It seems that pair has got in to cycle were every trading week is started with few bearish candles which are recovered in few upcoming days.
After a major comeback from monthly S1 at 1.557 pair dipped once again, this time from weekly S1 at 1.567 and at the moment is trading outside the Bollinger band which is the first resistance level at 1.554.
Pair failed to consolidate at the higher part of the Bollinger band as yesterday it was rejected by 20-day SMA and at the moment is hovering below the monthly PP at 1.3408.
Our previous estimations proved to be correct, as the currency pair has risen above the former resistance at 0.8388/73.
A re-test of 1.0087/71 has triggered a sell-off that was in turn stopped at 1.0004/02, where the current bearish correction should come to an end.
A second attempt to push through 1.0243/30 was also unsuccessful, resulting in a 100-pip rally to the nearest resistance level at 1.0343/36 that is containing bulls, but with certain difficulties.
EUR/JPY did not post two consecutive days of gains, being rejected by 126.45, but is still well-positioned to maintain the upward course.
GBP/USD pair made a deep spike down, as the price touched the monthly S1 level at 1.5568 and immediately retreated back to the Bollinger bands area.
Even though yesterday's movement looked very bullish and determined to overcome the 100-day SMA, at the end of the day the price dipped beneath the 100-day and 20-day SMAs and currently is fluctuating in a free area just beneath them.
After an outstanding beginning of the week and a new high, the pair gradually retreats lower.
Yesterday EUR/USD continued to appreciate and stepped notably up.
A re-test of 0.8306/0.8275 did not occur yesterday, allowing the currency pair to continue climbing higher.
The currency pair proved to be lacking upward impetus, as an interim resistance at 1.0071 capped the price, preventing a test of 1.0107/1.0092.
Bears have regained the control over the price by continuously supplying the Aussie and thereby forcing it to give up former positions.
Once the currency pair has recommenced a recovery, the daily technical indicators turned bullish, even though the signals are moderate for now.
Seems that USD/CHF pair has finally settled above the 20-day and 55-day SMAs and is ready to move in an upside direction.
USD/JPY pair demonstrates limitless bullish sentiments, as the price sharply increased yesterday and reached even a new high at 94.36.
The Cable started the week with a sharp bearish impetus, as the price slipped from the 20-day SMA and almost reached the lower Bollinger line at 1.5619.
As the major currency pair easily slipped through the 20-day SMA, it found support at 1.3350 level, where no technical indicators are located.
The currency pair lingers at the rising support line, having insufficient upward momentum in orders to successively penetrate resistances at 0.8356/54 and 0.8382/73 and thereby pave the way towards 0.8499/49.
USD/CAD carries on stepping higher due to the absence of any strong resistances.
The rally AUD/USD commenced last week has encountered a strong resistance zone at 1.0343/36, which did not allow for a rise up to the 200-day SMA that in turn is standing near 1.0387 at the moment.
The support at 123.29/13 has held the selling pressure and prevented a protracted drop of a price, preserving the potential of the Euro to appreciate further.
For the past 3 session pair has been testing weekly PP at 0.918 which is not giving up.