USD/CHF failed to rise for a seventh day in a row by giving up 10 pips yesterday, but this does not invalidate the bullish outlook on the pair.
Despite the amount and toughness of the obstacles USD/JPY is currently facing, the currency pair is successful at pushing through the resistances.
The Cable continues putting strong pressure on 1.6982/73, but for now the bulls stand their ground.
Right now this week appears to be quiet in terms of volatility, but this should change before the weekend. In any case, the currency pair is expected to be capped by 1.3530/00.
At the beginning of this trading week the Kiwi remains vulnerable, it seems that the pair is poised to reach the monthly S1 at 0.8513 and possibly the major level at 0.85.
USD/CAD continue to trade slightly above the 1.08 mark, after last Friday's jump.
The Aussie successfully rebounded above the 0.94 mark, after receiving a bullish impetus from the 20-day SMA at 0.9390.
The Europe's shared currency trades around the weekly PP at 136.79.
The Greenback carries on strengthening, and there are supposedly no significant hurdles until this year's high at 0.9156.
The currency pair is facing strong resistance at the moment, which it might turn out to be unable to break.
GBP/USD is currently trying to find support in the face of the monthly PP and 55-day SMA, but there is a high probability of the price falling even lower.
Although the Euro refused to decline for two days, in the end the bears managed to push the currency below the monthly S2 level.
This definitely has been one of the worst weeks for the pair in a while as it has lost almost 200 pips.
The pair started to attack the down-trend resistance line that has been intact since the beginning of March.
This currency pair approached the weekly R2 at 0.9460 earlier this week; however, at the moment it has dropped to trade slightly above the 0.94 mark.
EUR/JPY continues to trade between the monthly S2 at 136.46 and the weekly PP at 137.44 this week.
Although a breach of the resistance on Jun 30 represented by the 2009 high was considered to be a bullish sign, in the end the Sterling proved to be unable to sustain a rally.
For the time being the single European currency is reluctant to decline, even though it has just breached one of the key support lines, namely 1.35.
Not without some difficulties, but USD/JPY managed to reach the resistance at 101.83/73.
USD/CHF seems to be already taking a break in view of the coming weekend, as it is making no progress after setting foot above the resistance at 0.90.
The pair has plummeted below the cluster of support levels (monthly PP, 55 and 100-day SMAs), after struggling to do so for five straight trading days.
This week we have seen almost complete standstill in this currency pair.
It seems that the Aussie is starting to lose its allure; therefore, it has failed to surpass the weekly R2 at 0.9460 thus far.
Since the Euro received a bullish impetus from the monthly S2 and weekly S1 at 136.46/42 it is challenging the major level at 137.