It seems that bulls decided to take a step back before storming 1.1 level.
Pair has picked up the pace and at the moment is testing weekly R1/55-day SMA around 0.9070.
Surprisingly, the pair failed at weekly PP and at the moment is hovering above the 140 JPY.
Just recently USD/CHF has broken out of the falling wedge pattern that has been developing throughout the past year, meaning that the pair's long-term perspectives are strongly bullish.
USD/JPY failed to return above the up-trend it has been respecting since October, and, as a result, slid further, below the support formed by the monthly PP and the 2013 highs.
A hurdle represented by the 2011 highs, namely 1.65, stays intact despite numerous attempts of GBP/USD to breach it.
The resistance zone created by the 55 and 100-day moving averages failed to contain bullishness of the currency pair and allowed it to peak at 1.3686 last Friday.
NZD/USD remains buoyant due to a dense demand area below the current price, namely between 0.8232 and 0.8200.
The currency pair continues with its precipitous increase—at the moment USD/CAD is testing the monthly R3 level and seems to be able to close above this resistance today.
AUD/USD once again took a U-turn ahead of the August low and is currently gaining pace while moving en route to the monthly pivot point at 0.8966.
EUR/JPY remains contained between the resistance at 143.25/142.91 and the support at 141.34, meaning that the currency pair is likely to stay directionless in the nearest future.
As it turns out, the strength of the resistance at 0.9128/20 was underestimated.
The currency couple still lacks bullish momentum in order to overcome the up-trend resistance line, thus increasing a possibility of yet another bearish correction.
GBP/USD managed to close above a tough resistance level, and this is a positive sign for the price, especially considering bullishness of the technical indicators on the daily and weekly charts.
EUR/USD bounced off the monthly S1 at 1.3545 yesterday, which thereby proved to be a strong support.
Pair continues to consolidate the gains after the rally in the past week.
Pair continues to appreciate and after some struggle with 2013 high it is aiming to advance above the 2010 high.
Pair failed at 90 cent mark a week or so ago ant continues to trail lower.
Pair continues to consolidate recent losses and continues to hover below the 143 JPY.
The support at 1.3613/1.3598, consisting of the 55 and 100-day SMAs, has finally given in to the selling pressure, thereby exposing the monthly S1 at 1.3547/45.
The currency pair appears to have difficulties with climbing over 104.92/68, which is mainly formed by the 2008 January low and the up-trend line (in place since November).
Right now GBP/USD is facing an important challenge in the face of the resistance represented by the weekly and monthly pivot points at 1.6469/49.
USD/CHF has successfully defeated the monthly R1 at 0.9091 and is currently trying to mount yet another obstacle at 0.9128/20, being that this is the level of the June low and the weekly R1.
Pair is consolidating recent gains, but is showing slight bullishness which allows us to believe that 0.8333/49 area will be tested soon.