After a precipitous decline EUR/USD now finds itself trapped between two strong levels.
The Kiwi is attacking the weekly PP at 0.8669 for a second straight day proving that it has not lost its bullish momentum.
The greenback is little changed against the Loonie and it trades around the major level at 1.09 as pair's volatility fell to the lowest level in more than two weeks.
At the moment the Aussie is trying to break the major level at 0.94; however, just above this level there is the next resistance level (weekly and monthly R1) at 0.9417/27.
After yesterday's advance to the weekly PP and 100-day SMA at 140.82 the Euro has plunged below the monthly S1 and major level at 140.08/00.
Though initially there were doubts whether USD/CHF will be able to carry on with the advancement after encountering the 100-day SMA, the exchange rate managed to overcome this obstacle.
USD/JPY is struggling to pass through the formidable resistance at 102.38/16, which is required for a bullish outlook to be confirmed.
As the Cable failed to rise above the weekly PP yesterday, it extended the decline from 1.70, closing in the end near the weekly S1 and monthly PP.
Despite the toughness of the support at 1.3754/25 (it was formed by the 100-day SMA, long-term up-trend and monthly S1) and the majority of the monthly indicators being bullish, EUR/USD preserved a downward momentum and breached the lower edge of the rising wedge to the downside.
After some uncertainty in this currency pair the Kiwi has received a bullish impetus from the monthly PP at 0.8622 and is trading around the weekly PP at 0.8669.
The pair breached the weekly PP and major level at 1.09, but just after that it weakened below this significant level.
The Aussie has little changed through last couple of days, it still is seeking for a catalyst.
The Euro dropped to trade around the monthly S1 at 140.08, after the weekly PP and 100-day SMA at 140.82/84 was reached.
USD/CHF breached the down-trend at 0.8832/14, which implies a strong bullish momentum, but the currency pair is having trouble overcoming the 100-day SMA at 0.8873.
USD/JPY is currently trying to restore its bullish outlook by gaining a foothold above 102.40/19, which consists of the long-term up-trend and 55 and 100-day SMAs.
Although there were no notable supports nearby, GBP/USD went in the direction suggested by the technical indicators, namely north.
EUR/USD remains completely motionless after hitting the support at 1.3753/25.
Last week the pair reached a new 2014 high at 0.8779; however, after approaching this level the pair started to fall and by week's end it slipped beneath the monthly PP at 0.8622.
Since the pair declined below the major level at 1.09 and touched another major at 1.08 last week it has failed to reverse this retreat and to appreciate above 1.09.
After consolidation around 0.9250 the Aussie managed to break the monthly PP at 0.9316 and almost reached the major level at 0.94 previous week.
After last week's decline the Euro started to regain some of its lost value today, at the moment the pair is trading slightly above the monthly S1 at 140.08.
USD/CHF has just broken out of the falling wedge pattern, meaning the outlook on the currency pair is now strongly bullish, even though the weekly and monthly indicators are giving ‘sell' signals.
Unless USD/JPY manages to gain a foothold above the major rising trend-line (in force since the beginning of 2013) that it has recently breached, the pair will be seen as bearish in the long term.
The Cable remains bearish after hitting the 2009 highs.