The New Zealand Dollar performed well last week. The Kiwi set new high this year at 0.8795; however, pair's bulls did not manage to push it even higher.
Greenback's decline has been stopped by the 2011 high at 1.0658 and we do believe that from this point onwards the buck will start outperforming the loonie.
It seems that the Aussie has lost its strength before reaching this year's high (at 0.9462); however, it was trading near this level reaching the recent high at 0.9448.
Through last three trading days the pair has little changed, it is trading in range from the weekly PP at 138.42 to the 20-day SMA at 138.56.
The U.S. Dollar broke away from the 200-day SMA and closed below the 55-day SMA, meaning the current downward momentum is unlikely to subside any time soon.
USD/JPY decisively breached the up-trend support line and then moved rapidly towards 101.20 last week.
The bullish pressure does not allow the Cable to retreat. However, at the same time the currency pair is unable to push through the resistance at 1.7044—the 2009 high.
EUR/USD has gotten even closer to a cluster of resistances at 1.3700/1.3669.
The Kiwi remained strongly bullish stance and it managed to set a new 2014 high at 0.8795 this week. Today the pair slid slightly closer to the weekly R1 at 0.8747.
The pair remained strongly bearish this week as it dived beneath the monthly S2 at 1.0697 today and did not show any bullish signs.
The Aussie fluctuated between the monthly R1 (at 0.9415) and the weekly PP (at 0.9380) this week. However, today the pair approached the weekly R1 at 0.9437, but it failed to consolidate there.
EUR/JPY has slipped slightly lower this week. The pair fell below the weekly PP at 138.46; although, the weekly S1 together with the major level at 138 halted pair's decline.
Although USD/CHF does not seem to be in a hurry to decline at the moment, there are also low chances of the currency pair returning above the 200-day SMA in the nearest future.
Since one of the major trend-lines has just been breached, USD/JPY is expected to hit 101.20 in the coming days.
The bulls turned out to be persistent, as for now the Cable is refusing the leave the vicinity of the 2009 high.
EUR/USD still does not exhibit any willingness to advance either north or south.
The Kiwi extended its yesterday's appreciation against the buck today. The pair traded just 4 pips below this year's high at 0.8780; although, afterwards it fell lower.
The greenback extended its decline against the Loonie today as the weekly S1 at 1.0705 was approached.
The Aussie appreciated slightly today and even though it failed to breach the monthly R1 at 0.9415 it still is trading above the major level at 0.94.
It seems that at the moment the Euro is not strong enough to break the 20-day SMA level at 138.77.
USD/JPY is now facing serious risks, being that the up-trend line already seems unable to attract demand for the U.S. Dollar.
In the wake of GBP/USD challenging the 2009 high, the Sterling is currently ceding ground.
The Euro is slowly but surely moving in the direction of the 55 and 200-day SMA on the back of a weaker greenback.
Despite the 200-day SMA proving to be a fairly reliable support throughout June, USD/CHF closed beneath 0.8936 yesterday.