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USD/CHF is trying to bounce. Strong resistance is given at 0.9771 (15/06/2017 high). The pair is likely to head further lower below 0.9421 (03/05/2017). Expected to show renewed bearish pressures.

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours nonetheless a long term bullish bias since the unpeg in January 2015.

USD/JPY is consolidating higher but the trend is clearly negative. Strong support is located at 106.95 (08/09/2017 high). Expected to show further downside pressures.

We favor a long-term bearish bias. Support is now given at 99.02 (10/08/2013 low). A gradual rise towards the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 93.79 (13/06/2013 low).

GBP/USD is trading mixed around 1.3200.. Strong support is given at 1.3023 (06/09/2017 low). Expected to show continued short-term bullish pressures toward resistance at 1.3267 (03/08/2017 high).

The long-term technical pattern is even more negative since the Brexit vote has paved the way for further decline. Long-term support can be found at 1.1841 (07/10/2017 low). Long-term resistance is given around 1.35 and would indicate a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.

EUR/USD lies in a bullish trend. Hourly resistance can be found at 1.2092 (08/09/2017 high) while hourly support lies at 1.1823 (31/08/2017 low). Stronger support is given at a distance at 1.1662 (17/08/2017 low). Expected to show renewed bullish pressures.

In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).

The common European currency continued its decline against the US Dollar, as it was expected on Monday.

On Tuesday morning the pair had already rebounded against the combined support of the medium pattern and the 200-hour SMA near the 1.1940 mark. Due to that reason a surge was expected.

However, the rebound is most likely going to be hindered by the 100-hour SMA until the pair reaches the weekly PP at 1.1999, which will be supported by the 55-hour SMA.

Most likely that combined resistance will force the rate to continue the decline.

The GBP/USD currency pair was characterised by a lack of volatility on Monday. The Pound tried to surpass the monthly R1 at 1.3208, but failed to do so for the second consecutive time. Subsequently, it was pressured down to the 55-hoour SMA which managed to support the rate effectively and return it near the aforementioned monthly R1.

Technical indicators suggest that this level should not be surpassed. Nevertheless, the UK CPI release scheduled at 0830GMT might introduce some changes to this assumption, especially if data turn our to be solid.

By and large, the appreciation that was apparent on Tuesday morning should be followed by a decline in price, setting the 100-hour SMA as a possible bottom target for this session.

In line with expectations, the US Dollar surged against the Yen on Monday, resulting in a 117-pip appreciation within one day. The pair crossed several resistance levels, including the 200-hour SMA at 109.30, and has since showed lack of volatility during this morning. This minor consolidation phase might suggest that bulls have exhausted their upward force and thus give the dominant hand to bears instead.

The upside is guarded by the monthly PP and the upper boundary of a channel down circa 109.80—a level that might be a turning point for the rate. Subsequent direction is expected to be to the downside.

In case no massive events shake the market, the rate might continue its movement sideways for several hours before dashing towards the 100-hour SMA at 108.60.

The bearish scenario came true on Monday for the yellow metal. The bullion's price fell below the 1,330 mark in the second half of the day's trading session.

If one looks at the hourly chart, a marvelous sight appears, as the metal faces no support as low as the 1,312.43 level on Tuesday morning. However, that is not likely going to be the support, which stops the decline of the commodity price.

It is more likely that the bullion will continue in the angle, in which it has been declining for the past few trading sessions, until it reaches the support of the dominant channel up pattern somewhere between 1,315 and 1,320.

The USD/CAD exchange rate rose modestly, as the Canadian property market revealed positive results for the month of August. The Greenback appreciated against the Canadian Dollar by 12 base points to the 1.2118 mark and continued climbing to touch the daily high of 1.2166.

The Canada Mortgage and Housing Corporation reported on Monday that the country's housing starts increased surprisingly to the seasonally adjusted yearly rate of 223K in August, following an upwardly revised figure of 221K registered in the prior month and holding above the 200K unit mark for eight months in succession. The surge was driven by higher multiple building construction, which managed to offset a decrease starts of single detached houses.

The report showing weakened business confidence in Australia triggered a short-lived decrease in AUD/USD. The Aussie depreciated against the Greenback by 0.12% to be seen trading near the 0.8000 level and then retreated to the 0.8013 mark.

The NAB monthly survey revealed that Australian business confidence deteriorated unexpectedly to show the weakest reading of 2017, indicating the biggest concerns surrounding government policy, consumer demand as well as both wages and energy cost pressures. Moreover, the report showed most industries performed well, while retail sectors conditions continued to languish in negative territory. This trend is set to be watched closely to determine further growth trends.