EUR/JPY currency couple is heading toward 100.77 at the moment. In case this support is violated, the next target lies at 99.92. Rallies are expected to be capped by resistances located at 103.04, 104.73 and 105.72.
Bearish movement of EUR/USD seems to be decelerating while the pair is approaching a support level at 1.2860. However, this level is unlikely to provide sufficient support and therefore is expected to be eventually breached and pave the way to reaching 1.2089.
USD/CHF is showing a bullish bias after the US economy posted 0.2% Core CPI, indicating the US economy is gaining strength, though the daily target at 0.9432 has not been reached yet.
The American dollar inched today as investors were selling yens against USD after the US economy posted 0.2 Core CPI versus expected 0.1%. As a result, the daily target at 77.80 has been crossed.
The British pound continued trading in a flat trend today on uncertainty over the UK economy and the prospects of the Eurozone, causing the market mean at 1.5496 to breach.
The single European currency is trading within 101.-102 price range on further uncertainty with EZ, though level 101.32 - the daily forecast consensus – was not tested today after the Euro pared intraday losses on the ECB chief statement.
The daily forecast mean at 1.3009 has been touched, though the pair recovered its intraday losses after Mario Draghi, the ECB chairman, stated the euro zone is on the right track.
Currency pair's bearish movement seems to be decelerating while approaching 1.2860. Test of this support might result in a near-term rally, although the longer-term study suggests continuation of a downtrend, down to 1.2089.
While being capped by resistances at 102.49, 103.53 and 104.76 EUR/JPY is heading toward 100.77. In case the latter level does not hold the bearish pressure, current dip might extend down to 100.00. The initial support, however, is presently at 101.10.
Since a support located at 1.5415 has managed to repel GBP/USD's attack, the pair is likely to recover for now. To maintain its upward direction the price will have to overcome resistance at 1.5746. Dips are not expected to wander far below 1.5415.
While being supported by a number of closely situated lines, at 77.29, 77.26/12 and 76.22, the currency pair is unlikely to show any weakness for the time being. It is anticipated to focus on resistances instead. The immediate one is at 78.27/29, while subsequent levels may be found at 78.18, 78.66 and 79.10.
USD/CHF has rebounded from 0.9550 and now is likely to contract down to 0.9280 which should be able to reignite bullish momentum, while additional support will be provided by 0.9176. The long-term goal lies at 0.9776/84, ahead of 0.9950.
The market participants' target at 0.9510 has been touched as the US economy posted less-than-expected number of jobless benefits claims and Empire State Manufacturing Index rose 3 times than 3.1 estimate (9.5), pointing at the US economy getting stronger.
The market participants' mean at 78.04 has been broken through as more investors purchased the American dollar versus Japanese yen on less-than-forecast unemployment claims in the US (366K versus an estimate of 389K).
The British pound pared earlier weekly losses on hopes European economic recovery is keeping pace. As a result, the daily market participants' target at 1.5467 has been successfully tested.
The pair mildly recovered after the publication of strong macroeconomic EU data, showing investors still hope the economic recovery in Europe is not losing steam; therefore the daily forecast consensus at 101.39 has been pierced.
The common European currency recovered today after the publication of strong German Manufacturing and Services PMI data and improved Flash Services and Manufacturing PMI overall in Europe. The daily forecast mean at 1.2992 has been hit.
The interim goal for USD/CHF is at 0.9776/84, while the main target lies at 0.9950, since bullishness of the pair is supported by the majority of short- and mid-term indicators. Supports are positioned at 0.9400, 0.9331/17 and 0.9240.
The American Dollar - Japanese Yen currency couple approaches resistance zone at 78.22/66, which is likely to withstand the initial attack. Dips are expected to be limited by supports that may be found at 77.29, 77.24/12 and at 76.22.
GBP/USD is nearing a downtrend at 1.5415, which acts as a support at the moment. In case bearish impetus strengthens, subsequent line at 1.5272 might come into play. From above the pair is capped by resistances situated at 1.5747 and 1.5883/88.
EUR/JPY is presently heading to the initial target located at 100.77. Further aim will be set at 100.00, after the aforementioned level is violated. Rallies should be kept by tough resistances at 102.49, 103.53 and 104.81.
After penetrating supports at 1.3145 and 1.3000 EUR/USD currency pair maintains its bearish course toward 1.2860. Should the latter level be breached as well, the price might decline down to 1.2068.
Since a key resistance area has been overcome by USD/CHF, the pair is likely to surge further, up to subsequent levels at 0.9776/84, while longer term target is at 0.9950. Supports may be found at 0.9331/17 and 0.9240.
USD/JPY is bullish at the moment while approaching 78.28/30 which is not expected to halt upward movement of the pair. Further goals are situated at 78.66 and 80.12. The initial support is at 77.29, additional levels are at 77.11 and 76.22.