Although an attempt to overcome the monthly S1 resulted in a strong sell-off, the decline seems to have been stopped by the support at 0.8936/29.
The pair managed to find sufficient support at 103.74/72 yesterday and it has already closed above the monthly R1.
GBP/USD failed to settle above the resistance at 1.6348/43 yesterday and is thereby looking in the direction of the support at 1.6204/1.6199.
As expected, the resistance at 1.3711/1.3695 is keeping the bulls at bay and is likely to prevent further appreciation of the Euro.
Pair seems to be somewhat range bound, like it was in the end of the last week.
Pair showed initial bullishness, but failed at 1.065 which lead to a dip below 1.06.
Pairs seems to be fully pledged to the recovery as it continues to show bullish signals after the weekend.
Although the pair fails to gain pace, it continues to demonstrate willingness to inch up higher.
Being unable to pierce through the resistance implied by the monthly S1 last week, USD/CHF returned back to 0.8943/29.
USD/JPY has gained a solid foothold above the May high and is therefore set to advance further.
After a 70-pip decline the Cable is attempting to gather strength and challenge the January high once again.
Following a massive sell-off after a test of 1.3784 the currency pair is undergoing a shallow bullish correction that should not extend far beyond the resistance at 1.3711/1.3689.
Pair continues to slowly trail lower after a major sell off a few days ago.
Pair has taken a step back after peaking above the 1.072 few days ago and today.
Pair has reached the lowest level this year a few days ago and seems to be recovering now.
Pair has formed a new yearly high a few days ago and seems no to be relinquishing the bullish attitude.
USD/CHF is currently trying to pass though the resistance implied by the monthly S1 and appears to be likely to succeed.
At first USD/JPY hesitated to rise above a combination of the weekly and monthly R1 levels, but now there are less than 80 pips to go until yet another important milestone, namely the 2008 January low.
Although GBP/USD has recently made a good attempt to settle above the January high, right now the currency pair stays capped by the resistance at 1.6439/1.6390, being unable to move any higher.
EUR/USD continues to move lower while being pushed by the strong selling pressure that emerged after a test of the major down-trend line at 1.3831/00.
Pair seemed range bound for some time, but has branched the lower limit of it yesterday and continue to trail lower today.
Pair received a substantial bullish impetus after peaking above the weekly PP yesterday and is testing 1.07 at the moment.
Pair continued to trail lower and has reached new, 2013, low at 0.8822 yesterday.
Pair is demonstrating bullish intentions and has peaked to a new, 2013, high yesterday.