The outlook for the currency pair remains bearish considering a formidable resistance that lies ahead at 1.3300/12. The first support EUR/USD is likely to encounter is situated at 1.3174, then 1.3045 and 1.2974/54.
As long as a key support situated at 0.9066 remains untouched, there is little chance for USD/CHF to turn bearish. Near-term resistance is at 0.9148/68, reinforced by 0.9221. The longer term target lies at 0.9317/42.
Despite a resistance at 81.60/73 currently being ahead of USD/JPY, the level should not be able to contain the currency pair, which will leave 83.31/39 exposed. In case the rally extends further, 84.19 may be reached.
The Cable is approaching a tough resistance level at 1.6167 and seems to be losing bullish momentum, which is likely to result in a decline. The first support is located at 1.5984, lower levels may be found at 1.5874 and 1.5843.
EUR/JPY had failed to overcome 107.88/49 (55 day ma) and then dipped down to 106.33/105.95, where the currency couple should commence recovery. Once 108.00 is breached, the next target will become 108.62.
Rally of EUR/USD did not persist and the pair has once again fell below 55 day ma. A cluster of downtrend resistances cap the price at 1.3305/20, while the initial support lies at 1.3174, followed by 1.3045 and 1.2974/54.
According to experts from zifx.com, following an extensive rally of GBP/USD, the currency pair is presently undergoing a bearish correction. While the initial support and resistance levels are situated at 1.6037 and 1.6154, respectively, most of the indicators point to the downside, which supports the idea of a weaker British Pound relative to the US Dollar in the short-term, analysts
USD/CHF currency pair has weakened down to 0.9091, nonetheless, a key support at 0.9066 stays intact, which implies that the price should make another attempt to grow up to 0.9317/42, although it will have to overcome 0.9148/68 first.
Despite USD/JPY being currently in the vicinity of a tough resistance at 81.72/83, bullish bias should persist until the level gives in and paves the way for the pair to attain 83.31/39, which guards 84.19.
GBP/USD has managed to preserve its near-term bullish momentum and is presently well-placed to aim for 1.6167. The resistance is expected to contain the pair, which in turn will result in a dip down to 1.5984 or even 1.5865.
EUR/JPY has just reached a resistance located at 107.88/72 (55 day ma) and is likely to struggle here for some time. Afterwards, however, the currency couple should recommence surging and attain 108.62 en route to 111.43/57.
Even though EUR/USD has rallied above the 55 day ma, the price should halt near 1.3310/27 (downtrend resistance). Encounter with the latter level should provoke losses, which in turn are expected to extend down to 1.2974/54.
USD/CHF remains sidelined, but is still viewed as capable of challenging a resistance at 0.9317/42. A formidable support located at 0.9066/0.9000 should contain near-term dips of the price, thus preserving bullish outlook.
USD/JPY is soon to encounter a tough resistance at 81.93, breach of which would dispel doubts regarding the resumption of a long-term bullish move by the currency couple. Then the pair will aim for 83.31 and 84.19.
The Cable is attempting to close above 1.6062/67, which guards 1.609 and 1.6129. Nonetheless, the resistance is unlikely to give in for now and should be able to contain the pair. The interim support is at 1.5856/44 (55 and 200 day ma).
Penetration of a resistance at 107.10 confirms the ability of EUR/JPY to maintain the current course and climb even higher. The initial target lies at 107.88, while subsequent goals are at 108.62 and 111.43/57.
On the occasion that 1.3206 (55 day ma) remains untouched, the outlook for EUR/USD is negative. The closest support is at 1.2995/1.3004, followed by 1.2974/54 and 1.2854, which should be reached in the near future.
While USD/CHF is supported by a formidable level at 0.9066/0.9000, the pair is bullish and should penetrate 0.9180 in the near future. This would imply an extension of a rally up to 0.9317 with the possibility to reach 0.9595 afterwards.
Bearish correction is likely to be over at 80.29 and USD/JPY should now commence recovery. The initial resistance lies at 81.78, while 82.03, 83.31 and 84.19 will also attempt to hamper bullish advancement.
Even though the Cable bounced off 1.5848/40 (55 and 200 day ma) and is now headed towards 1.6062/67, there is little chance for the latter level to be breached. Additional support is provided by 1.5805 and 1.5780.
Breakout of 107.10 would confirm intentions of EUR/JPY to continue moving in the upwards direction and would set the following target at 108.62. Provided that 104.24/103.50 stays intact, we could observe a rally up to 111.43/57.
At the moment EUR/USD currency pair is contained by 1.3205 (55 day ma) from above and by 1.2995 form below. Given that long-term outlook remains negative, the focus is on the supports located at 1.2974/54 and 1.2945.
USD/CHF is anticipated to repeat its attempt to break through 0.9180 in the near future. Then it would aim for 0.9317/42, which lies en route to 0.9595. Supports may be found at 0.9125, 0.9085 and 0.9066.
The currency pair is now expected to start full blown recovery, as it has found a strong support at 80.82 and is headed towards 82.00/12. A close above 82.00/12 would confirm serious intentions of USD/JPY to surge further.