The Cable keeps trading around its monthly S2 level, being limited by the resistance at 1.57 from the upside and the support at 1.56 from the downside.
Since EUR/USD confronted the falling resistance line last week and failed to violate it, the overall downward trend should remain intact.
Similarly to AUD/USD pair the Kiwi has reversed some of the weekly losses during the last two trading days; although, most likely it will be not enough to post weekly gain.
The current trading level is critical for the pair, since with today's drop it has reached the lower boundary of the bullish channel that formed at the beginning of July.
AUD/USD is likely to set a weekly loss, after appreciating last week; however, today the Aussie has partly reversed the previous losses.
The Euro continued to outperform the Japanese Yen heavily for the first four days of the week; however, today the pair has dropped and almost all of this week's gains have been reversed.
USD/CHF's bears failed to push the cross below 0.9550 for a second consecutive day, being that this demand area is supported by monthly PP, weekly S1, 55-day SMA and a Bollinger band.
The Japanese yen strengthened against the American dollar for the first time since Monday, as comments from Japan's Finance Minister pushed the USD/JPY cross down.
GBP/USD rose in value during last 24 hours; however, the pair refused to breach a resistance at 1.5733 and returned back below the 1.57 major level.
On Thursday the EUR/USD currency pair hovered in the range between major level at 1.25 and the closest resistance line, still represented by the weekly R1 at 1.2580.
The Kiwi's bulls are fighting back, as we are seeing some of the last week's bullishness, when November high at 0.7976 was set.
If the first three days of the week came as a gradual recovery after Friday's drop, then today has been a different story as the US Dollar slipped towards the 20-day SMA and weekly PP at 1.1324/19.
The Aussie has declined against the Greenback through this week, after the exceptionally good last week.
The Euro continues to outperform the Japanese Yen and today the pair reached a new six-year high at 149.15.
The bearish pressure continues to push the US dollar down versus the Swissie.
USD/JPY pair continued with its long-term bullish trend and increased further during last 24 hours.
After six consecutive days of decline, the GBP/USD pair managed to gain value and erase some of losses that occurred during this and the previous week.
Even though the shared currency managed to rise above the weekly resistance at 1.2580 on Wednesday, later the pair returned back to trade below this level.
Since NZD/USD failed to push through the supply at 0.7985 (monthly R1), the upside risks implied by the double bottom pattern are starting to fade.
Although the May high was not seen as a strong level, USD/CAD received a strong upward impetus after a test of 1.1280.
The Australian currency continues to sink, as it was unable to violate a falling resistance line earlier this week.
Having found solid support at 145, EUR/JPY closed above the 2013 high, implying more gains in the nearest future.
The Greenback did not succeed at overcoming the selling pressure yesterday, as a result of which the currency retreated back to 0.9550.
As it turned out, there was no need for a pronounced bearish correction in order for USD/JPY to re-challenge a major resistance at 117.