USD/CHF took a break ahead of the weekly R2 and Bollinger band, but there should be no difficulties for the pair to reach the 2014 peak at 0.9156, as suggested by the daily and weekly studies.
It look a little longer than initially expected, but the upward momentum is finally gaining traction.
There is now little hope for the bulls, being that GBP/USD has broken most of its main supports.
EUR/USD continues to grind lower, and it does not seem we are going to observe a pronounced bullish correction before the pair reaches the 2013 Q4 low at 1.33.
Even though for the most of the time the pair is trading below the 0.85 mark it still is supported by the 200-day SMA and weekly S1 0.8492/89.
The U.S. Dollar has appreciated above the 1.09 mark for the first time since early July, proving its current strength.
AUD/USD is hovering around the 0.93 level, it seems that the Aussie's decline is halted by the major level, weekly S2 and monthly S1 at 0.93/0.9291.
At the moment the Euro is challenging the weekly R2 at 137.76, after breaking the monthly S1 at 137.59.
Yesterday's test of the monthly R2 did not result in a rally above 0.91, but there is still a good chance the bulls are going to play the main role.
Though the last few months there were serious doubts regarding USD/JPY's ability to break this year's down-trend, right now the currency pair is already trading 100 pips above it.
There still seems to be a small chance for the Sterling to avoid further depreciation, as it is currently facing a number of strong supports.
Despite the strong downward momentum the support at 1.3383/69 managed to withstand the attack of the bears yesterday.
Today has not been any different from the last couple of trading weeks with the Kiwi depreciating relative to the U.S. peer.
The U.S. currency continues to outperform the Canadian counterpart, the pair surpassed the 100-day SMA at 1.0854 and later also the monthly R1 at 1.0873 today.
The Australian currency prolonged its yesterday's decline by falling below the weekly S1 and 100-day SMA at 0.9350.
The Euro zone's currency performed well today as it reached the 20-day SMA at 137.36.
Although at some point everything appeared to be over for the bulls, USD/JPY proved to be able to rally by breaking the 100-day SMA and seven-month down-trend.
Monday looked like a start of a bearish correction, but in the end USD/CHF did not even have to retreat to the weekly PP to regain its upward momentum.
The U.S. Dollar is strengthening, and there are less and less chances that GBP/USD will realise the bullish potential implied by the weekly and monthly technical studies.
As expected, the Euro carried on losing its positions, though it did not break any significant levels yesterday.
NZD/USD bears are challenging the monthly S1 at 0.8513, this is the biggest obstacle that they have been facing since breaking the major level at 0.86.
The Greenback's positions above the 1.08 seems rather stable, at the moment the pair is appreciating towards the weekly R1 and 100-day SMA at 1.0852/55.
For most of the time the pair is fluctuating above the 0.94 level; however, it seems that the pair is poised for a slide towards the monthly PP at 0.9369.
Since the middle of July the pair has not successfully stabilised its positions above the 137 mark; however, at the moment it is testing this level once again.