The Cable has already closed the downside gap, but even so it continues to move North.
EUR/USD stayed largely unchanged yesterday near 1.32, even though the currency pair opened this week with a large 40-pip downside gap and therefore is likely to close it before testing 1.31.
The New Zealand Dollar dipped below the monthly S1 at 0.8367 today, after the pair declined for a second consecutive week.
After posting gains last week the U.S. Dollar slipped towards the weekly PP at 1.944 today; however, later it managed to recover around the opening level (1.0970).
The pair started the week with an slight advance above the 0.93 level, while last week the Aussie fell as low as 0.9239.
The Europe's shared currency has started the week with a drop below the weekly PP at 137.45, after EUR/JPY approached the 138 level last week.
USD/CHF is forcing its way through the major supply area at 0.9176/56 at the moment.
USD/JPY started this week above last quarter's high, meaning the overall risks are skewed to the upside.
Given a downside gap there could emerge a small bullish correction before the sell-off (since the beginning of July) resumes.
The U.S. Dollar strengthened relative to its counterparts over the weekend.
This week the pair has declined towards June low at 0.8403, after gaining slightly in the week ending August 15th.
USD/CAD strengthened above the 1.09 level this week and now it is trading above the 200-day SMA; although, for now it has not managed to consolidate closer to the 1.10 mark.
The Australian Dollar strengthened its positions above the 0.93 level, as the currency continued to appreciate higher.
This week has been good for the Europe's shared currency, as it successfully gained against the Japanese currency.
Although the resistance at 0.91 is no longer in the way, now it is 2014 high that is forcing USD/CHF to take a step back.
The U.S. Dollar is getting closer to the last quarter's peak, which is reinforced by the monthly R2 level, and it may prove to be difficult to break, even though most monthly indicators are presently bullish.
The rate of British Pound's depreciation relative to the Dollar decelerated ahead of the support at 1.6550.
After three days of losses EUR/USD has finally found support at 1.3250, represented by the monthly S1 and weekly S3.
NZD/USD is trading around the monthly S1 and weekly S2 at 0.8367/62, after reaching this level a day earlier. Most likely, the pair's decline will be stopped, if the Kiwi consolidates around the current trading levels.
The Greenback slipped below the weekly R1 at 1.0961 today, after reaching towards the major level at 1.10. The question, whether the pair is ready to break the 1.10 mark in the near term, remains wide open.
The Australian Dollar plummeted towards the recent low at 0.9240 today; however, the currency bounced back closer to the weekly PP at 0.9299 later today.
The Euro extended its bullish wave that started on 13 of August and since then the EUR/JPY cross has gained more than 100 pips.
The resistance at 0.91 had been finally broken, meaning there are now no obstacles for USD/CHF to touch 0.9156.
Since the July peak is now out of the way, just as the monthly R1, there is only the 2014 Q2 high at 104.12 seen capable of preventing a re-test of 105.44—this year's highest point.