It seems that the downtrend in USD/CAD has stalled as the 200-day SMA was reached last Thursday.
After Aussie's nine straight day advance that ended last Friday the pair has depreciated slightly and currently the pair is trading around the weekly PP at 0.9387.
Last week we saw a significant drop in EUR/JPY currency pair; moreover, the Euro fell to the lowest level against the Yen in four months at 137.71 today.
Despite USD/CHF having difficulties at the beginning of June the outlook on the pair is bullish, as it has confirmed the 200-day SMA as the support and there are no significant resistance overhead.
Despite being right next to the major rising trend-line USD/JPY is failing to commence a robust recovery, thereby calling into question U.S. Dollar's ability to outperform the Yen.
After touching a strong demand area at 1.6743 last week, formed by the 100-day SMA and long-term up-trend, GBP/USD managed to break some of the monthly pivot points and reach the 2009 highs.
The pair stays indecisive, as it is currently trading flat just above the support represented by the monthly S1 and 2014 low at 1.3481/75.
This week the Kiwi reminded about the fact that it has been the best performing currency this year as it reached the monthly R1 at 0.8699.
The greenback has depreciated against the Loonie this week, breaking the monthly PP at 1.0888. It seems the 200-day SMA has stopped this week's decline around 1.0860.
It seems that today could end the nine straight day bullish run for the Aussie, which yesterday breached the monthly R1 at 0.9410.
This week the Euro fell more than 200 pips; however, it seems it managed to recover as it received a bullish impetus from the weekly S3 at 137.72.
The bullish momentum of USD/CHF remains fairly weak, as it was unable to push the pair through the weekly R1.
In order for the bullish momentum to stay intact, USD/JPY should remain above the support at 101.86, represented by the rising trend-line and monthly pivot point.
Relative tranquility of GBP/USD was interrupted by Mark Carney, who substantially increased attractiveness of the Pound by his comments
EUR/USD turned around after approaching 1.35, and it is now moving towards the weekly PP and 20-day SMA at 1.3609.
Even though the Aussie slid below the weekly R1 today it managed to recover the losses and to trade around the major level at 0.94.
At the moment it seems that the U.S. Dollar is supported by the 200-day SMA and the semi-major level at 1.0855/50.
The Kiwi remains strong, after yesterday's 80 pips advance it did not lose momentum and kept appreciating as the weekly R2 was breached at 0.8637 today.
The Euro repeatedly fell below the major level at 138; although, it bounced back to trade slightly above this level.
Even though USD/CHF is only facing the weekly R1 and Bollinger band, the rate remains hesitant to extend its rally.
A demand area between 102.23 and 102.05, mainly formed by the 100 and 200-day SMAs, proved to be insufficiently strong to turn USD/JPY around.
The British Pound remains sandwiched between the trend-line at 1.6813/1.6783 and the 100-day SMA at 1.6732/21, increasing the uncertainty regarding future of the currency.
The currency pair closed below the weekly S1, but seems to be already losing its downward momentum ahead of the main support at 1.3481/75.
The Kiwi is still bullish and it managed to break the 100-day SMA at 0.8539 today. Now it has more significant obstacle in front—weekly R1, monthly PP and 55-day SMA at 0.8569/84.