For the past eight weeks EUR/USD has been refusing to leave the vicinity of the major down-trend line and has been constantly trying to breach it, but still to no avail.
NZD/USD is a bit more to the downside despite the appreciation in the past few days.
Pair continues to recover some of the losses that occurred few days back.
The pair continues to trade around 0.925 which is most likely caused by the resistance coming from the 0.9301/29.
Pair remains rather volatile and continues to trade around 142 JPY.
A sudden spark of bullish activity faded as soon as USD/CHF touched upon the major resistance at 0.8846.
As the resistance at 102.63/55 proved to be impenetrable for now, USD/JPY retreated back to 102.26/19, where it will look for the support to launch yet another attack on the 100-day SMA and monthly PP.
GBP/USD has finally accomplished one of its near-term goals, namely a breach of the February high.
Although it looked as if the support represented by the monthly PP has already been broken, EUR/USD found the strength to negate Tuesday's losses.
It seems that after yesterday's decline the pair received a bullish impetus at the weekly S3 at 1.0953.
NZD/USD gained slightly today, the pair appreciated above the 55-day SMA and it is trying to break the monthly PP at 0.8570, which has been the main driver this month.
Lately the pair has not offered much volatility, after the Aussie declined below the major level and weekly PP at 0.9300 on April 23.
Since the pair appreciated above the monthly PP at 141.70 it has continued to trade around this level; however, it has failed to extend its advance.
Since USD/CHF closed beneath the monthly PP and 55-day SMA, it was expected to extend the losses.
USD/JPY seems to have once again failed at 102.72/56 (monthly PP and 100-day SMA), thereby calling into question the currency pair's ability to recover in the long run.
The Cable remains unable to realise its bullish potential implied by the technical indicators because of the tough resistance at 1.6846/14.
As soon as EUR/USD approached 1.39, it was immediately sold off down to the support are around 1.38, which consists of the monthly PP and 55-day SMA.
Today NZD/USD has little changed, after yesterday the pair dived beneath the monthly PP at 08570.
After being supported by the 100-day SMA for almost two weeks the loonie has fallen below it.
AUD/USD remained relatively stable around 0.9250; despite its calmness the pair touched the Bollinger Bands and weekly S1 at 0.9229/23.
Encouraged by yesterday's advance the pair approached the weekly R2 at 142.40; however, when it was reached the pair bounced off to trade around the weekly R1 at 141.85.
There was only a brief rally yesterday during which USD/CHF closed a bearish gap—nothing critical was altered by this behaviour of the pair.
The strong upward impulse seen yesterday confirmed that USD/JPY still deserves a bullish outlook.
Despite the relatively elevated volatility observed yesterday (80-pip trading range) none of the key levels were broken.