EUR/USD slipped down to 1.2051 and is currently stabilising before recommencing movement towards 1.2002/1.1976, where the pair might attempt to reverse medium-term tendency, while long-term outlook, nonetheless, should remain bearish. Rally then is likely to encounter resistances at 1.2106 and 1.2187 and possibly could extend even higher.
NZD/USD is continuing its movement within a rectangle pattern, and has embarked a bullish direction. The closest targets now are 0.7950 (20-day SMA) and 0.7982 (weekly forecast target). However on the weekly target technical indicators give bearish signals , pushing NZD/USD to the lower Bollinger band at 0.7860.
Despite bearish technical indicators, USD/CAD is continuing its bullish movement within a downward channel pattern, and it is likely to be capped by 55-day SMA at 1.0228. After a potential rebound, the first targets for bears would be 20-day SMA at 1.0174 and weekly S2 at 1.070.
Aussie has started recovering after a three-day slide, and currently is moving towards the Upper Bollinger band at 1.0411. The pair is likely to test monthly R1 at 1.0470 in near-term. However, a slide to 200-day and 20-day SMA at 1.0289/44 might occur in case of new fundamental shocks.
EUR/JPY is continuing its slide on weak European fundamentals. The next targets for the pair could be 93.71 (lower Bollinger band) and Monthly S2 at 92.84. In case of a surprising trend change, bullish movements are likely to be tested by 20-day MA at 96.70. However, aggregate technical indicators solely give bullish signals on 1D, 1W and 1M timeframes.
After short-term downward trend, that started on July 13th, USD/NOK currency pair experienced a small bullish correction and is currently heading towards a resistance level at 6.1293 (Monthly PP). In case it fails to bring some bearish impetus, then next resistance at 6.1556 (Upper Bollinger Band) might be the reversal point for the current upward movement. At the same time,
USD/CHF stalled at 0.9906, being unable to overcome it. Nonetheless, one of the following attempts to breach this resistance should be successful, allowing the pair to surge further en route to 0.9960/83, while extension of a rally up to 1.0018/42 will take considerably more effort. In the meantime, supports at 0.9853 and 0.9795/72 should limit possible losses.
Support area at 78.16/08 managed to withstand yesterday's bearish pressure, but is still unlikely to hold off the currency couple from sliding down to 77.85 for a prolonged period of time. Additional supports are located at 77.33 and 76.59/39 and will be tested only in case current downward momentum strengthens as suggested by technical indicators.
The Cable has bounced off a support line at 1.5504, though gains are likely to be tepid, given that the currency pair is headed towards 1.5283/51 and long-term outlook for which is from neutral to bearish. In case of a rally, resistances at 1.5574/83 and 1.5620 will guard a key zone at 1.5724/31 from being challenged.
EUR/USD remains flat just above 1.2106, but is expected to recommence inching lower, being that indicators for daily and monthly timeframes are mostly bearish. Moreover, there are no formidable supports until 1.2020/1.1976, from where the pair might undergo a prolonged bullish correction due to a strong downtrend support.
Aussie has been on the decline for the last three trading days, and AUD/USD is currently testing the 20-day SMA at 1.0253 (near Support 2). If the level is broken, we are likely to see a slide towards parity, where activation of bulls is expected. Weekly R1 at 1.0417 is capping the pair's potential bullish moves, serving as the first
Aggregate indicators point to a continuation of the three-day downward movement of the pair closer towards the lower Bollinger band at 0.7888. If the level is broken a slide to 0.7821 (100-day SMA) is likely. The longer-term (1M) outlook is neutral and most likely will be influenced by fundamentals.
USD/CAD is edging towards the R2 (20-day SMA) at 1.0175, while a minor correction is expected today, closer to 1.0112 (Daily forecast). The first significant barrier to the pair's downfall is near the 200-day SMA at 1.0107. Meanwhile, USD/CAD bullish movements are capped by weekly R3 at 1.0257.
EUR/JPY is hitting its eleven-year low, and currently is trading around 94.58 after re-emergence of Greek exit talks and turmoil in Spanish banking sector today. A slide towards the 90.00 psychological level will strongly be detained by the lower Bollinger band at 93.60. A small correction is expected by the largest market participants to 65.72/86 with a further slide afterwards.
Since the last report USD/CHF has penetrated several resistances and is about to confirm a break of 0.9906 today, above which it will aim for 0.9960/87 first, then for 1.0018/42. The nearest support is located at 0.9853, followed by 0.9795, though a key level is situated at 0.9692/88, safety of which preserves bullish outlook of the price in the long-term.
USD/JPY is currently grinding down a support area at 78.22/08, after which it is likely to target 77.85, while a lower level at 77.33 has a much lesser chance of being attained, since in general indicators are neutral. Even though resistances at 78.68 and 78.98 are unlikely to come into play, they will attempt to limit rallies en route to
GBP/USD has just confronted a formidable level at 1.5585/83, which should be eroded and then allow further depreciation of the British Pound relative to the U.S. Dollar. Subsequent supports lie at 1.5530/04 and 1.5427/1.5389 and will be even harder to breach, though the pair is expected to regain bullish momentum only near 1.5289/49, consequently, rallies are to remain shallow.
Friday bearishness of EUR/USD has been halted by support at 1.2106. Although, given that majority of technical indicators continue to point to the downside, this level is likely to give in and thus pave the way towards 1.2051 and 1.2012/1.1976. In case of strong recovery the pair will encounter resistances at 1.2187 and 1.2262.
Rally above 0.8021 was not sustained, leading to a precipitous fall of NZD/USD, which might extend beyond 0.7991 (200 day SMA) and reach subsequent support at 0.7960/30, where a consolidation phase should be commenced. In case the pair moves even lower, it will find additional support levels at 0.7884/68 and 0.7835/04, which at the moment remain safe.
Following an encounter with an accelerated downtrend support at 1.0062, USD/CAD commenced a robust recovery, which has already resulted in a 200 day SMA being effortlessly pierced by the pair. Next notable resistance levels are situated at 1.0105, 1.0159/70 and 1.0218 and are viewed as capable of impeding further advancement by partially or even fully negating bullish impetus.
The Aussie dollar is moving higher against the US dollar and at the moment the pair is floating around 38.20% Fibo level at 1.0400. In case bullish momentum strengthens further, investors might encounter the second and third resistance levels at 1.0490 (R3 Weekly) and 1.0574 (23.60% Fibo), respectively.
The shared European currency fell against the Japanese Yen and currently the pair is approaching an initial support level at 96.21 (Upper support line; S1 Weekly). However, if bearish momentum strengthens and the first support line is going to be breached, 95.60 (June 1 Low) and 95.11 (S2 Weekly) are likely to be next.
Following a pullback down to 0.9737, USD/CHF started to gain bullish momentum, signalling termination of a bearish correction and beginning of another leg up. At the moment the pair is struggling at 0.9805, strength of which should be already exhausted, therefore resistances at 0.9873/0.9906 and 0.9940/47 may soon be challenged.
USD/JPY keeps on sliding lower and is viewed as capable of falling down to 78.08/77.97 in near-term as there are no tough levels situated in the interval between it and the interim support at 78.57/52. However, being that daily and monthly indicators turned neutral, the pair may put on hold bearish move and consolidate above 78.57/52 prior to a precipitous