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The euro rose against the US dollar and finished the week at 1.1662, above the weekly R3 located at 1.1643. The next target is set at 1.1715, which is reinforced by the 2015 high. On the downside, the 20-day SMA at 1.1581 is the first rationale figure seen in the daily chart, followed by the 55-day SMA at 1.1497. The daily RSI at 74.7 is overstretched and given the recent congestion on the upside, some consolidation seems likely early next week.
Sterling is the only major currency to have lost ground to the dollar this week. It poked at 1.3125 and finished the week at 1.2993. June’s CPI figures shaved expectations towards an interest rate rise as early as in H1 of 2018 and despite retail sales rebound, the sentiment has not shifted till the end of the week. The GBP/USD is squeezed between the upper daily Bollinger band at 1.3099 and the 20-day SMA at 1.2956.
The US dollar fell against the yen and closed the weekly session at 111.12. The exchange almost pierced the upper daily Bollinger band on July 11 at 114.45 and since then reversed polarity, moving towards the opposite Bollinger band boundary, now located at 111.12. And the previous mentioned move has been accomplished within a 10-day period. Losses are likely to be reversed next week, though the exchange rate will now face strong resistance at a cluster around 111.60/90, which is reinforced by both the 55-day (111.86) and the 100-day SMA (111.68).
Despite euro’s outperformance against the US dollar, its performance against the yen was soft. 128.55 was the low recorded in the week ending, which is nearly 100 pips lower than the weekly session close price, at 129.59. The euro reached a high for the year against the yen near 130.75. New highs for the week were made at 130.50 where it has stalled. The exchange rate closed below 130 and seems targeting levels below the 128 mark, where the lower daily Bollinger band is located at (127.53).
The aussie outperformed the US dollar skyrocketing till 0.7990. Two major fundamentals propelled this move, RBA’s meeting minutes which sounded more optimistic about the economy outlook and better than expected labour market data. The exchange rate closed the weekly session above the 0.79 level (at 0.7912) and the trend remains intact. The upper daily Bollinger band rests at 0.7993 and on the downside, the first rationale figures seen in the daily chart is the 20-day SMA at 0.7728, a bit far from recent price action. The lower daily Bollinger band at 0.7426 is not visited since May 10.
The loonie prolonged its gains against the US dollar for another week and accounting with a 4-streak of weekly gains. The lower daily Bollinger band rests at 1.2446, at a band which is also reinforced by last year’s low. The exchange rate will likely test the aforementioned level in the week ahead, though as it represents a support stronghold, a rebound seems suitable also reinforced by the daily RSI at 21.3. A break below that level would target the 1.20 area.
The kiwi rose against the US dollar matching aussie’s outperformance. The exchange rate closed at 0.7452, nearly 20 pips above the upper daily Bollinger band located at 0.7435. Last year’s high at 0.7485 will likely offer tougher resistance next week, while on the downside the 20-day SMA at 0.7318 is a bit far from recent price action. To note is that the exchange rate is also piercing the upper Bollinger band on the weekly chart.
Sterling is the only major currency to have lost ground to the dollar this week. It poked at 1.3125 and finished the week at 1.2993. June’s CPI figures shaved expectations towards an interest rate rise as early as in H1 of 2018 and despite retail sales rebound, the sentiment has not shifted till the end of the week. The GBP/USD is squeezed between the upper daily Bollinger band at 1.3099 and the 20-day SMA at 1.2956.
The US dollar fell against the yen and closed the weekly session at 111.12. The exchange almost pierced the upper daily Bollinger band on July 11 at 114.45 and since then reversed polarity, moving towards the opposite Bollinger band boundary, now located at 111.12. And the previous mentioned move has been accomplished within a 10-day period. Losses are likely to be reversed next week, though the exchange rate will now face strong resistance at a cluster around 111.60/90, which is reinforced by both the 55-day (111.86) and the 100-day SMA (111.68).
Despite euro’s outperformance against the US dollar, its performance against the yen was soft. 128.55 was the low recorded in the week ending, which is nearly 100 pips lower than the weekly session close price, at 129.59. The euro reached a high for the year against the yen near 130.75. New highs for the week were made at 130.50 where it has stalled. The exchange rate closed below 130 and seems targeting levels below the 128 mark, where the lower daily Bollinger band is located at (127.53).
The aussie outperformed the US dollar skyrocketing till 0.7990. Two major fundamentals propelled this move, RBA’s meeting minutes which sounded more optimistic about the economy outlook and better than expected labour market data. The exchange rate closed the weekly session above the 0.79 level (at 0.7912) and the trend remains intact. The upper daily Bollinger band rests at 0.7993 and on the downside, the first rationale figures seen in the daily chart is the 20-day SMA at 0.7728, a bit far from recent price action. The lower daily Bollinger band at 0.7426 is not visited since May 10.
The loonie prolonged its gains against the US dollar for another week and accounting with a 4-streak of weekly gains. The lower daily Bollinger band rests at 1.2446, at a band which is also reinforced by last year’s low. The exchange rate will likely test the aforementioned level in the week ahead, though as it represents a support stronghold, a rebound seems suitable also reinforced by the daily RSI at 21.3. A break below that level would target the 1.20 area.
The kiwi rose against the US dollar matching aussie’s outperformance. The exchange rate closed at 0.7452, nearly 20 pips above the upper daily Bollinger band located at 0.7435. Last year’s high at 0.7485 will likely offer tougher resistance next week, while on the downside the 20-day SMA at 0.7318 is a bit far from recent price action. To note is that the exchange rate is also piercing the upper Bollinger band on the weekly chart.
