Due to a strong positive for the Aussie fundamental impact AUD/USD soared from yesterday’s close and is currently testing the supply area created by the August low, weekly PP and the 20-day SMA. If this zone gives in to the buying pressure, then the rally could extend up to the
EUR/JPY, being supported by the 55-day SMA and the monthly S1 level, remains on a bullish path and is about to breach the weekly PP at 141.47. If this is the case, the currency pair will most likely try to advance even further, up to the monthly pivot point at
On Tuesday Dollar/Yen decreased with almost 75 pips. The currency couple depreciated from 104.75 to 104.01 yesterday, matching the negative money flow sentiment at under -6%, closing the day at 104.21. This morning the Dollar weakened slightly further against the Yen, reaching 103.96, and stabilized.
No surprises from latest BOJ policy announcement. Governor Kuroda affirmed that the Central Bank will maintain current stimulus package, repeating all the bullish rhetoric that he has been saying before nominated/elected into the hot seat back in late 2012. Nonetheless, this non-event managed to quell some rumours about BOJ potentially
On Tuesday Pound/Dollar increased with almost 90 pips. The Cable appreciated from 1.6398 to 1.6487 yesterday, in line with the positive money flow sentiment at around +16%, closing the day at 1.6469. Today the British Pound lifted slightly higher to 1.6492.
As long as the resistance area at 1.3645/11 remains intact, the medium-term outlook for the currency pair will stay bearish. In the short run, however, there is a possibility of a bullish run up to the rising trend-line, but it is supposed to prevent extension of any rally and send