The pair started the day off with a slight decline; however, as expected it found a resistance at 1.1000, which proved itself as an important level.
Pair failed to extend it's gains as it was not able to advance above 93 cent mark.
Pair received a major bullish impetus from the 55-day SMA and jumped above 141 JPY today.
As USD/CHF moves closer to 0.89, the technical studies on the weekly and monthly time-frames warn us of a potential sell-off once the key resistance is hit.
The story continues, as neither the bulls that see USD/JPY rising from 102 nor the bears that are defending the 55-day SMA seem to be willing to give in.
Interestingly enough, EUR/USD and GBP/USD continue moving in the opposite directions, enough though generally we would expect them to exhibit strong direct correlation.
Regardless of the weekly and monthly technical indicators that remain bullish, EUR/USD plunged beneath the support at 1.38.
Since the pair started to strengthen few days ago the bulls have pushed it higher and it reached a new more than a two year high.
Today USD/CAD has prolonged its decline and touched monthly PP at 1.1053.
As expected the AUD/USD has extended its advance and is trading above weekly R2 at 0.9218.
We have seen the pair trading sideways, with some advances and declines but in the last ten days it has traded in a range between weekly R1 and weekly S1 (141.90 and 140.36).
USD/CHF stays positively charged and it continues to close the gap between the spot price and the key resistance at 0.8900/0.8882, a test of which is expected to determine next move of the pair.
USD/JPY remains unable to penetrate supply zone created by the 20 and 55-day SMAs.
The Cable stayed on a bullish path and, as a result, rose up to one of the key resistances.
EUR/USD remains trapped between the resistance at 1.3846/31, represented by the weekly PP and 20-day SMA, and the down-trend support line.
At last we start to see some movements in the NZD/USD currency pair as it has appreciated throughout yesterday and today.
Today USD/CAD extended its fall and reached 20-day SMA at 1.1126; however, it bounced back to trade just below weekly PP at 1.1176.
Pair maintains bullish momentum and is pushing higher. It has eroded 92 cent mark and we expect it to push higher.
Despite the continuous attempts to push the pair lower, bulls managed to keep it afloat above the Ichmoku cloud.
Seemingly with certain difficulties, but USD/CHF nonetheless continues to grind higher in spite of the technicals that mostly give ‘sell' signals.
Regardless of constant attempts to break the 20 and 55-day SMAs, the resistance stands its ground and does not let the currency pair to rally.
Despite a recent dip beneath the 2011 highs and 100-day SMA, GBP/USD managed to recover in a short period of time and it is already testing the weekly PP at 1.6538.
Although the support near 1.38 did in fact prevent further depreciation of the Euro last week, for now the currency still remains unable to restore an upward momentum.
Today we have seen little change in NZD/USD currency pair, in fact during the last ten trading days it has traded mostly around current levels.