Due to fundamental factors, the GBP/USD currency pair dropped significantly on Wednesday down to the 2014 low at 1.5874, but was able to return back and close near the 1.60 major level at the end of the day.
The single European currency managed to breach a considerable support line, represented by October low at 1.25, but bounced back in the beginning of Thursday.
The Kiwi dropped to the lowest level this year at 0.7688, after reaching the weekly PP at 0.7841. Moreover, there is still high possibility of the pair sliding even lower towards new lows.
The USD/CAD cross is not losing its bullish momentum for a bit as the value of the Greenback continuous to grow rather significantly.
The Australian Dollar has reached a new low this year at 0.8592; however, it seems that the pair could fall even lower until today's close.
EUR/JPY has prolonged its advance to five straight days and it seems that today easily could be the sixth consecutive one.
"The polling on minimum wage is very clear: It is something that three quarters of the country supports."- American Enterprise Institute (based on CNBC)Pair's OutlookUSD/CHF came under increased bearish pressure on Monday; however, pair's decline was over due to toughness of the support at 0.9582. At the moment the pair is ready to recover in order to reach the 2014
"There's no change to our policy of trying to achieve 2 percent inflation at the earliest date possible, with a roughly two-year time horizon in mind."- Bank of Japan Governor (based on Reuters)Pair's OutlookAs predicted both by daily and weekly technical studies, the USD/JPY currency pair continues to gain value. However, the cross is nearing a considerable resistance around 114.70,
"Investors have locked in a Republican majority in the Senate and House. The question is how dominant is that going to be."- BMO Capiral Markets (based on CNBC)Pair's OutlookIt seems that resistance around 1.6031 used to be strong enough to calm down the bullish pressure, as the British currency declined below the major level at 1.60. The next significant support
"The inflation that has infected asset prices is not to be ignored just because the middle-class spending bucket is not rising in price at the same rates as high-end real estate, stocks, bonds, art and other things that benefit from quantitative easing."- Elliott Management Corp. (based on Bloomberg)Pair's OutlookThe currency pair experienced little changes during past 24 hours, as the
By the end of the yesterday's trading session the Kiwi fell to the lowest level this year at 0.7698.
This year's high has been breached even sooner than anticipated previously, as USD/CAD has approached the 1.14 level.
The Aussie was very close from setting a new low this year today as it traded just 4 pips away form the lowest level at 0.8643.
After reaching the highest level since April at 142.56 a day earlier, the Europe's shared currency has lost its very bullish steam.
USD/CHF is already starting to feel the selling pressure, as it has just touched this year's high at 0.97.
USD/JPY refused to fill the gap and kept on gaining ground, as was suggested by the near-term technical indicators.
Since GBP/USD has already closed the bearish gap and the pair is fluctuating near the resistance at 1.6040, the Sterling is unlikely to add to the gains from 1.5950.
The demand at 1.25 continues to underpin the pair, meaning we should not rule out a rally emerging from here.
NZD/USD trades very near this year's low at 0.7708 that was set at the end of September.
The US Dollar is looking forward to extend its advance against the Canadian peer as it is attacking the major level at 1.13.
The 18-nation currency continues to outperform the Japanese Yen rather heavily as the pair has reached more than a six month high today at 142.30 by the time of writing.
The AUD/USD cross has opened approximately 50 pips below Friday's closing price and in the recent hours it has moved very close to the weekly S1 at 0.8695.
USD/CHF has finally returned to this year's main resistance, which in turn is the key to 2013's high at 0.9840.
Since USD/JPY opened this week with an upside gap, there is likely to be a correction at least to 112, from where the pair will be expected to resume the rally.