NZD/USD gained slightly today, the pair appreciated above the 55-day SMA and it is trying to break the monthly PP at 0.8570, which has been the main driver this month.
Lately the pair has not offered much volatility, after the Aussie declined below the major level and weekly PP at 0.9300 on April 23.
Since the pair appreciated above the monthly PP at 141.70 it has continued to trade around this level; however, it has failed to extend its advance.
Since USD/CHF closed beneath the monthly PP and 55-day SMA, it was expected to extend the losses.
USD/JPY seems to have once again failed at 102.72/56 (monthly PP and 100-day SMA), thereby calling into question the currency pair's ability to recover in the long run.
The Cable remains unable to realise its bullish potential implied by the technical indicators because of the tough resistance at 1.6846/14.
As soon as EUR/USD approached 1.39, it was immediately sold off down to the support are around 1.38, which consists of the monthly PP and 55-day SMA.
Today NZD/USD has little changed, after yesterday the pair dived beneath the monthly PP at 08570.
After being supported by the 100-day SMA for almost two weeks the loonie has fallen below it.
AUD/USD remained relatively stable around 0.9250; despite its calmness the pair touched the Bollinger Bands and weekly S1 at 0.9229/23.
Encouraged by yesterday's advance the pair approached the weekly R2 at 142.40; however, when it was reached the pair bounced off to trade around the weekly R1 at 141.85.
There was only a brief rally yesterday during which USD/CHF closed a bearish gap—nothing critical was altered by this behaviour of the pair.
The strong upward impulse seen yesterday confirmed that USD/JPY still deserves a bullish outlook.
Despite the relatively elevated volatility observed yesterday (80-pip trading range) none of the key levels were broken.
As suspected, EUR/USD did move north, and it is already supposed to feel the pressure coming from the long-term down-trend resistance.
After trading above the monthly PP at 0.8570 from the beginning of the month the pair has finally slipped below this significant level.
It seems that the pair's further appreciation is largely dependant on the 100-day SMA and weekly PP at 1.1025/29.
Today the Aussie formed an attack to the weekly PP and major level at 0.9300; however, it bounced off to trade around 0.9275 again.
After last week's struggle to break the monthly PP at 141.70, Eurozone's currency has successfully breached it today and it is trading around the weekly R1 at 141.85.
After opening with a downside gap USD/CHF changed the direction and it is now moving back to the down-trend resistance.
USD/JPY failed to find support in the face of the weekly PP and 38.2% Fibo and fell last week.
Regardless of numerous attempts to rise, the Cable remains unable to cross the demand area created by the February high and monthly R1 at 1.6822/00.
Since the single European currency has already closed the bullish gap and the support consisting of the monthly PP and 55-day SMA is intact, there is still a chance for a rally.
This week the common currency has lost some ground against the Yen; moreover, today it slid beneath the 20 and 55-day SMAs.