USD/CAD has extended its advance and at the moment it is trading around weekly R3 at 1.1262.
Pair failed to consolidate above 91 cent after reaching 2014 high yesterday and plummeted below 90 cent mark.
As expected pair continues to show no bias and trades sideways.
USD/CHF has finally reached the upper edge of the falling wedge, meaning it is now close to exiting the pattern and commencing a robust long-term recovery.
As the U.S. Dollar strengthened across the board, the resistance near 102 failed to contain the pair and thereby opened a path towards 103.01/102.78—the monthly R1 and the 100-day SMA.
Being that GBP/USD has finally left the boundaries implied by the rising wedge pattern, which was originated in the first half of 2013, there is a strong case for a strong sell-off.
EUR/USD did not manage to sustain the rally and plunged down to the up-trend support line that has been in force since the beginning of February.
After yesterday's advance the pair has little changed and it is trading around weekly R1 at 0.8614.
USD/CAD has gained yesterday and it traded near weekly R1 at the close; moreover, it has continued to appreciate today and it has reached February's high and monthly R1 at 1.1192/97.
Pair extended it's gains, pushed the 2014 high few pips higher, but returned till 91 cent mark.
"Right now we are more inclined to treat this as intra-day noise. As much as we do think geopolitics should be a bigger euro negative and bigger negative on Europe as exposures to Russia and Ukraine are much bigger, we don't think the market is focusing on that. We think the market is focusing on the lack of escalation in
Even though the monthly R1 level has been already breached, EUR/USD still struggles to gain bullish momentum.
Despite the weekly and monthly technical indicators favouring a recovery, the Cable is currently testing a cluster of supports between 1.66 and 1.6550.
Yesterday USD/JPY erased all of the gains made this Monday, thereby proving that the supply area at 102.17/00 is rather tough.
USD/CHF stays below the weekly pivot point despite several attempts to breach it, whereas initially we were expecting a test of the support at 0.87 to lead to a swift rally towards the down-trend at 0.88 and a subsequent break-out to the upside.
"People are more comfortable trading the Australian domestic story with the event risk from China and Crimea backing away a little bit." - ANZ Bank New Zealand (based on the New Zealand Herald)Pair's OutlookOnce again the Kiwi has started the week well as it has advanced against the greenback and reached new 2014 high today. It breached a major resistance level
At the end of last trading day USD/CAD declined and broke the monthly PP at 1.1053, today we have seen further retreat as it slid under weekly S1 at 1.1041.
As expected, pair continued it's rally, tested resistance around 91 cent mark and, seemingly, successfully consolidated above it.
Pair failed to consolidate above weekly PP and dipped below 141 JPY today.
Even though GBP/USD seems to be well-supported, having a long-term up-trend, monthly pivot point and 55-day SMA as guarantors of bullish outlook, it does not appear to be willing to advance north.
The bullish impetus USD/JPY received a day earlier proved to be insufficient to result in a breach the monthly PP and the 38.2% Fibo.
Although it took EUR/USD a considerable amount of time and effort, the currency pair has finally risen above the monthly R1 level.
For the time being the support at 0.87, consisting of the major down-trend and the monthly S1, fails to cause the intended effect, namely rapid appreciation of the U.S. Dollar.
Last week NZD/USD advanced and reached new high in year 2014 at 0.8605; however, after reaching this level the pair bounced back to trade above monthly R1 at 0.8518.