Daily Pivots: (S1) 159.41; (P) 159.64; (R1) 159.99; More… Intraday bias in USD/JPY remains neutral as range trading continues below 160.45. Further rise is expected with 157.49 cluster support (38.2% retracement of 152.25 to 160.45 at 157.31) intact. On the upside break of 160.45 will target a retest on 161.94 high. However, firm break of…
A billboard in Shanghai displays renminbi”s foreign exchange rates. China Daily The renminbi’s rising prominence in global foreign exchange options is not an isolated development, but part of a broader, accelerating expansion of the Chinese currency’s international role across investment, financing and commodity pricing, analysts said. According to the London-based clearing house LCH, the yuan…
EUR/CHF edged lower to 0.9159 last week but recovered just ahead of 0.9155 support. Outlook is unchanged and initial bias remains neutral this week for more consolidations below 0.9264. Further rally is expected with 0.9155 support intact. On the upside, firm break of 0.9264 will resume the rise from 0.8979 to 0.9394 resistance next. However,…
EUR/GBP’s extended decline last week suggests that rebound from 0.8610 has completed at 0.8740 already. But as a temporary low was formed at 0.8652, initial bias stays neutral this week first. On the downside, below 0.8652 will resume the fall from 0.8740 to retest 0.8610 support next. Nevertheless, firm break of 0.8685 support turned resistance…
EUR/JPY stayed in sideway trading last week and the development suggests that it’s merely in a near term consolidations. Initial bias remains neutral this week first. In case of another fall, downside should be contained by 38.2% retracement of 182.56 to 187.93 at 185.87 to bring rebound. On the upside, firm break of 187.93 will…
USD/CAD fell to as low as 1.3629 last week but recovered since then. Initial bias remains neutral this week first. On the downside, sustained trading below 61.8% retracement of 1.3480 to 1.3965 at 1.3665 will pave the way to retest 1.3480 low. Nevertheless, break of 1.3729 minor resistance will turn bias back to the upside…
USD/JPY extended consolidations below 160.45 last week and outlook is unchanged. Initial bias remains neutral this week. Further rise is expected with 157.49 cluster support (38.2% retracement of 152.25 to 160.45 at 157.31) intact. On the upside break of 160.45 will target a retest on 161.94 high. However, firm break of 157.31/49 will bring deeper…
USD/CHF turned into consolidations last week and recovered, but overall outlook is unchanged. Initial bias remains neutral this week first. On the downside sustained break of 61.8% retracement of 0.7603 to 0.8041 at 0.7770 will pave the way to retest 0.7603 low. However, break of 0.7933 resistance will bring stronger rise back to retest 0.8041…
EUR/USD’s gyrated lower last week but recovered ahead of 1.1662 support. Initial bias remains neutral this week first, and further rise is in favor. On the upside, sustained trading above 61.8% retracement of 1.2081 to 1.1408 at 1.1824 will pave the way to retest 1.2081 high. However, firm break of 1.1662 support will indicate the…
EUR/AUD’s fall from 1.6842 extended lower to 1.6340 last week. But a temporary low should be in place on loss of momentum. Initial bias is turned neutral this week first. Further decline is expected as long as 1.6497 support turned resistance holds. Below 1.6340 will target a retest on 1.6125 low. Nevertheless, firm break of…