Even though EUR/USD went up to the monthly R1 yesterday, the currency pair did not manage to get a foothold above 1.3646 and returned to where it opened the day, namely to the 100-day SMA.
Pair attempted to advance above the 140 JPY, but failed to do so and is back trading slightly below this mark.
Pair resumed it's rally and today has already peaked above the 90 cent mark.
Pair seemingly regained bullish bias, but failed to gain momentum on it and at the moment is consolidating slightly below the 20-day SMA.
Pair resumed a rally which started last week and tested monthly R1 today.
Although the support at 0.8989 was expected to hold, the currency pair nonetheless managed to push through the defences and close beneath it.
After closing the gap and making a short downward correction yesterday, USD/JPY found support in the face of the 100-day SMA and the 38.2% Fibonacci retracement level of the November-December rally.
Even though the support at 1.63 demonstrated its resilience last week, the Cable failed to continue the fragile recovery from it after hitting the 55-day SMA.
While the 55-day SMA did not prove to be capable of stopping EUR/USD's bullish momentum, the monthly R1 at 1.3678 is likely to last longer under the buying pressure.
NZD/USD effortlessly pierced through the 55 and 100-day SMAs last week, but stopped moving upwards once it approached the monthly R1.
Although last Friday USD/CAD plunged down to the monthly PP, the U.S. Dollar managed to recover thereafter and close the week above the key trend-line.
As suggested by the weekly and monthly technical indicators, AUD/USD stalled ahead of the falling resistance line at 0.8950 and started negating recent gains.
As it turned out, the supply circa 139, implied by the 2009 highs in conjunction with the 100-day SMA, was insufficient to prevent further appreciation of the Euro.
As long as the two-month rising trend-line at 0.8988, reinforced by the 55-day SMA, remains intact, the outlook on USD/CHF will stay bullish—the price will be inclined to gravitate towards the long-term moving average at 0.9154.
USD/JPY started the week some distance away from Friday's close, but, being that the gap has already been filled, the currency pair may continue moving forward.
The support near 1.63, composed of the 2012 highs, 100-day SMA and the monthly S1, managed to withstand selling pressure that persisted throughout the previous week.
EUR/USD opened this week below the 100-day SMA, but still seems to be willing to advance further north from here.
Despite the density of the resistance area at 0.8262/29, mainly created by the 55 and 100-day SMAs, the kiwi continues to appreciate relative to its U.S. counterpart.
It seems today USD/CAD is going to fall beneath the up-trend line that has been keeping the price afloat this week.
Right now the currency pair is testing a cluster of resistances between 0.9006 and 0.8975.
After yesterday's rally the currency pair stalled ahead of the resistance at 139.03/138.69, which consists of the 100-day SMA, 2009 highs and the one-month down-trend resistance line.
The support at 0.9038/25, mainly formed by the 100-day SMA and the monthly PP, did not manage to prevent a sell-off.
USD/JPY has finally escaped the boundaries implied by the falling wedge pattern.
GBP/USD continues to trade just above the 2012 highs, as neither bulls nor bears are willing to give up at the moment.