The Cable has confirmed a resistance at 1.5727 and should now move to a downtrend line at 1.5563/57, which, in turn, should halt bearish momentum.
The currency pair has bounced off a confluence of resistances at 109.20/25 and is likely to slide down for the rest of tha day. However, a support area at 108.47/27 (55 and 100 hour ma) should contain dips.
EUR/USD continues to trade below an accelerated downtrend and is forming a falling wedge on a 1-hour chart. In the nearest future it is expected to bounce off a support at 1.3033/23 and advance towards 1.3107/32.
In the nearest future the US Dollar is expected to carry on appreciating relative to the Swiss Franc. As a result, USD/CHF is likely to move northwards. The initial goal is at 0.9317, while a subsequent target lies at 0.9595.
USD/JPY breaking through a resistance at 82.83 reinforces the view that the currency couple is aiming for 83.80 in the longer term. Supports are located at 82.23, 81.87 and 81.15, though a key level is at 80.94.
Even though GBP/USD has rallied from a support at 1.5650/43, the bias for the Cable remains bearish, due to a tough resistance area situated at 1.5752/1.5833. Additional supports may be found at 1.5599, 1.5581 and 1.5500.
An uptrend line at 106.89 should contain short-term dips, while the overall outlook for EUR/JPY is positive. After overcoming 108.75 the currency pair is anticipated to target 109.32/58 (55 week ma) next.
EUR/USD is currently headed towards 1.3055, which is unlikely to be able to negate bearish momentum. Therefore the next levels in focus are expected to be 1.2974/54 and 1.22624. From above the pair is capped by resistances located at 1.3192/1.3291 and 1.3487.
Strong bullish impetus of the currency pair has been stopped by a strong resistance located at 0.9237/41, turning daily bias to neutral. Now the price should target support at 0.9140/29.
Daily maximum: 82.85Daily minimum: 81.96After USD/JPY rebounded from an uptrend at 82.10, the US Dollar continued to appreciate relative to the Japanese Yen and is expected to do so for the time being.Daily Resistance: 82.75; 82.90/98.Daily Support: 82.56; 82.38/15; 81.92/90.Daily Bias: Bullish.
Bearish momentum of the Cable has weakened, allowing the pair to bounce off a support at 1.5603/5583. However, the current rally is likely to be tepid and halt near a tough resistance located at 1.5742/56.
EUR/JPY has been fluctuating within the levels of 108.65 and 108.25/10 intraday. Nonetheless, in days to come the pair should breach the immediade resistance and continue advancing.
EUR/USD has changed its direction before encountering a support at 1.3046/41 and is now headed towards a resistance located at 1.3132/40, which should be able to contain near-term rallies.
For the time being levels at 0.8931 and 0.9066 should provide sufficient support for USD/CHF, which in turn should commence rallying. On the way towards 0.9595 the pair will encounter resistances at 0.9241, 0.9317 and 0.9407.
USD/JPY is likely to carry on advancing, as it is being supported by though levels at 81.87, 81.15 and 80.90. After attaining an initial goal at 83.80, the pair is anticipated to move in the direction of 85.53 and 86.80.
The Cable is now facing a formidable support level situated at 1.5650/43. However, after a temporary rebound the latter level is expected to be penetrated, giving the possibility for GBP/USD to fall down to 1.5235.
A strong support at 106.63 should contain short-term dips, while the overall bias is bullish for the currency couple. Despite a recent failure of EUR/JPY to get a foothold above 108.75, the pair should retarget this level and eventually overcome it.
As long as EUR/USD remains capped by resistances located at 1.3217/91 and 1.3487, the outlook is negative for the currency pair. Even though support at 1.3084 (55 day ma) has held until now, it is likely to give in and allow for losses to extend down to 1.2974/54 first, then 1.2624.
USD/CHF Monday slid modestly towards the support level at 0.9106; technical indicators suggest the pair is likely to recover in the short-term.
USD/JPY declined for a second day, after rising sharply by 87 peeps on Friday.
The British pound fell against the US dollar, heading towars a support level at 1.5551.
EUR/JPY slipped slightly today, breaching the daily pivot point at 108.18.
The single currency depreciated today versus the greenback after the Greece completed the biggest sovereign debt restructuring in history.
USD/CHF currency couple is currently gaining bullish momentum, as it is being supported by strong levels at 0.9088/66 and 0.8931. The initial target lies at 0.9246 (55 day ma), which guards 0.9317.