Although we consider 1.6237 to be a major resistance level, being formed by the monthly R1, long-term down-trend and the local peaks, the Cable continues to approach the January high.
Being unable to fully erode the support at 1.3473/23, EUR/USD returned to the resistance at 1.3559.
Pair initially stalled at the 100-daY SMA, but picked up the pace today and is continuing to erode support levels.
Pair maintained it's bullish stance and has tested August high already.
Pair continues to depreciate and at the moment is trading below the weekly S3.
Pair continues to be bullish as it eroded weekly R1. However, it seems to have lost momentum and seems to be just hovering slightly above the mentioned support.
Being unable to pass through the resistance at 0.9169, USD/CHF stepped back from the weekly PP and the 100-day SMA.
USD/JPY effortlessly pierced through the nearby resistances yesterday, soaring up to the next significant area at 101.80/40, below which the currency pair is consolidating at the moment.
GBP/USD continues to aimlessly oscillate between the resistance at 1.6237/14 and the support at 1.6074/34.
Despite a massive sell-off that occurred two days ago, depreciation of the Euro in the near-term is unlikely to remain as straightforward.
Pair continued to depreciate after the yesterdays failure and has already fallen below the 100-day SMA.
Pair continues to recover after touching weekly S1/monthly PP area and at the moment is retesting downtrend resistance (connecting July and August highs).
Pair continues to depreciate after failing at 55-day SMA. Today it eroded 100-day SMA and at the moment is testing weekly S2.
Pair is demonstrating increased volatility as it once more (second time in three days) has peaked above Oct high after bouncing from weekly PP yesterday.
While yesterday there were concerns that the bearish correction might extend down to the February low, today it already does not seem that the sell-off will resume.
USD/JPY is on the verge of breaking through the resistance at 100.88/40, an event which would open a path towards the May high at 103.74.
At first the price of the Sterling made an attempt to rise, but was stopped ahead of 1.6237/21 and then forced to lose ground until it hit the support formed be the monthly pivot point and the 55-day SMA.
hough not without the help of the FOMC comments, but EUR/USD has finally decoupled from the up-trend resistance at 1.3557/42 by taking a nosedive down to the August high and the 100-day SMA at 1.3451/23.
After continuous attempts the pair failed to advance above the November high and at the moment is eroding weekly PP/20-day SMA.
Although it was probed few times already the downtrend resistance connecting July and August highs is keeping the pair depressed.
Pair was showing substantial bullishness and seemed like able to advance above the 55-day SMA, but did not manage to do so.
Yesterday's rally gave the impression that pair is planning to erode November high and test weekly R1 in the nearest future.
Due to a failure to cling to the support represented by the June low at 0.9129, USD/CHF plunged down to the simple moving average for 55 days.
Right now the U.S. Dollar is on the defensive across the board, losing ground against most of its rivals.