The support at 0.9038/25, mainly formed by the 100-day SMA and the monthly PP, did not manage to prevent a sell-off.
USD/JPY has finally escaped the boundaries implied by the falling wedge pattern.
GBP/USD continues to trade just above the 2012 highs, as neither bulls nor bears are willing to give up at the moment.
Although we were expecting the Euro to remain below the monthly pivot point, it did rise above 1.3582/61 and test the 100-day SMA.
Not with ease but the pair advanced above the cluster of strong resistance around 0.8267/37.
Pair is not showing any, at least half clear, bias anymore and just hovers around 1.105.
It seems aussie is not willing to give up as it approaches 90 cent mark.
Pair found support around 136.75/50 a few days ago and seemingly has received a bullish impetus which pushed it to test the area around 139 JPY.
For the time being USD/CHF manages to stay afloat above 0.9038/25 (100-day SMA and monthly PP), suggesting there is still a chance the greenback will recover and touch the 200-day SMA before the quarter ends.
Right now USD/JPY is trading at the upper boundary of the falling wedge pattern.
Tuesday's rally failed to reach the weekly S1, instead the Sterling returned back to the 2012 highs.
The currency pair moved a little closer to the monthly pivot point, but nonetheless remains under considerable downward pressure.
USD/JPY dipped beneath the 100-day SMA, but subsequently disregarded bearish technical indicators and managed to mount 0.9038/25 once again.
Despite the strength of the nearest support at 101.00/100.65, the currency pair failed to gain enough bullish momentum after testing it in order to overcome the 100-day SMA.
The Cable respected a tough demand area at 1.6300/1.6273, as it consists of several significant levels.
EUR/USD continues to consolidate after testing a down-trend support line that can be drawn by connecting the most recent troughs.
Pair bounced off the 0.805 and at the moment is testing 82 cent mark.
Pair has taken a step back after a sell off in the past days and at the moment is hovering above 1.1050.
Pair bounced off the weekly PP and at the moment is testing weekly PP/55-day SMA around 89 cent mark.
Pair failed to consolidate around 138 JPY yesterday and dipped below 137 JPY.
Although we were confident that 0.9038/25 will be enough to negate any selling pressure, yesterday USD/CHF effortlessly went through this support.
The U.S. Dollar proved to be still vulnerable to the negative fundamental surprises and gave up even more of its positions.
As expected, due to a lack of support, the Sterling pierced through the 55-day SMA and the weekly S1, reaching a more dense demand area around 1.63, which consists of the 2012 highs, 100-day SMA and the monthly S1.
The currency pair performed a U-turn just before touching 1.3453/43 and surged upwards, thereby confirming importance of the 200-day SMA for the market.