To some extent the Kiwi has lost its strength; however, at the same time its losses has been rather small. Moreover, this year's high was set last week and that is when the decline started.
A few days back it already seemed that the U.S. Dollar is starting to recover; however, as we know it failed to find a bullish momentum.
After yesterday's impressive advance, when the pair set a new high this year at 0.9506 the Aussie fell below the weekly R1 at 0.9455 today.
The Euro advanced for two straight days; although, at the moment, it seems that the pair is having a short term correction around the monthly PP and weekly R1 at 138.84/91.
Right now the 100-day SMA is coping with the selling pressure that was a result of a failure at 0.90.
USD/JPY seems to be well-underpinned by 101.20, but it could be only a pull-back to the recently breached up-trend before another, even stronger, bearish wave.
The Great British Pound continues to strengthen after crossing the 2009 high, and the currency seems to be unlikely to stop until it reaches the edge of the bullish channel at 1.74.
For the time being the 200-day SMA successfully carries out its mission, namely is not letting the Euro to advance further, even though the monthly studies are mostly bullish.
Yesterday the pair fell below the weekly PP at 0.8744 suggesting that it might lost its bullishness; at the same time, it woke up pair's bulls who managed to push the Kiwi higher.
Even though yesterday it already seemed that the greenback has regained its bullish momentum the pair remains bearish.
After some instability during the last sessions the Australian currency received strong bullish impetus and set a new high this year at 0.9486.
The pair has gained bullish momentum, it prolonged yesterday's advance and breached the monthly PP and weekly R1 at 138.84/91.
The pair continues its journey south, as none of the nearby supports were able to stop the bears.
For now the support at 101.20 stands its ground, meaning there is still a chance, even though slim, the U.S. Dollar is going to recover from here.
Although the Cable has been hesitating to extend the rally the past two weeks, in the end the exchange rate managed to overcome the 2009 high at 1.7044.
The currency pair has finally touched upon one of the main resistances, which in turn is expected to prove propensity of the Euro to decline over the long term.
The New Zealand Dollar performed well last week. The Kiwi set new high this year at 0.8795; however, pair's bulls did not manage to push it even higher.
Greenback's decline has been stopped by the 2011 high at 1.0658 and we do believe that from this point onwards the buck will start outperforming the loonie.
It seems that the Aussie has lost its strength before reaching this year's high (at 0.9462); however, it was trading near this level reaching the recent high at 0.9448.
Through last three trading days the pair has little changed, it is trading in range from the weekly PP at 138.42 to the 20-day SMA at 138.56.
The U.S. Dollar broke away from the 200-day SMA and closed below the 55-day SMA, meaning the current downward momentum is unlikely to subside any time soon.
USD/JPY decisively breached the up-trend support line and then moved rapidly towards 101.20 last week.
The bullish pressure does not allow the Cable to retreat. However, at the same time the currency pair is unable to push through the resistance at 1.7044—the 2009 high.
EUR/USD has gotten even closer to a cluster of resistances at 1.3700/1.3669.