GBP/USD is currently trying to accomplish what it was not able to do earlier this week—fill a massive hole that appeared after the weekend.
EUR/USD stayed close to 1.29, missing the opportunity to make a correction up to 1.30, where it would have met the monthly S1 and weekly PP.
Today NZD/USD touched the down-trend support line around 0.8209, thus the pair is clearly targeting the major level at 0.82.
After reaching the major level at 1.10 the pair seems to be stabilising its positions around this level.
The Australian Dollar just cannot recover, as the currency continues to fall against the U.S. counterpart. The pair touched even the monthly S3 today; however, it reversed some of the losses.
EUR/JPY continues its advance as the pair approached the weekly and monthly R1 at 137.74/97 today. These resistance levels together with the psychological level at 138 will be a serious challenge.
While earlier this week it seemed that the weekly R1 did not pose a threat to the rally from 0.93, in the end the bears at 0.9370 forced the currency pair to retreat back to the monthly R2.
Just as in many its other crosses, the U.S. Dollar took a break from appreciating here as well.
The Sterling stopped declining at 1.61, a demand zone mainly implied by the monthly S3.
After a quick dip beneath 1.29, EUR/USD once again returned above the monthly S2.
The Kiwi continues to slide lower, as of today it has approached the weekly and monthly S1 at 0.8265/60 and it seems that it has to forget about reaching the 0.93 level in the near term.
Today is bringing new challenges for the U.S. Dollar with the major level at 1.10 ahead, after the yesterday's jump, when the pair approached the monthly R1 at 1.0980.
The Australian Dollar has plummeted below the August low at 0.9239; however, it still trades above the 200-day SMA at 0.9227, after yesterday's retreat below the 0.93 level.
The Europe's common currency is challenging the weekly and monthly PPs at 136.78/85.
Although initially there were concerns regarding the ability of USD/CHF to stay above 0.93, in the end the market proved to respect the newly established support represented by the monthly R2.
As it turned out, USD/JPY did not have to pull back to the 2014 Q2 low, the accelerated up-trend and monthly R1 at 105 was more than enough to send the pair above the first quarter high.
Although the downside gap after the weekend called for a bullish correction to 1.63, the bears did not loosen the grip and forced the Pound to give up even more ground.
Instead of taking a break from a sell-off and returning to the monthly S1 at 1.30 for a bit, EUR/USD pushed through the support at 1.29.
The NZD/USD currency cross is still bearish and it is trading below the 0.83 level, even though the pair managed to climb above the 0.83 mark at the end of the last week.
The currency pair breached the 1.09 mark today, after fluctuating between the 1.08 and 1.09 levels through most of time last week.
AUD/USD performed considerably well last week, as the Australian currency managed to reach the major level at 0.94.
Last week the Europe's shared currency declined towards the 136 level; although, this week has started with a opening above this level, around July low at 136.37.
The currency pair has confirmed the monthly R2 at 0.93 as a support level after breaching it to the upside. USD/CHF should now look for a contact with the 2013 Sep high at 0.9450, regardless of the monthly indicators.
For now the bulls seem to be unable to overcome the resistance at 105, even though the technical studies are in favour of a rally on all relevant time-frames.