Today is bringing new challenges for the U.S. Dollar with the major level at 1.10 ahead, after the yesterday's jump, when the pair approached the monthly R1 at 1.0980.
The Australian Dollar has plummeted below the August low at 0.9239; however, it still trades above the 200-day SMA at 0.9227, after yesterday's retreat below the 0.93 level.
The Europe's common currency is challenging the weekly and monthly PPs at 136.78/85.
Although initially there were concerns regarding the ability of USD/CHF to stay above 0.93, in the end the market proved to respect the newly established support represented by the monthly R2.
As it turned out, USD/JPY did not have to pull back to the 2014 Q2 low, the accelerated up-trend and monthly R1 at 105 was more than enough to send the pair above the first quarter high.
Although the downside gap after the weekend called for a bullish correction to 1.63, the bears did not loosen the grip and forced the Pound to give up even more ground.
Instead of taking a break from a sell-off and returning to the monthly S1 at 1.30 for a bit, EUR/USD pushed through the support at 1.29.
The NZD/USD currency cross is still bearish and it is trading below the 0.83 level, even though the pair managed to climb above the 0.83 mark at the end of the last week.
The currency pair breached the 1.09 mark today, after fluctuating between the 1.08 and 1.09 levels through most of time last week.
AUD/USD performed considerably well last week, as the Australian currency managed to reach the major level at 0.94.
Last week the Europe's shared currency declined towards the 136 level; although, this week has started with a opening above this level, around July low at 136.37.
The currency pair has confirmed the monthly R2 at 0.93 as a support level after breaching it to the upside. USD/CHF should now look for a contact with the 2013 Sep high at 0.9450, regardless of the monthly indicators.
For now the bulls seem to be unable to overcome the resistance at 105, even though the technical studies are in favour of a rally on all relevant time-frames.
The Cable started this week beneath the 2014 low (1.6250), as result of a 150-pip large downside gap.
There is likely to be a deeper correction than the one seen on Friday after a massive sell-off on Sep 4.
NZD/USD has lost some of its value this week; however, not significantly. At the moment of writing, the pair is hovering around the weekly S1 at 0.8308.
Even though the pair has fluctuated in a relatively wide range through this week at the moment it is trading almost at the same level were it opened on Sunday.
On Tuesday the Australian currency found a reliable support level (weekly S1) at 0.9277 and from this point onwards the pair started to climb towards the 0.94 mark.
After posting gains at the beginning of the week the pair has dropped for a second straight day and even touched the major level at 136, while this week's high was set at 138.28.
USD/CHF disregarded the ‘sell' signals on the monthly chart and soared through a dense supply area at 0.9250, which was mainly created by the 2013 Q4 high and monthly R1.
USD/JPY continues to advance, and it has already managed to post new yearly highs.
Strong Dollar does not allow the Pound to commence a recovery, which is implied by the monthly technical indicators.
As a rhetoric of the ECB turned out to be more dovish than expected, EUR/USD plummeted more than 200 pips yesterday.
The New Zealand's currency is starting to recover from the Tuesday's decline, as the currency pair is moving closer to the weekly PP at 0.8358.