As expected, USD/JPY surged from 79.53 and is about to confront in interim resistance situated at 79.84, which is unlikely to prevent the pair from advancing further. Serious challenge awaits the currency couple at 80.41/63, however, it may still may be a subject to a fall down to 79.31/12 before it manages to fully restore bullish outlook and start aiming
Despite GBP/USD edging higher, currency pair's current upward momentum is deemed too weak to overcome 1.5733/35 at the moment. Therefore the price is likely to bounce off this resistance and perform a bearish correction down to 1.5624/20 or even to 1.5570/34 prior to commencing robust recovery up to a long-term target that lies at 1.6140.
EUR/USD was unable to sustain Friday's rally due to an encounter with a tough resistance located at 1.2671/84. This has lead to a pullback to a support at 1.2587/73, which may trigger some temporary short-squeezing, but is expected to be soon eroded nevertheless. Additional levels are to be found at 1.2483 and 1.2418/1.2399, since the overall outlook remains bearish.
The Kiwi dollar inched higher against the US dollar, and at the moment the pair is heading towards an initial resistance at 0.8082 (61.80% Fibo). Once this level is breached, 0.8166 (R2 Weekly) and 0.8227 (R1 Monthly) are going to be next targets among bullish traders.
The US dollar has been trading flat against the Canadian dollar, stabilizing around the 55-day SMA. If bullish reversal to take place, 1.0229 (PP Weekly) is likely to be the first target for bulls, followed by 1.0299 (R1 Weekly) and 1.0327 (Upper Bollinger band).
AUD/USD remains bullish though it inched slightly lower today. If the bullish momentum holds further, 1.0347 (R1 Weekly) is likely to be the next target. A breakout here would expose 1.0464 (R1 Monthly) and 1.0574 (23.60% Fibo), respectively.
The single European currency moves lower against the US dollar after investors' cheer over the EU summit agreements phased out. Thus, as the bearish bias holds, 100.24 (PP Weekly) is going to be an initial support level for bears, while a breach of this line would expose the second and the third resistance levels at 99.30 (PP Monthly) and 98.63 (Lower Bollinger band), respectively.
Despite USD/CHF sliding slightly lower than expected, the currency couple was able to commence recovery at 0.9481/72, which first should lead to an attainment of 0.9545/61, then a retest of 0.9628/51. Given the long-term bullish outlook and majority of signals from weekly technical indicators being "buy", the pair is likely to erode the latter level and advance further.
USD/JPY did not manage to lift from an uptrend support and is currently returning back to 79.52, which should withstand the pressure in conjunction with 79.31/12, thus forming a wide, but nevertheless a formidable area. As we still cannot rule out a possibility of the aforementioned zone being breached, it is worth mentioning that additional supports are at 78.65/40 and
Bullish momentum of GBP/USD attenuates ahead of a cluster of resistances located at 1.5737/66, suggesting we are likely to see another leg down before positive outlook is fully restored. Potentially, the Cable is set to attain 1.6155, however, is bearish in the short-term. An interim support is at 1.5625/11, while 1.5570/36 should halt dips from extending further.
Rally of EUR/USD proved to be fragile once it encountered an accelerated uptrend resistance at 1.2683/1.2700. At the moment the currency pair is gaining bearish momentum in an attempt to renew its long-term tendency to slide down while being capped by 1.2847/68. The initial support lies at 1.2584/73, followed by 1.2476 and 1.2420/1.2399.
NZD jumped higher today against the US dollar and the pair is currently hovering near 0.7970 level (200-day SMA). If bullish momentum stengthens, 0.8082 (Upper Bollinger band) is likely to become the second resistance for bullish investors. A breach here would expose the third resistance at 0.8148 (R3 Weekly).
The US dollar fell against the Canadian dollar after the release of disappointing US macroeconomic data. As the pair failed to breach the 1.0323, USD/CAD might test 1.0241 (PP Weekly) as an initial support. If bearish inertia adds to gains, 1.0183/74 (S2 Weekly; PP Monthly) and 1.0133 (100-day SMA) might be targeted next.
The bullish bias is still holding on AUD/USD as the pair successful breached the 1.0118 (61.80% Fibo) level and at the moment is attempting to test the second resistance at 1.0179 (R1 Weekly). A breakout here would pave the way to the last resistance at 1.0215/20 (100-da SMA; R1 Monthly).
The shared European currency skyrocketed today against the greenback as the EU top officials came up with concrete plan to address the debt turmoil. If a bullish trend accelerates, then 100.58 (PP Weekly) is likely to be the first target to be tested by bullish investors. If this level is successfully left behind, a path towards 102.15 (R1 Weekly; Upper Bollinger band) and 104.55/65 (100-day SMA;
As anticipated, USD/CHF was incapable of sustaining a rally, resulting in a sharp fall from a resistance at 0.9639/69 down to a support at 0.9555/31, which is in turn considered to be strong enough to oppose the current bearish momentum. Moreover, it is reinforced by 0.9503/0.9497, decreasing probability of the price extending the dip and changing long-term outlook.
USD/JPY gravitates towards 79.36/12 and is yet unable to leave its vicinity despite the overall bullish outlook and signals of technical indicators. Delay in resumption of a rally raises concerns whether the pair will be able to remain within the upward channel. Supports are located at 78.63, 78.16 and 77.63/54, in case 79.36/12 is eroded and bulls take the lead
Following a false bearish breakout of a downward sloping trendline at 1.5557, GBP/USD has recovered and is now about to retest a resistance zone at 1.5638/67. Subsequent level may be encountered at 1.5719/44, although given its toughness the currency couple is likely to consolidate near it before recommencing bullish advancement.
EUR/USD has strongly bounced off a support area at 1.2456/16 and has already tested an interim resistance located at 1.2566/99. An initial attempt to penetrate it, however, proved to be unsuccessful, as the currency pair faces a lot of formidable levels, which are unlikely to allow the price to reverse the trend, only to make a short-term bullish correction.
EUR/JPY is trading with bearish mood as the EU summit has not delivered any concrete plans to address the debt turmoil. If an upbeat trend emerges, then 101.58 (55-day SMA) is likely to be the first target to be tested by bullish investors. If this level is successful pierced, a path towards 102.15 (R1 Weekly; Upper Bollinger band) and 104.55/65 (100-day SMA; R3 Weekly) will
Bulls gain confidence on AUD/USD as the pair is floating near the initial resistance level at 1.0118 (61.80% Fibo). If the pair manages to pierce and hold this level, investors could expect the pair to edge higher Resistance 2 and Resistance 3 at 1.0179 (R1 Weekly) and 1.0215/20 (100-day SMA; R1 Monthly), respectively.
The US dollar is trading slightly higher compared to yesterday against the Canadian dollar. As the pair failed to breach the 1.0241, USD/CAD is likely to move higher and 1.0323 (R1 Weekly) is going to be an initial resistance in case of such event. If the bullish momentum intensifies, 1.0375/90 (Upper Bollinger band; R2 Weekly) and 1.0464 (R3 Weekly; Upper resistance level) are going to be
NZD inched higher today, approaching the 0.7970 level (200-day SMA). If bullish inertia to continue, 0.8082 (Upper Bollinger band) might become the second resistance for bullish investors. A breakout of this level would expose the third resistance at 0.8148 (R3 Weekly).
USD/CHF has bounced off 0.9639/59 and is presently heading towards an initial support at 0.9553/31, which, in conjunction with a tough area at 0.9503/0.9497, should prevent the currency pair from falling and dipping as low as 0.9417 or 0.9448/46. The long-term outlook for the price remains positive, as monthly indicators point out.