The British pound moved higher versus the greenback as construction PMI strengthened (54.3 act./51.3 est.), beating analysts estimates.
Along with EUR/USD, the Euro - Japanese Yen currency pair slipped today on disappointing German retail sales and crossed the daily forecast mean at 108.00.
The shared European currency committed a decline today versus the US dollar after piercing the daily forecast mean (1.3315) as German retail sales fell in January (-1.6% act./0.5% est.).
EUR/JPY has managed to remain above 106.94 and its bias is therefore bullish. Ahead of the pair is situated a tough resistance at 108.75, which guards 109.51/58 (55 week ma). In the longer term 110.18 is in focus.
USD/CHF is challenging resistance at 0.9066/88, which is needed to be overcome in order for the price to continue inching higher. Subsequent levels may be encountered at 0.9162 and 0.9203.
The currency couple is presently approaching a resistance area at 81.49/63, which is unlikely to hamper bullish move. USD/JPY is preserving upward momentum and may advance up to 83.80 in days to come.
Rallies are unlikely to extend above 1.6000 and 1.6103 for now. The pair is thus anticipated to slide down to 1.5897 (200 day ma). In case the latter level does not withstand bearish pressure, we might observe dips to 1.5802 or even 1.5737.
EUR/USD is now bearish and is expected to decline even further. Support at 1.3199 has already been attained, while the following targets lie at 1.3141 and 1.3070 (55 day ma). Resistances at 1.3389 and 1.3436 cap the pair from above.
USD/CHF slightly rose today, leaving the daily market participants mean at 0.9019 intact, on stabilizing US unemployment data.
USD/JPY continued advancing upwards as the Unemployment claims in the US remained at the 4-year low (351K act./350K est.).
The British pound moved higher against the US dollar as the Nationwide monthly HPI rose more than expected (0.6% act./0.3% est.).
EUR/JPY slipped today on mixed EU macroeconomic data, causing the pair to breach the daily forecast mean at 108.2.
The shared European currency depreciated today versus the American dollar as the EU unemployment rate jumped higher (51.2 act./51.9 est.).
The price is presently increasing, however, in order to ascertain its bullishness, USD/CHF will have to climb above 0.9066/88. Another resistances may be encountered at 0.9175 or at 0.9203. Supports are at 0.8931 and 0.8788/73.
Bullish momentum of USD/JPY has not yet weakened and the pair still gravitates to 81.49/63. Afterwards the price is likely to set its goal at 83.80. Dips should be contained by supports at 80.42, 80.00 and 79.55 as well.
Near-term rallies are unlikely to extend above 1.6000 until the end of the week. GBP/USD is anticipated to step lower, down to 1.5899 (200 day ma) first, then 1.5802. Additional support is situated at 1.5650/43.
Being that the currency couple is underpinned by a tough support located at 107.01, the long-term outlook is positive. After gaining a foothold above 108.75 it is expected to advance towards 109.51/58 (55 week ma).
The recent bullish correction is now deemed to be over. The initial target for the pair lies at 1.3322, followed by a support at 1.3293. Lower levels could be found at 1.3199, 1.3126 (55 day ma) and 1.3066.
Dollar Swissie broke through the 0.9000 line today as Chicago PMI rose more than forecast (64.0 act./61.6 est.).
USD/JPY traded above the 80.88 today as preliminary annual US GDP rose more than expected (3.0% act./2.8% est.).
The Cable declined today versus the American dollar as the GfK consumer confidence slumped (-29 act./-27 est.).
EUR/JPY fell sharply today as the ECB gave a record amount of loans - 530B of euros - to the European banks.
The pair plummeted today, breaching the daily forecast at 1.3409, as German Unemployment remain unchanged in January (0K act./-5K est.).
The initial support line for USD/CHF is situated at 0.8827. Subsequent levels may be found at 0.8788 and 0.8773. From above the pair is capped by resistances 0.9000 and 0.9066. Both near- and long-term outlooks are negative.