The Europe's shared currency continues to trade around the major level at 137, after yesterday's drop from the 55 and 100-day SMAs at 137.76/85.
Right now USD/CHF is supported by the weekly S1. And if the things stay as they are, namely 0.9550 remains intact, the pair should be able to climb over the weekly PP at 0.9617.
Despite the currency pair facing a number of supports yesterday, it nonetheless closed below the up-trend at 108.50, meaning the lower edge of the trading range in the medium term is rather 108.
After 1.61 played an important role in evolution of the GBP/USD in September, it is now acting as a ceiling for the price.
EUR/USD is currently trading just beneath the two-month down-trend at 1.2660, meaning the risks are heavily skewed towards a sell-off.
NZD/USD has strengthened its positions above the 0.78 level since yesterday, with a test of the weekly R1 at 0.7869.
The pair is hovering slightly above the weekly S1 at 1.1132, after the yesterday's slump below the 1.12 mark.
AUD/USD has extended its yesterday's gains, as the pair is challenging the major level at 0.88 at the moment.
Today has proved what we stated yesterday—the traders should not rely on the 137 level as a reliable support.
After a test of the monthly R1 the selling pressure forced the U.S. Dollar to retreat behind the weekly PP, even though the near-term technical studies favoured the currency.
As it turned out, USD/JPY is still in a consolidation phase, since the pair failed to cross the 110 mark and approach the 2008's maximum.
Despite strong downward momentum the Cable exhibited last Friday, its attempt to break the support at 1.5976/60, represented by the monthly S1 and a lower Bollinger band, did not succeed.
The currency pair has found a strong support zone near 1.25 and retreated back to the negatively-sloped trend-line at 1.2660, which has been keeping the bearish tendency intact for the past two months.
The NZD/USD cross has been on a down-trend lately and last week was not a exception; however, the pair managed to gain for two days out of five.
The U.S. Dollar has depreciated towards the weekly PP at 1.1202, after USD/CAD traded just 9 pips shy of this year's high on Friday.
Even though it seemed that the Aussie might recover against the Greenback at the beginning of the last week that did not happen, as the pair declined on Friday.
The Europe's shared currency touched the major level at 137, after dropping below the 138 mark last week.
Although the trading range of USD/CHF has recently narrowed, while the Greenback has been appreciating, which usually portends a reversal (as a rising wedge), the fundamentals favoured the U.S. currency and it jumped higher.
The U.S. Dollar is poised for even more gains against the Yen—the technical indicators on the daily and weekly time-frames are bullish and the pair has recently bottomed out at 108.
The currency pair effortlessly pierced through this year's low last Friday and found support only at the monthly S1.
EUR/USD remains heavy and keeps sinking deeper.
NZD/USD fluctuated in the range from 0.77 to 0.79 this week and at the week's end it has dropped below the 0.78 mark.
The USD/CAD cross has managed to climb even higher, despite already high trading levels, on the significant performance of the U.S. Dollar.
Until today the pair performed well, the Aussie even touched the 0.88 mark and started to show some bullish signs.