Despite strong downward momentum the Cable exhibited last Friday, its attempt to break the support at 1.5976/60, represented by the monthly S1 and a lower Bollinger band, did not succeed.
The currency pair has found a strong support zone near 1.25 and retreated back to the negatively-sloped trend-line at 1.2660, which has been keeping the bearish tendency intact for the past two months.
The NZD/USD cross has been on a down-trend lately and last week was not a exception; however, the pair managed to gain for two days out of five.
The U.S. Dollar has depreciated towards the weekly PP at 1.1202, after USD/CAD traded just 9 pips shy of this year's high on Friday.
Even though it seemed that the Aussie might recover against the Greenback at the beginning of the last week that did not happen, as the pair declined on Friday.
The Europe's shared currency touched the major level at 137, after dropping below the 138 mark last week.
Although the trading range of USD/CHF has recently narrowed, while the Greenback has been appreciating, which usually portends a reversal (as a rising wedge), the fundamentals favoured the U.S. currency and it jumped higher.
The U.S. Dollar is poised for even more gains against the Yen—the technical indicators on the daily and weekly time-frames are bullish and the pair has recently bottomed out at 108.
The currency pair effortlessly pierced through this year's low last Friday and found support only at the monthly S1.
EUR/USD remains heavy and keeps sinking deeper.
NZD/USD fluctuated in the range from 0.77 to 0.79 this week and at the week's end it has dropped below the 0.78 mark.
The USD/CAD cross has managed to climb even higher, despite already high trading levels, on the significant performance of the U.S. Dollar.
Until today the pair performed well, the Aussie even touched the 0.88 mark and started to show some bullish signs.
The Europe's currency has underperformed against the Japanese Yen through this week and currently it is supported by the weekly S2 and Bollinger Bands at 137.26/23.
Considering that the resistance at 0.96 withstood the buying pressure, there is an increased likelihood of USD/CHF retreating to 0.9450.
USD/JPY had to come all the way back to 108 in order to revive the bullish activity.
Although GBP/USD initially found support at 1.6162 (weekly S1), the currency pair stopped 50 pips short of reaching the supply area near 1.63 and turned around.
Despite the potentially game-changing events that transpired yesterday, EUR/USD did not react to the fundamental news and did not violate any of the important levels.
The New Zealand Dollar has continued to reverse some of the previous losses against the U.S. counterpart; moreover, the pair formed a attack towards the major level at 0.79.
The U.S. Dollar reached the weekly and monthly PPs at 1.1088/83 today, which are located just slightly below the major level; however, the pair has recovered since then.
The pair's bulls have managed to push the pair towards the major level and weekly PP at 0.8800/05, after almost reaching this year's high yesterday.
Today the Euro has prolonged its decline against the Japanese Yen, after the pair dropped below the weekly S1, 55 and 100-day SMA at 137.97/79.
USD/CHF keeps standing close to the resistance at 0.9586/78.
As it turned out, USD/JPY did not have to touch the 2008 high in order to come under strong selling pressure.