Even though most of the technical indicators continue to give "buy" signals, the pair seems hesitant to approach 1.0577/59, which has repeatedly repelled AUD/USD in the past.
A rally from 115.00, commenced on Jan 9, appears to be overextended and requires a bearish correction prior to its continuation.
Being that the area between the spot price and the 200-day SMA is only obstructed by a Bollinger line at 0.9385, USD/CHF is probable to cover this distance relatively easy and quick, once the surge is commenced.
Lately USD/JPY has been increasing its pace of advancement, but bullish candles started to alternate with considerably deeper troughs than before.
A recent sell-off in GBP/USD resulted in a breach of the 200-day SMA, meaning that the currency pair is well-positioned to continue its decline further.
Demand failed to overthrow supply at 1.3395/73, implying that the pair currently lacks bullish momentum in order to sustain its steep appreciation.
Following a bullish impetus from weekly PP and monthly R1, received after a bearish correction, the pair is struggling to advance above monthly R2 at 120.4.
Pair rushed by more than 80 pips after receiving a bullish impetus from weekly PP at 0.985 area today.
Pair took a second consecutive 60 pip dive after a week of choppy sessions in 1.058-1.052 area.
Pair has declined marginally today after a few rather volatile sessions yesterday and the day before which suggest that it has found it direction and at the moment it seems that recent peak could be perceived as a second top for Double Top pattern.
USD/CHF pair has demonstrated a strong bullish impetus recently, as the price has overcome the 55-day and 100-day SMAs in one day.
USD/JPY pair increases further by peaking at a new high.
The Cable was fluctuating in a wide range yesterday, as the price increased well above the weekly S1 at 1.6017, however, the bearish impetus still had more power and pushed the pair sharply down, closing a session with a negative performance and further slipping along the Bollinger line.
The major currency pair continues a bullish movement and is already breaching the latest high at 1.3393.
NZD/USD demonstrates a complete absence of bias towards any of the sides.
USD/CAD has gently touched the up-trend resistance at 0.9881/80 and is challenging support at 0.9848/37 at the moment, which in turn guards some of the lower lines, namely 0.9811 and 0.9797/79.
AUD/USD has made a quick run down to 1.0479/59 today, but the price was successfully repelled and sent back above 1.0534/33, thus preserving a chance of penetrating a zone that stretches from 1.0579 up to 1.0624, though this particular area has remained unbroken since mid-March.
It did not take long for bulls to recover and finally recommence pushing the price upwards.
After choppy session yesterday which raised some doubts that we might see a bearish correction to 0.925 pair found support at 100 day SMA at 0.93 and at the moment is testing monthly R1 at 0.9325.
Pair managed to slip slightly below 88 JPY mark, but at the moment is stuck between weekly PP and monthly R1 after receiving a bullish impetus from weekly S1/20-day SMA at 86.65.
Pair has stabilized after a 100 pip dip yesterday as it received some support from Bollinger band.
It seems that pair has received a bullish impetus and is planning to resume its last weeks rally after a bearish correction which took place in the first part of this week.
Similarly to AUD/USD, this particular currency pair is trading sideways and does not demonstrate any strong signals for now.
Even though the up-trend support has been eroded, the pair hesitates to extend the dip and is now re-testing the bullish trend-line from below.