Although last Friday USD/CAD plunged down to the monthly PP, the U.S. Dollar managed to recover thereafter and close the week above the key trend-line.
As suggested by the weekly and monthly technical indicators, AUD/USD stalled ahead of the falling resistance line at 0.8950 and started negating recent gains.
As it turned out, the supply circa 139, implied by the 2009 highs in conjunction with the 100-day SMA, was insufficient to prevent further appreciation of the Euro.
As long as the two-month rising trend-line at 0.8988, reinforced by the 55-day SMA, remains intact, the outlook on USD/CHF will stay bullish—the price will be inclined to gravitate towards the long-term moving average at 0.9154.
USD/JPY started the week some distance away from Friday's close, but, being that the gap has already been filled, the currency pair may continue moving forward.
The support near 1.63, composed of the 2012 highs, 100-day SMA and the monthly S1, managed to withstand selling pressure that persisted throughout the previous week.
EUR/USD opened this week below the 100-day SMA, but still seems to be willing to advance further north from here.
Despite the density of the resistance area at 0.8262/29, mainly created by the 55 and 100-day SMAs, the kiwi continues to appreciate relative to its U.S. counterpart.
It seems today USD/CAD is going to fall beneath the up-trend line that has been keeping the price afloat this week.
Right now the currency pair is testing a cluster of resistances between 0.9006 and 0.8975.
After yesterday's rally the currency pair stalled ahead of the resistance at 139.03/138.69, which consists of the 100-day SMA, 2009 highs and the one-month down-trend resistance line.
The support at 0.9038/25, mainly formed by the 100-day SMA and the monthly PP, did not manage to prevent a sell-off.
USD/JPY has finally escaped the boundaries implied by the falling wedge pattern.
GBP/USD continues to trade just above the 2012 highs, as neither bulls nor bears are willing to give up at the moment.
Although we were expecting the Euro to remain below the monthly pivot point, it did rise above 1.3582/61 and test the 100-day SMA.
Not with ease but the pair advanced above the cluster of strong resistance around 0.8267/37.
Pair is not showing any, at least half clear, bias anymore and just hovers around 1.105.
It seems aussie is not willing to give up as it approaches 90 cent mark.
Pair found support around 136.75/50 a few days ago and seemingly has received a bullish impetus which pushed it to test the area around 139 JPY.
For the time being USD/CHF manages to stay afloat above 0.9038/25 (100-day SMA and monthly PP), suggesting there is still a chance the greenback will recover and touch the 200-day SMA before the quarter ends.
Right now USD/JPY is trading at the upper boundary of the falling wedge pattern.
Tuesday's rally failed to reach the weekly S1, instead the Sterling returned back to the 2012 highs.
The currency pair moved a little closer to the monthly pivot point, but nonetheless remains under considerable downward pressure.
USD/JPY dipped beneath the 100-day SMA, but subsequently disregarded bearish technical indicators and managed to mount 0.9038/25 once again.