As 100-day SMA yesterday, 200-day SMA today did not provide enough support and pair dipped approximately 100 pips already and is hovering slightly above 1.03 supported by weekly S2.
Pair did not manage to advance far and at the moment is hovering below 127.
Last few trading sessions were very calm and the price fluctuated in a narrow range with a bottom line at 0.9078.
USD/JPY is set to attain a new high, as the price has reached a 94.00 benchmark and peaked at 94.05.
GBP/USD breaches an up-trend, which has a beginning in the last months of 2008.
The major currency pair demonstrates strong bullish sentiments. Yesterday the price slipped down to the weekly S1 level at 1.3469, but just for a short period of time.
The selling has fully set in and is probable to drive the price even lower.
USD/CAD is hesitantly stepping upwards, following a short consolidation phase.
The 100-day SMA was unable to restrain the currency for long and has finally allowed for a dip down to the 200-day SMA at 1.0382, which has a higher chance of preventing additional losses of the Aussie in the future.
Surprisingly, the price did not even have to return back to 123.29/122.86 in order to restore the bullish momentum, but recommenced a recovery soon after hitting a weekly pivot at 124.91.
Last few weeks were really good for the Swiss Franc, as it sharply appreciated and reached a 9-month high.
USD/JPY experienced a down-side correction yesterday, as the price sharply exceeded the upper line of the Bollinger band.
The Cable faces some difficulties to find a direction, as the bottom line is an up-trend line, which starts at the end of 2008 and the upper line is constructed of bearish market sentiments and previous bearish movement's momentum.
EUR/USD depreciates for the second consecutive trading session.
Resistance at 0.8476/63 has once again proved to be impenetrable, even after a formidable surge at the end of the last week and a subsequent bullish gap that has already been closed.
A support area at 0.9961/52 continues to underpin the pair, while the market participants are unwilling to build up exposure to the U.S. Dollar and thereby push the price upwards.
Despite the repeated tries of AUD/USD to push through the 100-day SMA and challenge the 200-day SMA, the currency pair is trading flat, since it has encountered a strong demand around 1.0426/20.
Not only EUR/JPY is preserving an already high pace of recovery, but it also appears to be increasing it as well, having effortlessly pierced through last week's resistances.
Pair dipped 200 pips in the last 3 days of the last week, but managed to recover by 60 until closing at 0.9080 at Friday.
It seems that 92.8, the level pair closed at last week, is unbreachable for the time being.
Pair ended last week with a 200 pip dip to 1.57 and started this week with some gains, but with the current pace it might take a week or two to recover mentioned losses.
After peaking to 1.371 at the end of the last week pair has started the week with a dip suggesting we might see a bearish correction after prolonged appreciation.
As expected, the currency pair has eventually overcome 123.29 and is already getting ready to pierce through 125.06/124.77, which should not hamper the current recovery.
NZD/USD maintains the bullish bias and is currently forcing its way through the resistance at 0.8444/23.