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.
Just as yesterday or earlier this August USD/CHF's efforts to resume advancement are fruitless—the resistance at 0.91 continues to act as a ceiling and is not letting the pair to re-visit this year's high.
Though the daily technical indicators are no longer bullish like the monthly studies, but are rather mixed, the U.S. Dollar keeps gaining ground against the Yen.
A bullish scenario did not transpire, as the price bounced off the weekly PP and plummeted through some of the major supports (monthly S1 and 200-day SMA) on the back of softer BoE rhetoric.
The currency pair remains trapped between 1.3450 and 1.3350, as neither bulls nor bears are able to push the price in any direction.
The New Zealand's currency is having a one the bigger daily advances today, with the pair approaching the daily PP at 0.8473.
The pair still seems supported around the weekly S1 and 200-day SMA at 1.0922; however, the Greenback has failed to climb higher.
The Aussie gained bullish momentum and climbed above the weekly PP and major level at 0.9297/0.9300, respectively.
The Europe's common currency breached the weekly PP and 20-day SMA at 136.86/137.04 today. At the moment of writing the pair is trading above the major level at 137; nevertheless, to our mind the key resistance level is slightly higher at 137.37.
Yesterday's attempt to break 0.91 did not turn out to be successful.
Although the U.S. Dollar is not as lively as expected after diving to 101.53, the currency is nevertheless grinding higher.