Just as yesterday or earlier this August USD/CHF's efforts to resume advancement are fruitless—the resistance at 0.91 continues to act as a ceiling and is not letting the pair to re-visit this year's high.
Though the daily technical indicators are no longer bullish like the monthly studies, but are rather mixed, the U.S. Dollar keeps gaining ground against the Yen.
A bullish scenario did not transpire, as the price bounced off the weekly PP and plummeted through some of the major supports (monthly S1 and 200-day SMA) on the back of softer BoE rhetoric.
The currency pair remains trapped between 1.3450 and 1.3350, as neither bulls nor bears are able to push the price in any direction.
The New Zealand's currency is having a one the bigger daily advances today, with the pair approaching the daily PP at 0.8473.
The pair still seems supported around the weekly S1 and 200-day SMA at 1.0922; however, the Greenback has failed to climb higher.
The Aussie gained bullish momentum and climbed above the weekly PP and major level at 0.9297/0.9300, respectively.
The Europe's common currency breached the weekly PP and 20-day SMA at 136.86/137.04 today. At the moment of writing the pair is trading above the major level at 137; nevertheless, to our mind the key resistance level is slightly higher at 137.37.
Yesterday's attempt to break 0.91 did not turn out to be successful.
Although the U.S. Dollar is not as lively as expected after diving to 101.53, the currency is nevertheless grinding higher.
After the Cable approached the 200-day SMA, the currency pair received a strong impetus and covered a portion of the losses made last Friday.
EUR/USD is currently eroding the weekly S1 at 1.3350, a breach of which is expected to lead to a test of the 2013 Q4 low at 1.33.
NZD/USD touched the 0.84 today; however, it bounced back to trade around the long-term up-trend support line at 0.8435.
The U.S. Dollar tested the weekly PP at 1.0954 today, after yesterday the pair slid below this level. We expect the pair to pick up and to breach the weekly PP in the short run; however, in longer period the major level at 1.10 should be broken.
The Australian currency is still looking for a driver as the pair seems stuck above the 0.9250 mark. Possibly the strong support levels (weekly and monthly S1 at 0.9222/19) are scaring away the bearish traders.
The pair prolonged its both—shorter and longer term declines and slipped below the 136.50 level. Meanwhile, EUR/JPY is entering a narrower range of trading, meaning that we might see a break-out.
The currency pair is presently recovering, but it has to gain a foothold above 0.91 to confirm its bullish intentions.
USD/JPY started this week on a strong footing, as it rebounded from the key support last week.
For the time being the monthly S1 level seems to be able to hold the bears.
Behaviour of EUR/USD yesterday confirmed that the bias is to the downside, as the rally from 1.3350 failed to remain intact.
The Greenback continuously trades around June high at 1.0961, which tends to slow down the pair's advance for now.
AUD/USD has little changed today, after last week's fluctuation, when the pair breached the monthly PP at 0.9362 and later dropped below Bollinger Bands at 0.9258.
Last week EUR/JPY dropped below the weekly and monthly S1 at 136.23/135.81 reaching a new 2014 low at 135.72; however, the pair managed to reverse the losses the same day.
Previous week was not any different from the one's before as the pair depreciated below the 200-day SMA at 0.8503 and prolonged its down-trend.