After piercing thкough the monthly pivot point the Cable confirmed 1.4389/80 as the new support.
EUR/USD booked some moderate gains throughout the session on Tuesday, but it was repeatedly contained by the two-month downtrend line at 1.0940.
Although it might be too early to make a conclusion, but USD/CAD appears to have bounced off of the rising trend-line at 1.3950, meaning the current target is the weekly pivot point at 1.4082.
Just like EUR/JPY, the Aussie is headed towards the major resistance trend-line (lower boundary of the broken triangle), which is highly unlikely to let the recovery from 0.6830 to extend beyond 0.7160/40.
NZD/USD trades within a correctional bullish channel after falling sharply during the Dec 29-Jan 14 period.
EUR/JPY preserves strong bullish momentum, gaining every single day since Jan 20.
The most significant moving average line on a 200-day time frame was touched in early November last time.
While a cluster of numerous studies, including the 100-day moving average and a long-term trend-line, proved to be unable to resist the latest rally, the 200-day SMA successfully weathered increased demand for the Dollar.
The Cable keeps balancing between gains and losses, being unable to start a new trend.
The single currency is holding to the gains that it has registered over the first trading day of a new working week.
Last Friday the US Dollar weakened for the fourth consecutive time against the Canadian Dollar.
In wake of mixed fundamental data results last Friday, the Australian currency ended the day relatively unchanged against its US counterpart.
Like most major pairs at the end of the previous week, the NZD/USD closed trade relatively unchanged.
Due to an unexpected monetary policy decision made by the BoJ, the EUR/JPY cross soared towards the 100-day SMA, but stabilised only at 131.18.
Two formidable technical areas are highly likely to put both upside and downside pressure on gold at the same time.
The USD/JPY currency pair's rally, triggered by the BoJ's decision, was only prevented by the 200-day SMA circa 121.46 last Friday.
The British currency experienced another slump last Friday, reaching a daily low of 1.4150, but stabilising at 1.4246.
EUR/USD moved in a wide trading range on Friday, following relatively unsurprising US GDP data.
After topping out at C$1.46 USD/CAD returned back to the support level implied by the 2004 high.
AUD/USD managed to test the 55– and 100-day moving averages today, but quickly retreated afterwards.
The New Zealand Dollar keeps consolidating, as it appears to have insufficient strength to break through the 0.64 level.
Despite the bearishness of the weekly and monthly technical indicators the Euro keeps gaining more and more ground against the Yen.
Thursday saw gold prices depreciating on the back of increasing risk appetite across the board.
Because of BoJ's unexpected announcement USD/JPY covered the distance between the yesterday's close and 120.50 yen a lot sooner than estimated.