As expected, the 200-day SMA was unable to stop the currency pair from advancing forward, since recently it has lost its topicality.
The loonie cannot find any reasonable support level, as the price sharply depreciates towards the weekly S1 at 1.0111.
The Aussie starts a week by firmly appreciating towards a very strong resistance at 1.0349 area, where the 55-day SMA converges with the weekly R1 and the monthly PP.
The kiwi steps higher on Monday and continues last week's direction, as the price firmly appreciates from a 0.85 level to the monthly R2 at 0.8545.
Recent week's depreciation was stopped by the major support level at 127.73 today. The price slightly gains and moves towards an intersection point of the weekly PP level and the monthly R2 level.
It appears a correction that was triggered after an overextended rally at 0.9482/72 has come to an end, as the currency pair is currently underpinned by a combination of the weekly pivot point and 55-day SMA.
USD/JPY has touched upon the rising support trend-line at 97.81, which is also a 2009 August high.
Sharp advancement of the Cable from 1.5233 has been decelerating lately, since the price is approaching the upper boundary of the channel up, the likely point of contact with which will be at 1.5540/08.
EUR/USD continues to persistently erode resistances.
Despite the gained momentum 0.854 was impenetrable for the pair yesterday.
20-day SMA provided enough support yesterday, but didn't manage to do so today as pair lost additional 30 pips today.
Yesterdays peak above 1.03 did put market participants in to the buying spree as pair closed below the mentioned level.
As anticipated pair resumed its bearish trend after forming what seems as a second top in the double Top pattern.
USD/CHF is closing in on Mar 14 high at 0.9567 that has previously triggered almost a four-figure dip and is therefore a key to long-term bullish outlook; although the pair has already encountered difficulties at 0.9475/72, being unable to extend the rally above it.
An area below the spot price and until the 200-day SMA at 84.63 is littered with various supports, meaning that a path of least resistance is upwards, en route to the 2009 high at 101.44 that in fact poses a threat to the current bullish momentum.
The currency pair continues to demonstrate its resolve and unwillingness to submit to bears, leading to construction of a bullish set-up on a daily chart, namely a channel up pattern.
Yesterday EUR/USD has confirmed the zone that stretches from 1.3086 down to 1.3042 as resistance.
It seems that pair received enough of an impetus form 55 and 100-day SMAs, which it touched few days ago, to gain significant momentum.
Pair dipped by more than 50 pips today, but found support wit 20-day SMA and at the moment is hovering slightly below it.
Pair picked up pace and has peaked above 1.03 today.
A bit unexpectedly yesterday pair found support at the weekly and monthly pivots around 128.5 and has been fluctuating between 129 and 130 JPY today.
Despite the fact that the Bank of Japan announced a significant enhancement of the monetary easing programme recently, the pair struggles to overcome a 100 benchmark.
USD/CHF continued an upside movement yesterday, as the price stepped towards the monthly PP at 0.9473 and even executed an upside spike, touching the Bollinger band at 0.9485.
The Sterling appreciates further, as the market has expectations that the U.K. will reach a positive GDP growth in the first quarter and avoid additional monetary easing measures.