Being that yesterday the currency pair failed to pass through the key resistance at 1.3777, some of the weekly technical indicators turned bearish, meaning that a possibility of a rally is currently decreasing.
For the second day in a row the pair is trading between the 0.8329 and 0.8220.
Bounce from the 20-day SMA was short lived as the pair dipped once again.
Pair seems to have gained momentum as it continues to depreciate and at the moment is testing weekly R2.
Pair took a step back ahead of the monthly and weekly R1, but does not seems to be giving up yet.
Although USD/CHF seems to be well-supported by 0.8851/33 right now, the risks are deemed to be heavily skewed to the downside.
The pair seems to have managed to hang onto the rising support line at 102.70 and is therefore likely to continue ascending towards the nearest important resistance at 104.12/103.68, as suggested by the indicators on the daily and monthly charts.
GBP/USD failed to sustain the recovery, but for now remains underpinned by the support at 1.6415/1.6355, meaning the current dip may not extend down to 1.6206/04.
At the moment EUR/USD is forcing its way through a tough supply area created by the major down-trend resistance and the recent peak.
Pair continued to trail lower today, but received a bullish impetus from the 20-day SMA/August high at 1.0588/66.
Pair failed at monthly and weekly R1 slightly above the 83 cent mark and at the moment has fallen till 82 cent mark while breaching 20-day SMA/weekly PP on the way.
Pair failed to gain momentum after a bounce from the weekly PP yesterday and at the moment is trading below it.
Pair seems to have lost momentum after touching 142 JPY.
While the monthly S2 did not succeed at halting the currency pair, USD/CHF seems to have found support at 0.8856/51.
USD/JPY failed to surpass the local peak (Dec 3) yesterday and as a result slipped down the weekly PP.
Considering that GBP/USD has just overcome a series of important resistances, further appreciation of the Sterling is expected.
EUR/USD continues to move north and is about to challenge the long-term down-trend resistance line that secures bearish on the currency pair outlook.
Pair resumed to appreciate after taking a step back yesterday.
The pair continues to trail lower after reaching new 2013 high last week.
Pair is signalling a possible major recovery after a bounce off the weekly PP.
Pair seems to be forming a 2013 high as it took a step back form it's rally at weekly and monthly R1.
Now, given that one of the important supports gave in, namely the one at 0.8930, there is a good chance USD/CHF will descend through the nearest supports down to 0.8780/53.
USD/JPY continues to trade beneath the former accelerated up-trend support line, but nonetheless preserves strong upward momentum.
After many days of struggle GBP/USD has finally breached the resistance represented by the January high.