For the fifth consecutive day the USD/JPY cross has been hovering around 118, which is holding the pair from going in any direction.
It seems that for the time being a resistance at 1.5724, represented by the weekly R1 is too strong for GBP/USD's bulls to cross it.
The EUR/USD's short-term upward trend, which started two days ago, continued on Tuesday, as the shared currency gained more value and crossed the weekly pivot point at 1.2444.
The New Zealand Dollar is losing its positions against the US peer, as of today the pair dropped below the monthly PP and later even below the weekly S1 at 0.7807.
The US Dollar stays supported by the up-trend's support line that is around 1.1242; moreover, the USD/CAD cross is hovering around the weekly PP and March high at 1.1265/80.
AUD/USD pair has slumped below the lowest level this year, after the bulls failed to hold the Aussie above the 0.86 mark.
The Euro/Yen cross has failed to consolidate above the 147 mark and now it is trading near the weekly PP at 146.56.
Since USD/CHF has just closed the bullish gap by falling to the support at 0.9650, it may attempt to launch yet another attack on the resistance at 0.9740.
The currency pair is forming a base at 118 at the moment, which is likely to act as a significant support in the future.
GBP/USD remains range-bound, with the ceiling and the floor represented by 1.57 and 1.56, respectively.
As it turned out, the bears were not ready to break the defence at 1.2360 yesterday, and EUR/USD went up by 60 pips as a result.
Even though the pair gained in the last two days of the previous week, it failed to consolidate above the 0.79 level.
After a weekly decline posted, the USD/CAD cross has slightly appreciated today and it remains strongly supported by the monthly PP and up-trend support line at 1.1242.
The Aussie has slid today, after the rebound on Friday, when the pair breached the 0.87 level for the moment.
The Euro started the week by reversing some of Friday's losses against the Japanese Yen, when the pair dropped more than 200 pips.
Having established a solid support at 0.9550, USD/CHF surged up to 0.9750, where the monthly R1 merges with this year's highest trading level.
USD/JPY is currently taking a break after a precipitous rally commenced in mid-October.
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.