Yesterday the price slipped beneath the 55-day SMA at 1.0160 and settled in the lower part.
EUR/JPY is under a bearish pressure for a second week, as the price depreciates from the interception level of 20-day and 55-day SMAs at 123.12.
The Aussie sets the third big gain this week, as the price appreciates towards the Bollinger band at 1.0509.
Yesterday's 100-pip dip, a move a little short of reaching 92.23/09, is currently being pared.
Recent bearish price action has been threatening wholeness of the bullish trend-line, but the fears did not materialise.
Weekly technical indicators seem to have given a correct forecast, as the Sterling is being heavily sold off from 1.5233, the lowest price level in 2012 and at the same time a formidable resistance line that has been denying attempts of GBP/USD to recover for more than a month.
As soon as the pair approached the falling resistance line, it came under strong selling pressure that drove the price away, proving that it is not yet ready for a change of the current downward course.
Pair received a major bullish impetus from 0.840 and appreciated 50 pips already and was stopped only by Bollinger band at 0.845.
Although further depreciation of the pair did not come as a surprise, but a 30 peep dip was a bit unexpected.
After almost a week long erosion pair received a bullish impetus from technical levels around 1.04, but for the time being failed to breach weekly R1 and is trading slightly below it at 1.045.
Pair attempted to prolong its losses, but did not manage to do so after receiving support from the cluster of technicals levels at around 119.
Correction in USD/JPY drags on and has already resulted in the 55-day SMA being eroded.
The currency pair has again cut into a strong resistance, refusing to gain bearish momentum following a collision with a support level at 1.4829.
After bouncing off the 200-day SMA and falling as low as 1.2750, the currency pair has returned back to the declining resistance line that has been safeguarding the down-trend since February, when the price reached a mark of 1.3710.
Regardless of the pair's failure to advance yesterday, the outlook on USD/CHF stays positive. In case of a dip the initial support should be found at 0.9478/67.
USD/CAD is cautiously crawling upwards after an encounter with the 55-day SMA.
A support level at 0.8368 has a low chance of withstanding downward pressure and thus may expose 0.8339/37, where the 55 and 100-day SMAs lie along with the weekly S1.
Despite proximity of the moving averages AUD/USD is refusing to gain bullish momentum, absence of which has led to a breach of the accelerated up-trend support recently.
After a temporary lull EUR/JPY has slipped and is now falling en route to the 100-day SMA at 119.36, which is also reinforced by the weekly S1 and a lower Bollinger band.
From the very beginning of this week the currency pair is demonstrating attraction towards 1.2704/1.2688, although there is a Bollinger band at 1.2737 in the way at the moment.
Even though the Cable is constantly failing to leave vicinity of 1.5221, its outlook is perceived as bearish, especially if we consider weekly perspective, for which technical are giving ‘sell' signals.
Being unable to prove its bullishness and advance beyond 94.47/24, the currency pair is being sold off.
USD/CHF is slowly but surely approaching a local high at 0.9566, which has recently triggered a bearish correction that lasted until 0.9350 was reached.
Despite presently observed dearth of liquidity, the U.S. Dollar is outpacing its Canadian counterpart.