The currency pair appears to have difficulties with climbing over 104.92/68, which is mainly formed by the 2008 January low and the up-trend line (in place since November).
Right now GBP/USD is facing an important challenge in the face of the resistance represented by the weekly and monthly pivot points at 1.6469/49.
USD/CHF has successfully defeated the monthly R1 at 0.9091 and is currently trying to mount yet another obstacle at 0.9128/20, being that this is the level of the June low and the weekly R1.
Pair is consolidating recent gains, but is showing slight bullishness which allows us to believe that 0.8333/49 area will be tested soon.
Pair skyrocketed through the resistance levels yesterday and peaked till 2013 high today.
Pair showed bullishness in the past weeks, but failed to advance above the monthly PP.
Pair found initial support with the weekly S1 few days and is continuing to consolidating recent losses today.
After gaining a solid foothold above the support at 0.9044/21 USD/CHF surged up to the subsequent obstacle at 0.9096/91, the one that stands between the spot and the June low at 0.9128/20.
USD/JPY seems to have already overcome intermediate weakness and is ready to challenge the resistance at 104.92/80.
The January high manages to keep the rate away from lower supports, such as the one at 1.6336/19, formed by the weekly and monthly S1 levels.
Two moving averages, namely the ones for 55 and 100 days, continue to underpin the currency pair, postponing a likely decline in the longer perspective.
As noted previously, the latest recovery of AUD/USD was characterised by a lack of bullish momentum.
While the support at 143.25/142.91 has recently failed to halt the decline, the weekly S1 at 141.34 succeeded at preventing a deeper retracement.
NZD/USD has already reached the initial target at 0.83 after the break-out from the descending triangle and is poised for even more gains in the future.
USD/CAD used 1.0650/38 as a springboard and soared up to the dense supply zone at 1.0721/01.
Following a sharp 180-pip rally the resistance zone represented by the 100-day SMA initiated some profit-taking.
Considering the U.S. Dollar has been consistently moving north for the past two months, a small correction such as the current dip should not invalidate the bullish outlook despite a breach of the up-trend.
The Cable spiked below the January high and touched upon the support at 1.6336/19, which helped the Sterling to stay buoyant for the time being.
Even though EUR/USD gained an impressive bearish momentum last week, the support area created by the 55 and 100-day SMAs managed to trigger short-squeezing yesterday.
Pair took a step back after a major rally on Friday and seems to be struggling with 83 cent mark today.
No major changes in the pair's behaviour is observed today or expected any time soon.
Pair continues to demonstrate bullishness, but seems to be struggling with major level at 90 cents.
Pair extended it's losses further, but found support at the weekly R1 today and returned above the 142 JPY mark.
Being unable to penetrate the falling trend-line that creates strong demand area around the monthly S1 level, USD/CHF pushed through the 2012 February low and the down-trend resistance line.