Unlike the former support at 1.3290, a combination of the weekly S1 and a May high at 1.3247/42 prevented further depreciation of the common currency.
NZD/USD did not manage to extend its dip, rebounding from the support created by the monthly and weekly PP.
The resistance at 1.0395/76, in the form of the monthly PP, weekly R1 and 55-day SMA on the chart, took away from the bullish momentum, forcing the currency pair to return to the weekly PP.
Guided by the 55-day SMA, AUD/USD is grinding lower, but at the moment is struggling with the monthly PP at 0.9064 which is still intact.
Although we initially were expecting the 55 and 100-day SMAs to contain the rally initiated at 127.86, the currency pair seems to preserve the upward inertia and is advancing further.
USD/CHF is moving en route to a formidable resistance area at an accelerated pace, effortlessly piercing through the near-term levels.
The downside risk did not materialise and the currency couple maintains its course north, towards the nearest resistance at 98.40/05.
Yesterday the pair demonstrated propensity to rise. Even though the body of the previous bar is small and indicates that the Sterling depreciated, there is a long spike to the upside.
Although the currency pair was well-positioned yesterday for a rally, neither the up-trend nor the 20-day SMA provided sufficient support to realise short-term bullish scenario.
NZD/USD is slowly trimming last week's gains after an unsuccessful attempt to breach the 100-day SMA at 0.8046.
Despite existence of risks that USD/CAD might fall through the support at 1.0303/1.0285, the currency pair managed to stay afloat.
For now AUD/USD preserves buoyancy with the help of a formidable support area formed by the various studies, such as monthly and weekly pivots, 20-day SMA and 38.2% Fibonacci retracement of the 2008 Oct—2011 Jul move.
Regardless of a slightly more bearish than bullish sentiment among the daily technical indicators, the Euro carries getting stronger due to the fundamental factors.
Apparently, USD/CHF is not willing to descend beneath the round level of 0.92, meaning that the focus is presently on the nearest resistances.
The 200-day SMA preserved the bullish outlook on the pair by sending it beyond the resistance line at 97.00/96.96.
As noted previously, the Cable is currently undergoing a correction that follows a sharp rally.
Yesterday the currency pair reached the lower boundary of the bullish channel it has been trading within for the past 30 days.
For the time being the 100-day SMA is keeping the spot price beneath, implying that the New Zealand Dollar will not appreciate any more.
The levels that proved to be important in already distant years of 2009 and 2010, are still playing a significant role in shaping the chart.
Unlike most of the previous resistances that were encountered since the start of the recovery from a trough at 0.8847, the 55-day SMA, together with the monthly R1, seems to have managed to prevent further advancement of AUD/USD, even though the currency pair preserves the potential to go higher, up to 0.93.
Last week a rebound from the monthly S1 was capped by the resistance at 129.89/21 that consists of the 55 and 100-day SMAs.
Pair started the week in a mild bullish fashion and at the moment is testing weekly PP.
Pair has been trailing lower for the past 30 days. At the moment it seems stable, however downside risk persists.
Pair seems to have stabilized after skyrocketing last week and at the moment is trading slightly above the 200-day SMA around 1.455.