Even though USD/JPY returned back to the monthly S1 and a substantial part of the technical indicators remain bullish, the pair seems to be lacking upward momentum in order to gain a foothold above 102.90/78.
Although GBP/USD has recently taken a hit, it managed to find support circa 1.65 and commence a recovery.
Yesterday's endeavour of EUR/USD to pierce through the monthly pivot point failed, just as the rally observed last Friday.
Pair's sell off last week broke through the 100-day SMA and at the moment is trying to return above it.
Pair took a step back after failure last week and at the moment is hovering above the major level at 1.10.
Aussie-greenback cross seems to have lost bearish momentum and is taking step back.
Pair found support with the 2009 high after a sell off on Friday and at the moment is struggling with weekly PP.
It took the combined strength of monthly pivot point, long-term down-trend support and the 2012 lows to cancel the downward momentum USD/CHF gained while being in proximity to the 200-day SMA.
Considering than none of the closest supports were capable of nullifying the downward impetus, USD/JPY could potentially descend even lower from here.
GBP/USD appeared to have a strong bullish momentum, but it slipped after a test of the monthly R1 at 1.6679, negating as a result a substantial part of its gains since Jan 17.
EUR/USD managed to settle above the rising trend-line, meaning it is likely continue launching attacks on the nearby resistances, such as the monthly PP at 1.3719.
Although NZD/USD has been persistently trying to mount the resistance at 0.8324/09, in the end the currency gave up and, as a result, was pushed back to the monthly pivot point.
For the rally to prove its sustainability, USD/CAD needs to stay above 1.10 in the next few days.
AUD/USD has already crossed the monthly S1 at 0.8764, and it is presently attempting to breach the next support area at 0.8700/0.8662.
The support implied by the 55-day SMA and the weekly PP failed to keep EUR/JPY buoyant—the currency pair plummeted through 141.47 and reached the monthly S1 at 140.13.
Just like many other currency pairs, USD/CHF suffered from broad losses of the U.S. Dollar.
A seemingly reliable support, consisting of the monthly PP and the 2013 highs, failed to keep USD/JPY afloat and let the sell-off to push the price through 104.29/00.
GBP/USD closed yet another day in green by breaching the weekly R2 at 1.6609.
Instead of continuing its descent from the major down-trend line towards the 200-day SMA, as expected, EUR/USD ballooned up to the monthly pivot point.
NZD/USD is struggling to cross the resistance at 0.8324/09, which consists of the weekly PP and the monthly R1. If this supply zone is ultimately overcome, 0.8383/74 is likely to become the next objective.
Despite the presence of the tough resistance represented by the 2009 Sep high and the rising trend-line, USD/CAD effortlessly spiked through 1.10 and stopped only near the weekly R3 at 1.1172, thereby covering 200 pips from yesterday's open price.
As it turned out in the end, the bullish impetus AUD/USD exhibited yesterday proved to be unable to pierce through the resistance created by the August low and the weekly pivot point.
While yesterday the Euro continued to steadily appreciate relative to the Yen, today's trading session was associated with much more volatility and indecision.
While being supported by 0.9091/59, USD/CHF is cautiously approaching the resistance at 0.9176/60 (200-day SMA), which is a key to the long-term advancement of the currency pair.