It seems that the pair is still preparing the ground for the breakthrough and it still is trading around the lower boundary of the pattern that formed on July.
After yesterday's dip to the lowest level (0.8481) this year this far, AUD/USD rebounded mildly and now is attacking the weekly S1 at 0.8562.
The weekly PP at 146.65 has proved to be stronger then initially anticipated as the pair has been supported by the level for third consecutive day.
After a decline below the weekly pivot point at 0.9645, the USD/CHF pair made an attempt to return back above this resistance level.
It seems that the USD/JPY currency pair decided to start moving away from the 118 major level, around which it hovered for past five days.
Similar to the EUR/USD cross, the Cable reflected the yesterday's weakness of the US dollar and moved to the north.
On Wednesday, the EUR/USD currency pair gained value for a third day in a row, as the single currency reached the weekly R1 at 1.2532.
Apparently, the 0.78 level was too hard to beat for the pair's bears for now; however, it still remains their target and beating it would not be too unrealistic.
The USD/CAD cross is fluctuating around the monthly PP at 1.1242 for the fourth straight day, as the pair has not found the necessary bullishness to climb higher.
AUD/USD continue to set new lows this year, as of today the pair even dived beneath the major level at 0.85 for a moment.
The 18-nation currency has not changed much against the Japanese Yen in the last two trading days.
The 2014 high at 0.9714 has eventually made the USD/CHF currency pair to lose value.
For the fifth consecutive day the USD/JPY cross has been hovering around 118, which is holding the pair from going in any direction.
It seems that for the time being a resistance at 1.5724, represented by the weekly R1 is too strong for GBP/USD's bulls to cross it.
The EUR/USD's short-term upward trend, which started two days ago, continued on Tuesday, as the shared currency gained more value and crossed the weekly pivot point at 1.2444.
The New Zealand Dollar is losing its positions against the US peer, as of today the pair dropped below the monthly PP and later even below the weekly S1 at 0.7807.
The US Dollar stays supported by the up-trend's support line that is around 1.1242; moreover, the USD/CAD cross is hovering around the weekly PP and March high at 1.1265/80.
AUD/USD pair has slumped below the lowest level this year, after the bulls failed to hold the Aussie above the 0.86 mark.
The Euro/Yen cross has failed to consolidate above the 147 mark and now it is trading near the weekly PP at 146.56.
Since USD/CHF has just closed the bullish gap by falling to the support at 0.9650, it may attempt to launch yet another attack on the resistance at 0.9740.
The currency pair is forming a base at 118 at the moment, which is likely to act as a significant support in the future.
GBP/USD remains range-bound, with the ceiling and the floor represented by 1.57 and 1.56, respectively.
As it turned out, the bears were not ready to break the defence at 1.2360 yesterday, and EUR/USD went up by 60 pips as a result.
Even though the pair gained in the last two days of the previous week, it failed to consolidate above the 0.79 level.