Following a fall down to 0.9304 (55 day ma), USD/CHF managed to recover. In order to restore its bullish outlook and challenge 0.9595 again, the price will have to overcome a key resistance at 0.9410/50 first.
After rebounding from 76.63, USD/JPY is expected to carry on rising while encountering resistances situated at 77.50, 78.42 (200 day ma), 79.49 (55 week ma) and 80.00. At the moment the currency pair is attempting to breach through 100 day ma at 77.19.
Bullish momentum of the Cable is weakening while the currency pair is closing in to 55 day ma at 1.5606/81. Test of this resistance is expected to trigger a sell off down to 1.5272 with perspectives of reaching 1.4260/29 in the longer period.
The currency pair is already approaching its initial goal located at 100.45/77 and is likely to continue to move en route to 102.55/60 which should cap further advancement. Nonetheless, the long-term outlook is negative with final destination at 94.92.
EUR/USD is expected to extend its bullish correction up to 1.3077/1.3145. Rallies, however, should not surpass a threshold of 1.3245. The initial support lies at 1.2850, it is reinforced by levels at 1.2810/00 and 1.2698.
After being repelled by a tough resistance situated at 0.9595, USD/CHF has plummeted down to 0.9317. To overthrow bearish bias toward the pair, it will have to reach 0.9415 and then attempt to overcome 0.9595 once more.
Eventually USD/JPY should be able to erode resistance at 77.69 and then subsequent lines at 78.45 (200 day ma) and at 79.56 (55 week ma) as well. At the moment the pair is breaking through the 100 day ma at 77.18.
The Cable is currently advancing, although its upward movement should slow down while the pair is approaching 55 day ma at 1.5614/60. In the long run GBP/USD is perceived as bearish with the possibility of falling down to 1.4260/29.
EUR/JPY has breached a downtrend implying the possibility of extending its gains. Bullish impetus is expected to last until 100.45/77 or 102.55/60 resistance areas are encountered. The initial support is at 99.33.
The currency pair has overcome 1.2830 (20 day ma) and is now headed toward 1.3077/1.3145. However, a resistance level located at 1.3245 is unlikely to be challenged. Supports at 1.2880/30, 1.2800 and 1.2698 should cover dips.
The pair continued its bearish correction as US housing starts (0.66M act./0.69M est.) disappoined investors and traded below the 0.9400 level.
The American dollar remained trading in 76-77 channel versus the Japanese yen, hitting the daily forecast mean (76.79) as the US m/m Core CPI was released in line with the analysts expectations (0.1% act./0.1% est.).
GBP traded in a narrow channel today as no significant news has been released, leaving the target at 1.5327 intact.
The pair continued its bullish correction on successful Spanish bond auction, showing risk appetite among investors is improving. The daily market participants' target (98.23) remained untapped today.
The single European currency advanced today, leaving the daily forecast (1.2794) intact, after Spain sold more than previously announced in its debt.
The currency pair has tumbled down to a support at 0.9384/17 which is anticipated to withstand bearish pressure. After retesting this level USD/CHF should commence surging and eventually attain 0.9595.
USD/JPY currency pair has formed a base near 76.58 support level and is looking to make an attempt to pierce through 77.69. In either case subsequent resistances are situated at 78.49, 79.56 and 80.00.
After bouncing off a formidable support at 1.5272 the Cable is recovering. Nonetheless, current rally is unlikely to extend beyond 55 day ma at 1.5624 and an additional resistance at 1.5669.
Rally of EUR/JPY is gaining momentum, suggesting a further recovery of the pair. Being that 98.30 has been already overcome, the next target lies at 100.45/77. However, in the long run the currency pair is expected to decline to 94.92.
EUR/USD is attempting to close above 20 day ma at 1.2851/77. Should the price confirm a breach, the pair is likely to carry on advancing until it reaches 1.3077/1.3145. The initial support may be found at 1.2782, followed by 1.2711 and 1.2624.
Considering the long-term perspectives, USD/CHF is expected to continue trading well above 0.9377/17. Ultimately, the price should climb up to 0.9595 and surpass this threshold. The immediate resistance and support are located at 0.9572 and 0.9448.
USD/JPY has just retested 76.56 and is getting ready to challenge the initial resistance line situated at 77.69. In case the latter level is breached, the price then will target resistances at 78.52 (200 day ma) and at 79.56 (55 week ma).
A key support level at 1.5272 in conjunction with a subsequent line at 1.5145 has repelled the Cable, sending it higher. Even though resistances at 1.5633 (55 day ma) and 1.5672 are likely to halt rallies, the price should attempt to recover.
Bullish momentum of the pair has faded off circa 98.29. Now EUR/JPY is expected to commence trading off toward 94.92. However, this target will be reached provided that the price penetrates supports located at 97.04 and 96.15.