NZD/USD has slipped slightly through the last two trading days, after the pair reached the highest level in October on Wednesday.
As expected the pair was not able to sustain that high trading levels as we saw on Wednesday and Thursday; however, USD/CAD has still appreciated this week.
The Australian Dollar has little changed through the last two trading days, after the AUD/USD cross gained on Wednesday.
Just yesterday the pair set a new this year's low at 134.14; although, much has changed since then, as the pair has reversed all of its losses and hovers around the weekly PP at 136.40.
USD/CHF had to travel all the way to 0.9360 to find a significant support, which turned out to be the 55-day SMA and weekly S2.
While the 55-day SMA and 23.6% Fibo were unable to underpin the pair, a joint effort of the monthly S1 and 50% retracement kept the US Dollar from losing even more ground.
Since there were no significant resistances nearby, GBP/USD managed to extend the rally from 1.5850.
As expected, the supply at 1.2850 (23.6% Fibo) was sufficient to prevent further appreciation of the Euro.
The New Zealand's currency is searching for a sustainable support level and possibly it has found it at the 0.79 mark.
USD/CAD continues to trade around the higher levels this year, as it approached the monthly R1 and weekly R2 at 1.1345/57 today, unseen levels this year before yesterday.
After failure to surpass the 0.88 level yesterday, the AUD/USD currency pair has started to fall.
The EUR/JPY cross continues its slump, as the pair has plummeted below the major level at 135 today.
USD/CHF violated two important supports, meaning there is now nothing between the spot price and the 55-day SMA at 0.9350. But there might be even a deeper sell-off, down to 0.93.
Although USD/JPY was initially estimated to seize declining near a cluster of supports at 106.50 (38.2% Fibo and 55-day SMA), it is already testing the monthly S1 50 pips to the South.
Not to the same extent as the Euro, but the Sterling also notably benefitted from weakness in the Greenback.
Yesterday's fundamental events had a profound impact on the value of the US Dollar, forcing it to prolong the correction.
After a steady beginning of the week the Kiwi has picked up a bullish momentum, as the currency almost reached the psychological level at 0.80.
USD/CAD is continuing to appreciate even higher, after yesterday's jump above the 1.13 level.
The AUD/USD cross reached the 0.8850 level earlier today; however, now it has slipped below the December low at 0.8822.
The Euro is unable to surpass the major level at 136 thus far; however, it is attacking it.
EUR/JPY has been on a down-trend since the middle of September, when the pair failed to consolidate above the 141 mark. Since the pair could not find a bullish impetus it was forced to enter a downward trend. At the moment, the pair is challenging the upper trend-line of the pattern. At the same the 4H and daily technical indicators are
The EUR/AUD cross gained momentum, after reaching the lowest level in more than a year at 1.3799. Moreover, at this level the pair received a bullish impetus that helped to form a bullish channel. Currently, the pair is trading around the major level at 1.45, while the technical indicators are mixed. To our mind a bearish break-out is the most likely
Despite intensive selling the last few days the rising support line (Aug 17 and Sep 4 lows) remains intact.
There are signs USD/JPY has finally bottomed out at 106.60 after tumbling all the way from 110.