Despite the resistance at 0.90 that stopped strong advancement of USD/CHF in May, USD/CHF managed to rally above this level yesterday.
The U.S. Dollar continues to strengthen against the Yen and is about to touch one of the main resistances that lie overhead.
As long as the support at 1.7054/19 remains intact, there is a good chance the bullish momentum of the Cable is going to be restored and the rate will eventually rise up to 1.74.
Regardless of the bullish indicators on a monthly time-frame, EUR/USD has finally closed beneath the major level at 1.35, meaning the currency pair has now confirmed its long-term bearish intentions.
The Kiwi's bears still have not found a way how to break the support levels (monthly PP, 55 and 100-day SMA and weekly S1) slightly below the current trading levels.
The U.S. Dollar still lacks bullish momentum; therefore, the pair is stuck slightly below the weekly and monthly PPs at 1.0748/60.
It seems that the monthly PP at 0.9368 was too significant obstacle to surpass.
The Euro started the trading with a opening above the 137 level, but during the day it lost some of its strength and slid below the major level.
At the moment USD/CHF is standing still below the monthly R1 and the resistance line at 0.90.
USD/JPY is currently moving away from its key support.
The resistance at 1.74 remains a viable target, given the signals of the monthly technical indicators (four are bullish and four are neutral).
A rally after a test of 1.35 turned out to be quite shallow, as the currency pair was sold of as soon as it approached the monthly S1 and up-trend line.
After last week's losses the pair has started slow, at the moment it is attacking the major level at 0.87.
The Greenback is struggling to breach the monthly PP at 1.0760, but the pair is supported by long term trend line which proved its strength at the beginning of month.
Today the Aussie tested the major level at 0.94; however, it was unable to break this level.
The pair continues to trade around the major level at 137. This level together with the down-trend line around 136.75 has been the main support levels that held the pair back from falling lower.
USD/CHF made a good attempt to break the resistance at 0.90 on Friday, but in the end it was unable to advance further.
Abundance of various resistances between 101.50 and 102.50 is not letting USD/JPY to regain its bullish momentum.
There are less and less arguments in favour of a rally.
Last week, despite the pair breaching a long-term down-trend, the bulls successfully defended the key level at 1.35, thus prodding EUR/USD to return to the monthly S1.
A release of U.S. consumer sentiment report drove the Euro away from 1.3491, the lowest point since January. University of Michigan stated that CSI (Consumer Sentiment Index) dipped to 81.3 during a month. EUR/USD rose to 1.3513 and is likely to be supported at 1.3478, while the resistance is reckoned to be at 1.3540. Meanwhile, the Euro settled at 0.7918
This week turned out to be distinctly bearish for NZD/USD—nearly two figures have been lost since Monday.
Being that recently USD/CAD has confirmed the 21-month up-trend support line, there is a good chance the nearby resistances are not going to hold the pair down for long.
This month AUD/USD has already retreated more than 150 pips from 0.95 (2014 high). But an extension of a decline seems unlikely.