US data announcement. Thus, if AUD/USD to remain bullish, 1.0212 (R1 Weekly; Upper Bollinger band) is going to be the first target for bulls, followed by 1.0283/312 (200-day ma; R2 Weekly) and 1.0493 (R3 Weekly) in case the pair moves higher.
EUR/JPY tries to establish a bullish trend after French Flash Manufacturing (45.3 act./44.6 est.) and Services (47.3 act./45.1 est.) rose more than expected. If bullish holds the ground, 101.29 level (R1 Weekly) is likely to be the initial resistance line. A breach of this level would pave the way to 102.13 (Upper Bollinger band; R2 Weekly) and 103.74/53 (200-day ma; R1 Monthly) levels.
USD/CHF stalled after falling below 0.9508/0.9497, but bearish momentum is likely to persist, being that most of short-term technical studies foresee further weakening of the U.S. Dollar relative to the Swiss Franc. The currency pair should thus decline to 0.9408/0.9393 or 0.9280/57 before commencing recovery and reviving bullish long-term outlook.
As anticipated, USD/JPY rebounded from a support at 78.53 and pierced through a formidable resistance area at 79.06/20, confirming its serious intention to surge further. At the moment the currency pair challenges 79.67/74, breach of which will pave the way towards 80.03/06 and 80.27. On the other hand, being that most of indicators are from neutral to bearish, continuation of
GBP/USD seems to be planning to undergo a minor bearish correction prior to breaching a tough resistance area situated at 1.5756/83, which in turn is reinforced by a zone at 1.5818/46, and was not expected to be overcome in a very first attempt. Current dip is unlikely to extend below 1.5667/05. Such a scenario, however, may not be ruled out,
Today we may expect another leg down, which should be contained by an uptrend support line at 1.2660/31. In case this level is unable to halt bearish advancement, subsequent supports at 1.2550/15 and even at 1.2341/26 may come into play. An initial resistance on the other hand may be found at 1.2759, followed by 1.2792/1.2820, which will remain as the
NZD advanced against the US dollar ahead the FOMC meeting announcement. If bullish momentum to intensify, 0.7961 (200-day ma) is going to be the first target for bulls. Once this line is left behind, 0.8012 (Upper Bollinger band; R1 Weekly) and 0.8106 (R2 Weekly) will be in focus among bullish investors.
USD/CAD halted today before the FOMC meeting as investors expect the Fed representatives to introduce a new round of . If the bearish mood emerges, 1.0174 (PP Monthly) is going to be the first support among bearish investors. A breakout here would expose 1.0110 (S2 Weekly; Lower Bollinger band) and 1.0003 (100-day ma; S3 Weekly).
AUD edges higher against the greenback as the major market players expect the FOMC to announce new economic stimulus measures for the US economy. Thus, if AUD/USD to keep bullish impetus, 1.0212 (R1 Weekly; Upper Bollinger band) is going to be the first target for bulls, followed by 1.0283/312 (200-day ma; R2 Weekly) and 1.0493 (R3 Weekly) in case the pair moves higher.
EUR/JPY traded in a flat trend today ahead of the FOMC meeting, which will indicate whether the Fed is going to launch a new round of the Quantitative Easing. If bullish trend continues, 101.29 level (R1 Weekly) is likely to be the initial resistance line. A breach of this level would pave the way to 102.13 (Upper Bollinger band; R2 Weekly) and 103.74/53 (200-day ma;
Support at 0.9508/0.9497 was unable to withstand bearish pressure, allowing the currency pair to fall precipitously. Most of daily indicators suggest further bearish development, while aggregate monthly bias is a buy signal. Therefore USD/CHF is anticipated to step lower to 0.9387/67 or even 0.9280/54 prior to a long-term recovery.
USD/JPY is still struggling with a resistance zone at 79.02/19 and seems to be in need of an additional try in order to climb over it. Accordingly, the currency couple is likely to pull back for now, sliding down to 78.53 or 78.04/00, where it will regain bullish momentum and challenge the area once more. Once it is overcome, subsequent
Step by step GBP/USD is inching higher in an attempt to erode 1.5757/80, which in turn is reinforced by a tough resistance zone at 1.5817/48 and is not expected to give in easily. As soon as the latter area is penetrated, the Cable will then be able to target 1.6192. In the meantime, supports at 1.5667/05 and 1.5533/30 will be
EUR/USD continues to bounce off an accelerated uptrend support despite the pair dipping occasionally and thus constantly shaking the view the price is able to advance further. While an initial resistance is located at 1.2743, the first considerable level is likely to be encountered at 1.2800/20, followed by an even more formidable area that stretches from 1.2881 to 1.2984.
NZD/USD attempts to jump higher, though the US positive macroeconomic data (Building permits: 0.78M act./0.73M est.) holds the pair back. If bullish momentum to intensify, 0.7961 (200-day ma) is going to be the first target for bulls. Once this line is left behind, 0.8012 (Upper Bollinger band; R1 Weekly) and 0.8106 (R2 Weekly) will be in focus among bullish investors.
USD/CAD paired previous daily losses as the US building permits rose more than forecast (0.78 act./0.73M est.). If the bearish mood emerges, 1.0174 (PP Monthly) is going to be the first support among bearish investors. A breakout here would expose 1.0110 (S2 Weekly; Lower Bollinger band) and 1.0003 (100-day ma; S3 Weekly).
AUD attempts to move higher against the US dollar as the Spanish debt turmoil came back into the spotlight. Thus, if AUD/USD to remain bullish, 1.0212 (R1 Weekly; Upper Bollinger band) is going to be the first target for bulls, followed by 1.0283/312 (200-day ma; R2 Weekly) and 1.0493 (R3 Weekly) in case the pair moves higher.
EUR/JPY fell today as the Greek post-election optimism faded, bringing problems of Spain back to the spotlight. If bullish trend keeps maintained, 101.29 level (R1 Weekly) is going to be the first target. A breach of this line would pave the way to 102.13 (Upper Bollinger band; R2 Weekly) and 103.74/53 (200-day ma; R1 Monthly) levels.