USD/JPY seems to have already overcome intermediate weakness and is ready to challenge the resistance at 104.92/80.
The January high manages to keep the rate away from lower supports, such as the one at 1.6336/19, formed by the weekly and monthly S1 levels.
Two moving averages, namely the ones for 55 and 100 days, continue to underpin the currency pair, postponing a likely decline in the longer perspective.
As noted previously, the latest recovery of AUD/USD was characterised by a lack of bullish momentum.
While the support at 143.25/142.91 has recently failed to halt the decline, the weekly S1 at 141.34 succeeded at preventing a deeper retracement.
NZD/USD has already reached the initial target at 0.83 after the break-out from the descending triangle and is poised for even more gains in the future.
USD/CAD used 1.0650/38 as a springboard and soared up to the dense supply zone at 1.0721/01.
Following a sharp 180-pip rally the resistance zone represented by the 100-day SMA initiated some profit-taking.
Considering the U.S. Dollar has been consistently moving north for the past two months, a small correction such as the current dip should not invalidate the bullish outlook despite a breach of the up-trend.
The Cable spiked below the January high and touched upon the support at 1.6336/19, which helped the Sterling to stay buoyant for the time being.
Even though EUR/USD gained an impressive bearish momentum last week, the support area created by the 55 and 100-day SMAs managed to trigger short-squeezing yesterday.
Pair took a step back after a major rally on Friday and seems to be struggling with 83 cent mark today.
No major changes in the pair's behaviour is observed today or expected any time soon.
Pair continues to demonstrate bullishness, but seems to be struggling with major level at 90 cents.
Pair extended it's losses further, but found support at the weekly R1 today and returned above the 142 JPY mark.
Being unable to penetrate the falling trend-line that creates strong demand area around the monthly S1 level, USD/CHF pushed through the 2012 February low and the down-trend resistance line.
USD/JPY is risking to breach the up-trend support line that has been underpinning the latest two-month rally.
Although at first it seemed that 1.6397/90 will be able to stop further depreciation of the British Pound, the price remains strongly bearish.
EUR/USD continues to move farther and farther away from the major down-trend resistance line. At the moment the currency pair is eroding a combination of the 55 and 100-day simple moving averages.
It seems that the pair's dip to 0.815 and following recovery has given a strong bullish impetus which pushed the pair through 82 cent mark.
Pair seems to be consolidating around 1.06 after peaking to a new, year 2013, high a few weeks ago.
Pair extended the recovery after receiving a bullish impetus from the 2013 low yesterday and is testing 90 cent mark today.
Pair extended it's losses further after failure around 145 JPY yesterday.
While the resistance at 0.8945/29 gave up in an instant, the down-trend line in conjunction with the February high and the 55-day SMA keeps the bulls at bay for the time being.