The long-term perspective remains bullish for the Dollar-Yen pair because of the reliable up-trend at 97.96/86 and the fact that monthly indicators are pointing upwards. The short run, as it turns out, is associated with considerable downside risks.
Apparently, the Cable has lost the bullish momentum it carried last week.
Despite the presence of the rising resistance line and the 55-day SMA the currency pair does not cease to tend upwards.
Given that NZD/USD is currently trading above the monthly pivot point and the 55-day SMA, there is a possibility that the currency pair will be able to advance up to the next monthly resistance at 0.8472.
Following a confirmation of a new down-trend resistance line at 1.0527, which is likely to act as a cap until the end of this year, the U.S.
Although AUD/USD opened this week with a fairly large (30-pip wide) bullish gap and most of the daily indicators are bearish, the Aussie remains buoyant.
The bullish momentum the currency pair gained last week has been completely nullified today by the resistance at 135.64/50, which is created by the November high and the monthly R1.
The currency pair failed to climb over the 100-day SMA and the monthly R1 last Friday.
USD/JPY is currently trading just below the strong resistance at 100.88/40, created by the monthly R2 and the September high.
Despite the proximity of the exchange rate to the major falling resistance line, the British Pound is gaining value against the greenback.
Even though the long-term bias with respect to the currency pair remains bearish, for the time being EUR/USD does not seem to be willing to descend beneath one of the key supports at 1.3451/23.
Pair did not manage to advance above the weekly R1 yesterday, but seems to be aiming at it once again.
Pair failed to consolidate above the downtrend resistance (connecting July and September highs) as it failed at weekly and monthly R1.
Pair spent last four days testing and bouncing off the 100-day SMA.
Pair continues to appreciate after a bounce from the 55-day SMA.
USD/CHF quickly covered the distance between 0.9130/28 and 0.9204/0.9179 yesterday, but today appears to be having difficulties at the resistance that is formed by the weekly PP, monthly R1 and 100-day SMA.
USD/JPY extended its bullish run by surpassing the weekly R1 at 99.87.
Yesterday the Cable ran into a dense resistance zone that includes the monthly pivot point and 20 and 55-day SMAs.
As expected, EUR/USD stumbled ahead of the resistance at 1.3497 and plunged 50 pips before finding support at the area formed by the August high, 100-day SMA and the monthly S1.
Pair peaked to weekly R1 at 0.833, but failed to consolidate there.
After failing to consolidate above the downtrend resistance (connecting July and August highs) pair received a bullish impetus 20-day SMA and has peaked above the mentioned downtrend.
Pair has spend last three days bouncing off and testing 100-day SMA.
After the initial failure to consolidate above the 20-day SMA, pair managed to do so after receiving a push from 55-day SMA.
While neither the monthly R1 nor the 100-day SMA have been able to underpin the pair lately, USD/CHF has just started to show signs of recovery at the June low.