After a slow start, pair is picking up the pace and at the moment is testing the strength of 20-day SMA at 1.026.
As anticipated, cluster of levels around 1.04 prevented the pair from advancing further.
Pair continued to appreciate with the possible intention to return to last weeks closing levels, but did not manage to advance above 124 and for the time being is being supported by 20 and 55 day SMAs.
Pair opened below 55-day SMA and it took a bit of a time to breach it, but once it did pairs advanced was rather quick and after appreciating by more than 50 pips today it is trying to return to week end levels and at the moment is testing the strength of the cluster of resistance levels around 1.04.
After a bearish drop to the 20-day SMA last week, the price found strong bullish sentiments and started to regain lost positions.
After news from Cyprus investors reduced their risk exposure and purchased "safe haven" assets.
The British Pound faced very low volatility during a trading session on Monday, as the price fluctuated only in a 70 pips range.
EUR/USD continues to appreciate and moves towards the upper part of the gap.
Similar to the most of the other major pairs, NZD/USD started the week 50 pips below the last weeks closing price.
Pair opened above the last weeks closing level and had the intention to advance even further, but dipped almost 50 pips to 1.02.
Pair started the week way lower than ended the last one, but is slowly picking up and at the moment is trading at the 20 and 55 day SMAs.
Last two trading sessions of the previous week were strongly bearish, as the price dropped from a four-month high at 0.9513 to the 20-day SMA at 0.9421, falling below it for a brief moment.
The Japanese Yen remains under bullish pressure, as the price has been depreciating for a second straight week.
GBP/USD finally settled in the upper part of the Bollinger band, as the pair rallied above the 20-day SMA, located at 1.5054, retested it and closed the session with a positive performance on Friday.
EUR/USD pair's sentiments changed radically over the weekend, as today the pair opened with a huge gap and was traded near the lower Bollinger band at 1.2891.
Bullish sentiments flared up yesterday after the pair bounced to the lower Bollinger band at 0.8164 and they continue to lead the kiwi.
The loonie continues to depreciate, as the price slipped through the 20-day SMA at 1.0258 yesterday and entered the lower part of the Bollinger bands.
The Australian Dollar sharply appreciated yesterday, as the price exceeded the upper Bollinger band by 40 pips and reached the 200-day SMA for a moment.
Consolidation in EUR/JPY continues further, as today the price failed to breach a 125.00 benchmark.
USD/CHF pair's movement is restrained by a four-month high at 0.9513 and the monthly R1 at 0.9488.
USD/JPY has been fluctuating in a narrow channel created by the monthly R2 at 96.36 and the weekly PP at 95.22 for almost a week.
The Cable demonstrates strong bullish sentiments by increasing from the monthly S1 at 1.4866 to the weekly R1 at 1.5110 in three trading sessions.
After a drop to the 200-day SMA at 1.2958, the major currency pair recovered bullish sentiments.
Yesterday the kiwi dropped heavily, slipping beneath the 200-day SMA at 0.8238 and closed the trading session just above the lower Bollinger band at 0.8163.