Following a flat movement of USD/CHF just above 0.9066 in the coming days, bullish momentum is expected to be reignited, shifting attention to a resistance at 0.9317/42. Within the next three months the pair might even attain 0.9595.
The currency couple continues to be contained by a resistance downtrend, which is about to be eroded. As a result, levels at 83.31/39 and 84.19 will be targeted. In the meantime, losses of the price should be limited by supports at 80.75 and 80.29.
GBP/USD is viewed as incapable of overcoming a tough resistance located at 1.6167, challenge of which should result in a dip to 1.5984. Nonetheless, the unlikely possibility of the Cable rallying up to 1.6199 may not be ruled out yet.
EUR/JPY is currently consolidating near 106.33/105.95, before it undertakes an additional attempt to break above 107.48. Breach of subsequent resistance at 108.00 will encourage the pair to reach out for 108.62.
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.