It appears that the Cable did not yet gain enough momentum to break out from the rising channel it has been trading within since the beginning of March.
Upward impetus the currency pair has received from the 200-day SMA was insufficient to throw EUR/USD over the weekly pivot point, instead we see a re-test of 1.3072/70, which is also a point of the rising support line.
After mild gains pair dropped by 70 pips and at the moment is trading below 0.85 (supported by 20-day SMA).
As most of other major pairs, greenback and loonie cross started the week passively as pair is staying in 30 pip range.
Pair started the week passively, but dipped by 80 pips after receiving a bearish impetus from 20-day SMA/weekly pivot (PP) earlier today.
Although pair is showing bearish intentions it is relatively passive in comparison to the last weeks moves and is fluctuating in the 70 pips range.
After a fierce battle between the bulls and bears last Friday, as indicated by the large spikes on the chart, USD/CHF is calmly moving en route to the 55-day SMA at 0.9405, a path towards which is unobstructed by notable resistances.
As expected, a dive below the support line did not signify a reversal of the major up-trend.
Arrival of the Cable at the rising resistance last week implied initiation of the sell-off that was meant to continue until the lower boundary of the channel up pattern would be reached.
A support area, formed by a combination of the 20 and 200-day SMAs, has successfully managed to repel bearish attack of the price and subsequently initiated a recovery.
NZD/USD sharply appreciates since yesterday, as the price was below the weekly PP level at 0.8472, but found bullish momentum and advanced towards the major resistance at 0.8534.
The loonie is not pampered with strong bullish sentiments, which could potentially support price's growth.
The Australian Dollar is considered as a proxy to risk-on sentiment; thus, after very positive labour data the Aussie pair sharply appreciates.
Today EUR/JPY appreciates from a 128.00 benchmark on the U.S. unemployment data, which indicated a positive improvement in the U.S. labour market.
A strong surge was stopped by the weekly pivot point and the 20-day SMA, and now the currency pair is headed towards some of the lower levels.
A similar situation to the current one was observed a month ago, when the price did slip below the up-trend support line, but has subsequently managed to return into the bullish channel.
GBP/USD has just reached the upper boundary of the channel up pattern. Consequently, the selling has set in and may continue for some time, being that there are no notable support levels nearby.
Yesterday's plunge has effortlessly penetrated some of the supports, including 1.3104; however, a combination of 20 and 200-day SMAs with weekly and monthly pivot points did not allow further depreciation of the single currency.
The kiwi depreciates for a second day after touching the weekly R1 level at 0.8587.
Seems that the weekly S2 level is more sustainable as it might be thought from the first sight.
The Australian Dollar is pressed by investors' concern that the global economy is slowing down, pushing traders to take the risk off position.
EUR/JPY pair is on an upside track, as the European Central Bank announced that the key interest rate is cut to a record low.
Since the FOMC did not deliver any concrete decision about the U.S. monetary policy yesterday, the pair takes a break at a random level at 0.9270, where no supports are located.
Even thought the major Asia's currency pair depreciates and has just settled beneath a long term support level at 97.81, USD/JPY bounced to the weekly S1 at 96.98.