The down-trend resistance line, in combination with the 100-day SMA, did not let the New Zealand Dollar to appreciate any further and initiated a decline that has already broken through the monthly PP.
USD/CAD continues to gain ground after receiving a strong upward impetus near 1.10.
For the time being AUD/USD manages to float above the monthly S1, but, given that the resistance at 0.8845/35 is deemed to be impenetrable, the Aussie is more likely to follow the path suggested by the majority of technical indicators, namely the one that leads south.
EUR/JPY continues to respect the downward-sloping boundaries of the bearish channel that started emerging soon after the beginning of this year.
USD/CHF turned out to be unable to keep up the pace and recoiled from 0.8999/86, as suggested by some of the technical indicators, thereby delaying its arrival at 0.9162 (200-day SMA).
USD/JPY failed to surpass one of the recent lows and pared its recent gains by going all the way back to the 38.2% retracement of the Oct-Dec rally.
Yet another unsuccessful try to rise beyond the monthly R1, and GBP/USD is descending from 1.6679/28 towards 1.6518/1.6478, the lower boundary of the 11-month rising wedge.
Yesterday EUR/USD spiked through a number of supports, including the 100-day SMA at 1.3618, but at these levels the demand still exceeds the supply, and the currency pair returned back to 1.3661/44.
The support at 0.8240/20, formed by the monthly pivot points and the 55-day SMA, appears to have stopped the downward momentum that has persisted since Jan 14.
USD/CAD has recently confirmed 1.10 as the new support and therefore is set to push forward, as implied by most of the near-term indicators.
AUD/USD failed to gain a foothold above the monthly S1 and is currently sliding en route to 0.87, which has already proved to be important for the market.
The down-trend resistance line at 141 stopped advancement of the pair and initiated a sell-off, which seems to be likely to result in a breach of the monthly S1 and the 38.2% retracement of the November-December up-move.
Today there are more ‘buy' signals provided by the technical indicators than yesterday, but the Cable continues to hesitate to advance around the resistance represented by the monthly R1 at 1.6679.
USD/JPY stopped short of touching the 100-day SMA, turned around and subsequently pierced through 102.90/78, thereby exposing the key cluster of resistance at 104.09/103.73.
The U.S. Dollar regains its previous positions in the market, and USD/CHF is no exception.
At the moment EUR/USD is facing the 55-day SMA and the up-trend support line, both of which have proven to be able to influence direction of the currency pair to a large extent.
Pair showed clear bullish bias today, but failed to consolidate above 83 cent mark.
Pair has peaked till the highest level (1.1177) this year today and seems to be willing to push the ceiling further.
Pair continues to inch up higher after bouncing slightly ahead of 0.8650 a few days ago.
Despite a strong bounce form the 2009 high a few days ago, pair failed to gain pace and continues to face high downside risk.
As expected, in view of several significant support levels nearby, the downward pressure alleviated, thereby allowing USD/CHF to turn around.
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.