Pair dipped to 200-day SMA where it received a bullish impetus which helped it to close with minimal losses slightly above monthly S2 yesterday and allowed it to test 100-day SMA earlier today.
Pair has been trying to breach 1.03 for few days now, but every time has rebounded to 1.025 area.
Pair received a bullish impetus from 1.018 yesterday an managed to inch up to 1.029, but weekly PP/20-day SMA were too tough of a challenge and pair is back at monthly S2.
Past 3 days lets to believe that pair might be range bound (118.8-121.8) and for the time being it seems that such situation might continue all the way till the end of this week.
The currency couple has declined back below the falling trend-line, closing beneath 0.9294.
USD/JPY has travelled as low as 91.12 until it hit a sufficiently strong support area capable of negating the bearish impetus.
Even though the major support line has been breached, the Cable is reluctant to approach 1.4962/44, on the way to which there are no serious obstacles spotted.
As anticipated, the currency pair has stepped back from the falling support line at 1.3044.
It seems that pair is somewhat stabilizing after a 200 pip dip in last few days.
Pairs 10 day rally was interrupted yesterday when it touched 1.03 (weekly R1).
Pair continued to depreciate after receiving a bearish impetus from 20-day SMA at 1.032 a few days ago.
Pair is continuing to depreciate after a 650 pip dip yesterday.
USD/CHF has broken though the upper boundary of the falling channel, which was also reinforced by the monthly R1, and re-tested it yesterday, implying that the rally is likely to emerge.
The Australian Dollar does not show any bullish momentum to breach the 20-day SMA and get back to a 1.04 area, where the major SMAs intersect.
The pair continues to trim the recent gains and will hardly encounter any notable support levels until 90.57, the current location of the 55-day SMA and 23.60% Fibonacci retracement from a move started on Sep 28 in 2012.
The currency pair has confirmed its intentions to decline, being that the resistance area at 1.5264/26 was confirmed as a likely ceiling in the nearest future.
A down-trend support line, which has been breached on Jan 10, but before that remained intact since May of 2010, has proven to retain topicality to the market participants, delaying development of a dip.
Yesterday the pair attempted to breach the support line at 83.50 and was successful.
USD/CAD pair reached the monthly R2 level at 1.0246 yesterday and even slightly exceeded it.
EUR/JPY plummeted heavily yesterday, as the price slipped from the 20-day SMA at 124.43 and reached the 55-day SMA at 120.49.
USD/CHF pair is locked into a channel just above the monthly R1 level at 0.9295.
USD/JPY pair exhibits radical changes in bears and bulls equilibrium.
The Cable filled the weekend's gap and attempts to continue the appreciation from a two-and-a-half year low.
The major currency pair continues to depreciate, as today the price dropped beneath the weekly S1 level at 1.3079.