Sharp advancement of the Cable from 1.5233 has been decelerating lately, since the price is approaching the upper boundary of the channel up, the likely point of contact with which will be at 1.5540/08.
EUR/USD continues to persistently erode resistances.
Despite the gained momentum 0.854 was impenetrable for the pair yesterday.
20-day SMA provided enough support yesterday, but didn't manage to do so today as pair lost additional 30 pips today.
Yesterdays peak above 1.03 did put market participants in to the buying spree as pair closed below the mentioned level.
As anticipated pair resumed its bearish trend after forming what seems as a second top in the double Top pattern.
USD/CHF is closing in on Mar 14 high at 0.9567 that has previously triggered almost a four-figure dip and is therefore a key to long-term bullish outlook; although the pair has already encountered difficulties at 0.9475/72, being unable to extend the rally above it.
An area below the spot price and until the 200-day SMA at 84.63 is littered with various supports, meaning that a path of least resistance is upwards, en route to the 2009 high at 101.44 that in fact poses a threat to the current bullish momentum.
The currency pair continues to demonstrate its resolve and unwillingness to submit to bears, leading to construction of a bullish set-up on a daily chart, namely a channel up pattern.
Yesterday EUR/USD has confirmed the zone that stretches from 1.3086 down to 1.3042 as resistance.
It seems that pair received enough of an impetus form 55 and 100-day SMAs, which it touched few days ago, to gain significant momentum.
Pair dipped by more than 50 pips today, but found support wit 20-day SMA and at the moment is hovering slightly below it.
Pair picked up pace and has peaked above 1.03 today.
A bit unexpectedly yesterday pair found support at the weekly and monthly pivots around 128.5 and has been fluctuating between 129 and 130 JPY today.
Despite the fact that the Bank of Japan announced a significant enhancement of the monetary easing programme recently, the pair struggles to overcome a 100 benchmark.
USD/CHF continued an upside movement yesterday, as the price stepped towards the monthly PP at 0.9473 and even executed an upside spike, touching the Bollinger band at 0.9485.
The Sterling appreciates further, as the market has expectations that the U.K. will reach a positive GDP growth in the first quarter and avoid additional monetary easing measures.
Even though negative economic data raised concerns of investors, the single European currency remains among the most preferable.
Pair dipped to 0.835 where 55 and 100-day SMAs have sent it almost 100 pips up as at the moment it is testing 0.845.
Lately it seems that greenback loonie cross has lost any drivers behind its movements as today it has been moving in even narrower range than yesterday, which does not exceed 20 pips.
After consecutive quite volatile, but overall bearish sessions, pair seems to be calming down as we are observing marginal gains.
Monthly 2 at 128.44 passed the test yesterday and sent the pair back above 129 JPY.
After negative data on Chinese manufacturing industry and investors' speculation on Europe's key interest rate cut, the major currency pair dropped from the 200-day SMA at 1.3055 to the weekly S1 level at 1.2972. EUR/USD easily overcame the 20-day and the 55-day SMAs.
USD/CHF accomplished a huge surge yesterday, as the pair firmly stepped from the 20-day SMA and overcame the weekly R1 at 0.9382 and the 55-day SMA at 0.9399, peaking at 0.9458.