The kiwi is traded as a reflection of the Australian Dollar, thus today it is dominated by bearish sentiments as well. NZD/USD reached out for a 0.82 level at the beginning of session, but was pushed lower by bears.
The Canadian Dollar depreciates further, as USD/CAD continues to be driven by bullish incentives.
AUD/USD is under bearish pressure today, as the price slides noticeably from the weekly pivot point at 0.9825 towards a recent low at 0.9710.
The pair is traded slightly above yesterday's high, as it gains from the weekly pivot point at 131.82. EUR/JPY remains in the upper part of the Bollinger band, above the major SMAs.
USD/CHF has already dropped 100 pips from a Friday's peak, when it reached a 0.9761 level.
USD/JPY pair is in the middle of a battle between bulls and bears, since the price has been trading flat past two weeks.
GBP/USD strengthened yesterday, as the exchange rate increased from the monthly S1 at 1.5191 to the weekly pivot point at 1.5340.
The common European currency recovers, as the price breached the monthly S1 level at 1.2875 and weekly pivot point at 1.2885 yesterday.
The South Pacific currencies maintain a strong correlation and both appreciate today. The kiwi stepped higher from a 0.81 level and moves towards the weekly PP level at 0.8161.
The loonie advanced so rapidly that the exchange rate exceeded the upper Bollinger band by 70 pips for a moment on Friday's trading session.
The Aussie faces huge bearish sentiments in recent weeks, as the pair almost touched 0.97.
EUR/JPY is traded in a narrow range around a 132.00 benchmark for almost two weeks.
USD/CHF is under strong bullish sentiments, as the pair advanced sharply previous week, from the 200-day SMA at 0.93333 to a 0.9750 level during last trading session.
USD/JPY eases its appreciation pace as it gets closer to a 103 level. Seems that this level contains rather strong supply and a lot of traders are ready to sell the pair there, thus the price advances so slowly.
The Cable is led by bullish sentiments on Monday morning, as the pair attempts to get back above the monthly S1 at 1.5191.
After two weeks of depreciation, the single European currency takes a break, as its price jumped from a 1.28 benchmark on Monday.
NZD/USD depreciates further and it does not seem it could step down anytime soon.
Pair appreciated by more than 120 pips today after receiving a bullish impetus from 100-day SMA yesterday.
In the period of last 7 days, on any given day stayed in 120 pips range.
After some initial resistance pair managed to breach 0.9738. technicals do not give strong clear indications about further development.
"The broad tone of data should show that the U.S. economy is holding up much better than the rest of the world and that would lend more durable support for the U.S. dollar."- Bank of Singapore (based on Reuters)Pair's OutlookFor now resistance at 0.9662 manages to contain USD/CHF, but the bullish momentum seems to be preserved, therefore the rally is
This week USD/JPY was sidelined, presumably because of bulls' unwillingness to enhance their exposure to the U.S. Dollar, as overhead lies the rising resistance line at 103.47/19.
A battle between the bulls and bears at 1.5240/33 has not yet revealed a victor; however, given that a March-April recovery proved to be unsustainable, the Cable should be inclined to hunt for lower levels, as continuation of the down-trend started at the very beginning of this year.
It looks like 1.2874/46 will be unable to withstand bearish pressure and thus will give in, endangering a more reliable support at 1.2772/45.