On Friday, market research firm Markit showed that its U.K. manufacturing PMI dropped to 52.5 in December missing analysts’ expectations for an increase to 53.6, which pushed GBP/USD sharply lower. Earlier today, the data showed that Markit’s U.K. construction purchasing managers' index dropped to 57.6 in the previous month from a reading of 59.4 in November, which watered down the pair as well. In this way, the exchange rate reached two important support lines. Will they withstand the selling pressure in the coming days?

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Although the Institute of Supply Management showed that its manufacturing purchasing managers' index fell to a five-month low of 55.5 this month, the USD Index (which tracks the U.S. dollar’s value against a basket of other currencies) surged to its highest level since Dec 2005 on expectations that the Federal Reserve will raise interest rates this year. How did this rally affect the short-term picture of currency pairs?

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Earlier today, the greenback moved lower against its Canadian counterpart as lower-than-expected U.S. consumer confidence data continued to weigh. Did this move change anything in the short-term picture of USD/CAD?

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Yesterday, the combination of a stronger greenback and Greek Prime Minister’s commentary (Antonis Samaras said that he will recommend parliamentary elections are held on January 25) pushed EUR/USD lower. Because of these circumstances, the exchange rate broke below the support line and dropped to its lowest level since Jul 2012. Earlier today, the pair extended losses and hit a fresh 2014 low. Will we see a test of the barrier of 1.2100 in the coming days?

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Earlier today, the USD Index moved lower, which translated to an upswing in AUD/USD. As a result, the pair broke above the upper line of the consolidation. Is it enough to trigger further rally?

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