GBP/USD carries on consolidating just below the weekly PP at 1.66 before the sell-off is resumed.
EUR/USD continues to fluctuate within a tight range this week—between 1.32 and 1.3150.
After reaching the 0.83 level at the beginning of the week the pair has gained a bullish momentum and it approached the 0.84 level today.
The U.S. Dollar has lost its bullish momentum, which pushed the pair towards the 1.10 level at the beginning of this week.
The Aussie prolonged its recovery today by climbing above the 55 and 100-day SMAs at 0.9354/44, respectively.
EUR/JPY continues its downfall, as it fell below the weekly S1 at 136.90 today. Moreover, since the pair attacked the 138 level on 24th of August it has been on a constant decline.
Although most of the near-term indicators poaint North and the price has recently closed above the 2013 Q1 high, USD/CHF is currently retreating.
For the time being this week is bearish for the U.S. Dollar, as it has already given up 50 pips.
The Cable refuses to leave the vicinity of the weekly PP, which has already been confirmed as a resistance level.
Despite a plethora of ‘sell' signals on the daily and weekly charts, the Euro is currently recovering, as the support at 1.3150, represented by the monthly S2, proved to be quite strong.
This has been only the third time when NZD/USD has appreciated for two days in a row since the down-trend on 10th of July began.
Since the pair touched the 1.10 level on Monday the bears took over the control. Nevertheless, we think USD/CAD will not slide below the Bollinger Bands at 1.0877.
After falling below the 0.93 level on Monday the Aussie has been doing much better, as the currency approached the cluster of resistances (55 and 100-day SMA, weekly R1, monthly PP), that was mentioned yesterday.
The Europe's common currency continues to fall relative to the Japanese Yen, as of today the pair reached the weekly S1 at 136.90.
Although at the very beginning of this week the bears seemed to be winning and were in a good position to throw the rate back some 60-80 pips, in the end USD/CHF did not need to come down to 0.91 in order to receive a bullish impetus.
Without reaching the monthly R1 level at 103.50 USD/JPY proved to be well-supported at the moment and returned to the resistance at 104.
Soon after closing the downside gap GBP/USD turned around and resumed to decline.
The currency pair continues to grind lower and is about to hit the monthly S2 level, the last significant obstacle standing before 1.31.
Today has been one of the few days lately when the pair appreciated instead of weakening, the Kiwi rebounded above the Bollinger Bands at 0.8327.
The U.S. Dollar tested the 1.10 level yesterday; however, it was not able to breach it, afterwards a decline towards the weekly PP at 1.0944 followed.
The Australian Dollar recovered from yesterday's dive beneath the 20-day SMA and weekly PP at 0.9301/0.9294, respectively.
EUR/JPY is trading slightly above the 137 level, after it was reached earlier today. Moreover, the Euro has been on a down-trend since the pair approached the major level at 138 on last Friday (August 22nd).
Although many of the daily and weekly studies were bullish, a rally above 0.9150 turned out to be unsustainable, and USD/CHF is currently falling.
Regardless of the daily and monthly technical indicators mostly pointing upwards, USD/JPY is currently undergoing a downward correction.