USD/CHF is presently well-supported by the monthly R2 at 0.93, meaning there is a high chance the bulls are eventually going to emerge victorious and make the Greenback surpass the recent highs.
Although there was expected a distinct bearish correction at least down to 106 (we should still not rule it out completely), the U.S. Dollar is holding fairly well during the current profit-taking.
Although it looked as if the market respected the new resistance at 1.6250, the supply here turned out to be insufficient to push the Pound back to the monthly S3 at 1.61.
EUR/USD seems to have formed a rising wedge pattern, which further implies depreciation of the European currency, along with the daily and weekly technical studies.
The New Zealand Dollar continues to trade around the monthly S2 at 0.8176; although, it was not able to consolidate above it when the level was breached earlier today.
The failure at 1.11 level on Monday has sent the pair even lower, as it slipped below the weekly PP at 1.1024 today.
This week the AUD/USD currency cross has traded in very narrow range compared to the last week's fluctuation.
After yesterday's unsuccessful attempt to consolidate around the 139 level the pair fell lower to trade slightly above the 138.50 mark.
Though the U.S. Dollar is hesitant to appreciate at the moment, the market is bullish—since May the pair has already covered seven figures.
USD/JPY is presently taking a break to gather strength before conquering 108 and thereby opening a path towards the 2008 high at 110.50.
As GBP/USD has just confirmed the resistance at 1.6250, the Sterling should lose some ground in the nearest future.
The Euro continues to trade flat, being unable neither to break the support at 1.29 nor to decouple from it and challenge some of the nearby resistances.
The New Zealand Dollar is testing the monthly S2 at 0.8176 today, after falling below it on Friday.
Today the U.S. Dollar formed an attack towards the 1.11 level, even though it managed to approach the mark it failed to consolidate above the level.
Even though the Aussie fell to the lowest level since March the current decline has been halted at the 0.90 level for now, as the pair successfully rebounded above the major level.
EUR/JPY failed to consolidate above the 139 mark, after extremely successful week for the Euro bulls, when the pair appreciated more than 300 pips.
USD/CHF continues to consolidate, as the bulls are dormant after a precipitous Sep 4 rally.
The U.S. Dollar is getting close to a significant resistance zone around 108, formed by the weekly R1, monthly R3 and Bollinger band.
The Cable has finally reached 1.6250, after encountering a dense demand area at 1.61.
The bears failed to push through the support at 1.29 (monthly S2), thus allowing a small upward correction to take place last Friday.
The New Zealand's currency cannot find the end of its current retreat, the pair has fallen significant 700 pips from its peak on 10th of July.
The U.S. Dollar has been one of the best performers this week, also against its Canadian counterpart.
The Aussie has been very bearish through this week, the AUD/USD currency cross started the week more than 300 pips higher than it is trading at the moment writing.
The European currency has performed explicitly well against its Japanese peer this week, as the pair has appreciated around 250 pips since Monday opening.