USD/CHF is currently forming a flag pattern, which implies resumption of the July rally at some point.
USD/JPY did in fact find support at 102.38/30 yesterday, where the 200-day SMA joined forces with the monthly PP.
The Cable, despite opening this week 40 pips above the Friday's close, is not trying to close the upside gap for the time being.
As expected, EUR/USD did not rise above the three-week down-trend resistance at 1.3390/80, instead it declined down to 1.3345/40.
Already from 5th of August the New Zealand's currency has been trading below the 0.85 level and it has tried to surpass this level repeatedly; although, unsuccessfully.
The pair is little changed since it tumbled below the major level at 1.09 on Friday. Even though, the pair slid below the 1.09 mark, which was a major support at the first part of August, the decline was stopped by pair's bulls in a moment.
Last week the Aussie breached the 0.93 level with a sharp advance on Wednesday; moreover, afterwards it strengthen its positions with a close above the 0.93 mark.
The Euro continued to appreciate gradually against the Japanese Yen, the pair has posted a four consecutive daily gains and is looking forward to do the same today.
USD/CHF is getting closer to the major rising trend-line at 0.90, which is supposed to nullify the downward momentum and instead initiate a bullish wave.
A rally above the 200-day SMA once again proved to be unsustainable, as a large portion of the gains were offset by the Friday's dip.
GBP/USD refused to extend the decline and thus opened this week with a large upside gap.
For the past three weeks EUR/USD has been forming a descending triangle, meaning the bears are slowly but surely gaining the upper hand over the bulls.
After a decline at the beginning of the week the Kiwi reversed the losses and even climbed slightly higher, above the weekly PP at 0.9473.
The Greenback has been bearish this week as it has been declining for five consecutive days, reaching the weekly S2 today.
This week the pair strengthened and was able to break the 0.93 level; however, it seems the pair lost its momentum.
The Europe's common currency climbed above the major level at 137 for the third day in a row and it seems that the pair could approach even the monthly PP at 137.76.
The sellers overpowered buyers yesterday and pushed the rate away from 0.91 to the weekly PP.
Without any particular difficulty USD/JPY closed above the monthly PP and 200-day SMA, posting a fourth daily gain in a row and opening a path towards the July high at 103.
Wednesday's sell-off did not extend beyond the support at 1.67, where the Cable currently resides.
Despite constant attempts to escape the recently established trading range EUR/USD continues to move sideways.
The New Zealand's currency prolonged its advance, that started yesterday, as the currency tested the 0.85 level. It is too early to say whether the Kiwi is ready to trade above the 0.85 mark again; although, we should see that soon.
The pair recovered after sliding below the 1.09 level today; however, it still is trading just slightly above this level. In case, the U.S. Dollar closes below the 1.09 mark the pair could touch the weekly S2 at 1.0872; although, to our mind this is unlikely to happen.
AUD/USD has managed to break the major level at 0.93, proving that the Australian currency has not lost its strength.
The Europe's shared currency gained bullish momentum and approached the current down-trend's resistance line at 137.25. If the pair breaks this level the bulls could drive it even higher, towards the monthly PP and 55-day SMA at 137.76/80.