As the 55-day SMA failed to underpin the pair, now it is 100-day SMA's turn to try to prevent further depreciation of the Euro.
The monthly pivot point failed to keep GBP/USD afloat and thereby exposed 1.6590/87.
The bullish momentum we have been observing this week disappeared as the pair approached a key resistance represented by 104.
While USD/JPY is hesitant to advance at the moment, USD/CHF is running wild.
NZD/USD has prolonged its retreat to three straight days and it has been rather sharp as the pair has lost almost 200 pips.
The pair is still trading above 1.1000 and it looks like market participants are waiting for something more significant to happen in order to trade.
AUD/USD slipped towards 0.92, this level is important, because it is not only a major level, but also it happens to be weekly PP.
Today the pair has traded almost exactly at that same range as yesterday, it approached 143.50; although, the pair was not able to break it.
Despite a good start EUR/USD failed to preserve a bullish tendency and declined after touching the resistance at 1.3820/15, which is created by the monthly PP and 20-day SMA.
GBP/USD does not seem to be in a hurry to descend, but being that it has just recoiled from the rising resistance line, the pair may cede more ground from here.
As USD/JPY approached 104, the rate of the U.S. Dollar's appreciation slowed down.
Regardless of seemingly strong bearish momentum, the support at 0.8813/04, mainly created by the monthly PP, managed not only to stop the latest sell-off, but it also initiated a rally that in turn erased the recent losses.
Pair's OutlookThrough the end of yesterday's trading session and today we have seen a decline in NZD/USD as it has slipped below 0.8700 and later breached the weekly PP at 0.8627.
In the last days USD/CAD has traded above 1.1000; however, the pair is trying to break this level desperately.
AUD/USD is still trading around 0.9250 as it has not moved neither higher, neither lower.
The pair broke the weekly R2 at 143.03; however, it was not able to consolidate above this level as the major 143.50 level sent it back below weekly R2.
For now this week is bullish for EUR/USD, as it is about to post a third day of gains.
At first it looked as if the Sterling is going to continue the advancement seen last week.
The U.S. Dollar disregards the daily and weekly technical indicators and strengthens relative to the Japanese Yen.
After hitting the ceiling at 0.89 USD/CHF stays in a down-trend.
Today the pair approached 0.87; although, it didn't have strength to remain at that level. After reaching 0.87 the pair is trading around April's high at 0.8675.
USD/CAD has consolidated around 1.1050 as it is supported by uptrend support line and it has strong resistance levels ahead – 55-day SMA, monthly PP and weekly PP at 1.1086/99.
Today the pair tried to break 0.93 level once again; however, unsuccessfully, after reaching this level it dropped back to trade around 0.9250.
EUR/JPY has broken weekly R1 at 142.28 and the pair is trading above 142.50 at the moment.