The pair closed below the monthly PP at 1.0965 yesterday and that provoked the bearish traders to start a selloff.
The pair breached the 20-day SMA, monthly PP and weekly R1 around 0.9320 today, this was the first major move in about two weeks.
Today EUR/JPY managed to break 142 level; however, the pair did not stay there for long and it slid below the weekly and monthly PP once again.
This week's bearish gap has been closed and USD/CHF now stands ready to decline.
USD/JPY continues to grind lower, although it has already hit the major rising support line at 102.00/101.82.
GBP/USD, while trading below 1.69, is struggling to resume the rally.
There are now even more ‘buy' signals than yesterday, even though the currency pair is facing a tough resistance represented by the multi-year down-trend.
Pair started the week with bullish bias and at the moment is flirting with 2013 high.
Pair is maintaining it's mildly bullish stance and seems t be aiming at major level at 1.1000.
Pair is trading almost exactly at weekly PP and seems to remain biasless.
Pair started the week at the weekly and monthly PP and was almost immediately pushed down.
At first the new up-trend support line triggered a rally in USD/CHF, forcing it to surge all the way to 0.8832/31.
While initially Friday seemed to be a positive day for the U.S. Dollar, in the end all the gains were erased, leaving one of the main supports exposed.
Despite a breach of the major obstacle in the face of the February high at 1.6822, GBP/USD is nonetheless failing to gain traction, even though there are no more significant resistances until 1.70.
Although for a brief moment it seemed that EUR/USD is going to fall beneath the 55-day SMA, in the end the currency pair proved to be buoyant.
Since the pair broke the weekly PP at 0.8587 on Wednesday it has stayed there; however, a further appreciation has not fallowed.
There have been little changes, after at the beginning of the week the pair slipped rather significantly and approached 1.0953.
This week the pair was little changed and mostly traded around the major level at 0.9250, excluding today's decline.
The pair prolonged its advance and appreciated towards the weekly R2 at 142.41 today.
USD/CHF is currently testing a newly formed rising support line, which may potentially push the price back to 0.8832/10.
The U.S. Dollar managed to quickly recuperate after a failure at 102.61/55.
The Cable ended yet another day in green after breaching the weekly R2 level.
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.