Even though yesterday's movement looked very bullish and determined to overcome the 100-day SMA, at the end of the day the price dipped beneath the 100-day and 20-day SMAs and currently is fluctuating in a free area just beneath them.
After an outstanding beginning of the week and a new high, the pair gradually retreats lower.
Yesterday EUR/USD continued to appreciate and stepped notably up.
A re-test of 0.8306/0.8275 did not occur yesterday, allowing the currency pair to continue climbing higher.
The currency pair proved to be lacking upward impetus, as an interim resistance at 1.0071 capped the price, preventing a test of 1.0107/1.0092.
Bears have regained the control over the price by continuously supplying the Aussie and thereby forcing it to give up former positions.
Once the currency pair has recommenced a recovery, the daily technical indicators turned bullish, even though the signals are moderate for now.
Seems that USD/CHF pair has finally settled above the 20-day and 55-day SMAs and is ready to move in an upside direction.
USD/JPY pair demonstrates limitless bullish sentiments, as the price sharply increased yesterday and reached even a new high at 94.36.
The Cable started the week with a sharp bearish impetus, as the price slipped from the 20-day SMA and almost reached the lower Bollinger line at 1.5619.
As the major currency pair easily slipped through the 20-day SMA, it found support at 1.3350 level, where no technical indicators are located.
The currency pair lingers at the rising support line, having insufficient upward momentum in orders to successively penetrate resistances at 0.8356/54 and 0.8382/73 and thereby pave the way towards 0.8499/49.
USD/CAD carries on stepping higher due to the absence of any strong resistances.
The rally AUD/USD commenced last week has encountered a strong resistance zone at 1.0343/36, which did not allow for a rise up to the 200-day SMA that in turn is standing near 1.0387 at the moment.
The support at 123.29/13 has held the selling pressure and prevented a protracted drop of a price, preserving the potential of the Euro to appreciate further.
For the past 3 session pair has been testing weekly PP at 0.918 which is not giving up.
For quite some time now pair has been opening the week with up to 100 pip dips and picking up again after that.
Pair started the week with mild appreciation, but today it dipped by more than 50 pips.
Pair started the week at 1.3360; although the formed candles are bearish trading volume and volatility are low not giving any clear directional impulse.
After a short contact with the bullish trend-line NZD/USD started to move away from it at an accelerate pace, acting in line with our previous assumption that the currency pair should for now remain within an ascending triangle it has been forming for the last 250 bars.
Indeed, a cluster of supports, mainly formed by the 55, 100 and 200-day SMAs proved to be formidable enough to end the bearish correction and boost activity of bulls that have sent the price already beyond 1.0008.
As expected, a zone constructed by the weekly pivot point and Bollinger band was unable to resist bears for long, allowing a dip down to 1.0248/43, which in turn initiated an anticipated covering of short positions.
EUR/JPY has made another step towards a key support area at 123.29/122.69, intactness of which ensures veracity of our idea that the Euro retains potential to maintain appreciation.
After being flat during this week, USD/CHF accumulated a bullish impetus and yesterday sharply rallied towards the 55-day SMA.