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.
Despite the near-term technical indicators opposing a rally, the Euro is gaining ground after it found support in the face of the 55 and 100-day SMAs.
Although the Cable has already reached the up-trend it had previously broken, the pair still does not seem to be willing to decline or at least undergo a bearish correction after an uninterrupted rally started on Mar 23.
USD/JPY develops its success—it has already breached the 100-day SMA and is presently probing the resistance at 103.53/34, which mainly consists of the weekly R1 and 23.6% Fibonacci retracement level.
Being intimidated by the tough resistance near 0.89, USD/CHF took a U-turn and plummeted through the weekly PP at 0.8851.
"One of the worst-kept theories is that the US dollar is due to strengthen after the employment numbers, which should weaken the kiwi." – HiFX (the New Zealand Herald)Pair's outlookThe kiwi has proven itself as the best performing currency among its most-traded peers lately, last week the pair extended its gains and lost its momentum just around 0.87. At the moment
USD/CAD has started this week with a retreat, prolonging last week's decline.
Last week we saw rather significant climb from AUD/USD; however, it stopped near 0.93 and since then it is trading just below monthly R2 at 0.9262.
Through last week we saw EUR/JPY struggling to appreciate above 142; however, the pair has managed to do that today as it received a bullish impetus from 100-day SMA at 141.22.
USD/CHF has already closed the downside gap but remains hesitant to extend the gains due to a seemingly impenetrable supply zone.
Despite the resilience the 55-day SMA has recently demonstrated, in the end USD/JPY has managed to spike through the line and reach 103.03/102.76, which consists of the monthly R1 and 100-day SMA.
Following a rebound from the 100-day SMA and 2011 highs at 1.65 GBP/USD has breached a number of tough resistances, including the 55-day SMA and monthly pivot point.
Although the support at 1.3733/1.3680 is not letting the sell-off to carry on, EUR/USD at the same time is failing to gain a bullish momentum in order to leave this area.
Even though NZD/USD rose even higher today, we think that it has started to lose its bullish momentum.
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.