The U.S. Dollar continues to be the better performer relative to its Canadian peer as it reached the weekly R1 at 1.0768 today.
By approaching the weekly S1 and 100-day SMA at 0.9330/28 the currency pair prolonged its yesterday's decline; although, it managed to inch up closer to the monthly PP at 0.9369.
The pair's bears have pushed the Euro below the weekly PP and major level at 138.07/00.
Although USD/CHF has been experiencing difficulties lately, in the end it managed to decouple from the monthly PP and 200-day SMA at 0.8928/16 and commence a recovery.
Although we were inclined to believe that the supply at 101.64/54 is going to stop the pair, the U.S. Dollar carries on strengthening relative to the Yen.
As soon as the price dropped down to the 2009 high, the bulls became active and subsequently pushed the Cable through some of the nearest resistances.
As suspected, EUR/USD failed to cross the resistance represented by the monthly PP, down-trend and 55-day SMA.
At the moment the pair is slowly sliding lower; although, it is still hovering slightly above the major level at 0.88.
The U.S. Dollar continues to trade above the 1.07 level; however, it has not managed to gain momentum after jumping on Friday.
The Australian Dollar seems stuck between the monthly and weekly PPs at 0.9369/95.
Today the pair slipped below the 138 mark, but later recovered, after breaking the weekly PP at 138.07 day earlier.
USD/CHF made an attempt to break the 200-day SMA yesterday, but the losses were quickly erased after the pair touched the weekly S1.
The U.S. Dollar has just returned to the upward-sloping line it has recently broken.
The Cable is coming off the recent highs, seeking support that could help restore the lost bullish momentum.
EUR/USD continues to trade beneath the resistance at 1.3643/23, represented by 55-day SMA, monthly PP and two-month down-trend.
NZD/USD was trading very close to its record high (0.8845) last week and at the beginning of this week it still remains near this level.
After Friday's major advance the pair is trading steadily around the 2013 high at 1.0738.
It seems that the market participants are waiting for something more substantial to happen to start trading the pair; therefore, the pair's value is little changed.
Last week the pair fell below the major level at 138; however, its decline was halted by June high and the monthly S1 at 137.71/59.
Although USD/CHF is currently trading above the monthly pivot point and 200-day SMA, we would rather look at the 100-day SMA as the support, since the former is no longer reliable.
The currency pair seems to have received a strong bullish impetus after touching the horizontal support at 101 last week.
Starting from the beginning of the quarter GBP/USD has been staying inactive, even though there are more ‘buy' signals than the ‘sell' ones.
Since the daily and weekly technical indicators are mostly bearish, the immediate resistance, namely the 55-day SMA and monthly PP at 1.3630/09, should be safe.
Once again the Kiwi has been a strong performer this week, the pair was just 7 pips away from the pair's record high at 0.8845 on Thursday.