In the wake of GBP/USD challenging the 2009 high, the Sterling is currently ceding ground.
The Euro is slowly but surely moving in the direction of the 55 and 200-day SMA on the back of a weaker greenback.
Despite the 200-day SMA proving to be a fairly reliable support throughout June, USD/CHF closed beneath 0.8936 yesterday.
The New Zealand Dollar appreciated towards the monthly R1 at 0.8704, after yesterday when the currency weakened below this level.
USD/CAD remains bearish and continue to trade at the lowest levels since the beginning of the January.
Today the Aussie recovered some of yesterday's losses and is challenging the weekly PP at 0.9380.
The pair touched the 20-day SMA at 138.84 today, though it still has not managed to consolidate above this level.
Although the 200-day has stayed intact for the past month, constantly defending the positive outlook, the pair is still unable to use it as a springboard and make a foray north, as it did in May.
According to the technical indicators, the downward pressure should soon subside, finally giving USD/JPY freedom to pursue its bullish goals after two consecutive quarters of poor performance.
GBP/USD had a good chance of advancing further north, but the bullish momentum was stopped by 1.7044, the 2009 high, and by a more dovish than expected stance of the BOE.
There are still no consistency among the technical indicators, as they are pointing in different directions on the weekly an monthly time-frames.
As the 200-day SMA stays beneath the spot price, we retain a positive bias towards USD/CHF.
The chances USD/JPY is going to continue its long-term recovery are gradually melting, as the currency pair is slowly but surely eroding the major up-trend line.
Similarly to the situation in EUR/USD, the British Pound also lacks momentum, even though it has crossed 1.70.
Although there are no strong resistance levels until 1.37, which has all the chances to be the pair's next objective, EUR/USD stays glued to the weekly PP and 20-day SMA at 1.3588/82 instead.
Pair is inching up higher, but it seems it's advancement will have to wait as 2014 high is causing noticeable problems for the pair's bulls.
Pair continues to trail lower after a failure slightly below 1.09 mark in the middle of the last week.
Pair showed a strong sell of and immediate recovery last week and is attempting to advance further, but seems to be struggling with 2014 high at 0.9461 which was reached in April.
Pair demonstrated a rather neat rally last week, but at the moment seems to be struggling with 20-day SMA.
USD/CHF was close to violating the support represented by the 200-day SMA last week, but in the end it managed to stay above 0.8938.
Although the 18-month up-trend line continues to keep USD/JPY afloat, the currency couple remains unable to gather enough strength to commence a robust recovery.
Even though the major resistance has just been broken, the Cable remains hesitant to extend the rally.
EUR/USD has nearly reached the 200-day SMA last week, but at the moment it is trading just above the 20-day SMA and weekly PP.
This week has been good for New Zealand Dollar's bulls once again. The Kiwi breached the monthly R1 and major level at 0.8704/00; however, it failed to hold its positions above these levels.