Yesterday USD/CAD gained slightly and today the pair bounced back to trade around yesterday's opening level at 1.1082.
Pair is demonstrating bullish bias today, but we do not think it should be perceived as a predictor of a long term move.
Pair remains biasless after taking a step back ahead of 144 JPY a few days ago.
USD/CHF has somewhat pulled back after nose-diving from 0.89 down to 0.885 last week.
Although the upward impetus noticeably weakened following a test of the resistance between 103 and 104 last week, USD/JPY carries on grinding higher.
The Cable took a major hit yesterday, plummeting all the way from the weekly PP down to the monthly pivot.
At the moment EUR/USD stands 50 pips away from the monthly R1 and struggles to extend Thursday's rally.
After last week's advance, when the pair broke even the 0.85 level and set new 2014 high at 0.8522, today NZD/USD has little changed and consolidated around previous week's closing level.
Last week the pair was little changed; however, on Thursday it reached weekly S1 at 1.0990 before closing at 1.1086.
Pair extended it's losses further after failing at the 200-day SMA at the end of the last week.
Pair took a step back after a substantial rally last week and at the moment seems to be consolidating around 143 JPY.
USD/CHF's short-run outlook remains bearish. The exchange rate is expected to fall down to 0.87, where it will meet the down-trend support line and the monthly S1.
Following an explicitly bullish week USD/JPY was bound to enter a consolidation phase.
Although there were not supposed to be any significant resistances nearby, the Sterling was unable to continue advancement.
Last week's accomplishment, namely a breach of 1.38, opens for EUR/USD a path towards 1.43, the 2010 highs.
Today NZD/USD appreciated further after yesterday's gains; however, it lost its bullish momentum as it met strong resistance at around 0.8512/18 (weekly R2; monthly R1).
Pair received a major bullish impetus from weekly S2 yesterday and returned back till weekly PP, where it was failed only few days ago.
Pair tried to extend it's gains further, but failed at 200-day SMA and at the moment is trading slightly below 91 cent mark.
Pair extended it's gains further and eroded resistance at 144.39 today.
Being unable to weather the selling pressure triggered by proximity of USD/CHF to 0.89, the currency pair plummeted through the weekly PP down to the recent low.
USD/JPY effortlessly pierced through a cluster of resistances at 102.89/78 yesterday.
GBP/USD continues to move north. Right now the currency pair is supported by the weekly PP and the 20-day SMA at 1.6695/91, but does not face any significant resistances.
Although there were good reasons to believe that EUR/USD would not surge above 1.38, the currency pair approached the Dec 27 high and seems to be willing to remain on a bullish path for now.
NZD/USD has reached new 2014 high once again at 0.8481 mostly impacted by strong fundamentals and we think that the pair has reached the top.