At the moment USD/CHF is struggling at 0.9210/04, as both the 20 and 55-day SMAs were violated yesterday, impugning the ability of the greenback to gain value any time soon.
After only a sole bearish daily candle USD/JPY has recommenced growth that should not meet any strong resistances until 92.27, the most probable point of contact with the upper edge of the bullish channel, apart from it being a weekly R1.
GBP/USD does not seize to exert considerable pressure on a combination of an already former support at 1.5756/59 and a current one at 1.5715, despite the demand zone the pair is currently facing.
It did not take long for the bulls to once again regain control of the price's formation, ending a short-lived period of consolidation at a high of 2012.
After a decline from 0.8491/76 there is still some distance between the spot price and the major up-trend support at 0.8265/61.
"Given that it hasn't been able to break above C$1.01, we have seen some sellers come in and maybe position for a bit of a grind back towards parity."- Bank of Montreal (based on Bloomberg)Pair's OutlookToday the currency pair has fully closed the bullish gap and is thus set to resume advancement. A support line at 1.0056/49 together with 1.0027
The 100-day SMA has once again, just like at the very end of 2012, prevented development of a dip.
An initial resistance at 123.29, being a 33-month high, remains intact for now.
USD/CHF pair experiences bearish sentiments during the last few weeks and has already reached the 20-day SMA.
USD/JPY pair has made a bearish correction yesterday, as the price has reached the 423% Fibonacci level at 90.92 and the Bollinger line.
The Cable exhibits significant bearish sentiments, as the price depreciates without any corrections.
The major currency pair gradually depreciates from a 2012's high, but bearish sentiments still are very weak and don't demonstrate any correction momentum.
After being range bound for 3 trading weeks pair receiver a bearish impetus from 0.835 and for the second time today is testing the strength of monthly pivot PP at 0.8304.
Pair started the week humbly, but, as predicted, is testing the resistance of 1.01.
Pair is up for volatile week as its todays trading area is 45 pip wide , but there is no clear directional impulse.
Pair started the week with an attempt to step up above 122.75, however, unsuccessfully.
Signals provided by the technical indicators are mixed and the outlook on the pair is neutral, since the down-trend resistance line has been breached two weeks ago.
USD/JPY has commenced a bearish correction after hitting the up-trend resistance line.
The currency pair is reluctantly approaching a major support area, the upper part of which is formed by the monthly S3 in conjunction with a support line at 1.5750 that not so long ago proved to be of great importance to the market participants, especially during the period from May till August last year.
EUR/USD has just touched upon a 2012 year high at 1.3485, but until now there is no strong bearish reaction, implying noteworthy bullish potential the pair still retains.
During the last three trading weeks the pair has been trading sideways, in a range between 0.845 and 0.835.
A 180-pip rally in three days puts the pair significantly above the parity condition. Although such a surge could have been anticipated, it was expected to take place closer to the mid/end of January.
After a 100-pip dip yesterday the pair found support at a cluster of support levels at 1.0439/27, with most of the effect mainly provided by the monthly PP and a Bollinger band.
After trading sideways for a week or so, the pair received a strong bullish impetus from the 118.0/117.5 area and at the moment is hovering above a 122 yen mark, testing the Bollinger band.