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Overall, the currency market pulled some important moves throughout the Asian session, something that does not happen very often. For now, the major pairs are sitting near the support or resistance area of the last few weeks, waiting patiently for the London open. Chances are that today the market may attempt to break higher, something that investors have been waiting for quite some time. 

The Euro (Eur/Usd) headed higher throughout the Asian trading hours, extending the gains seen during the last U.S. session. The pair rose as much as 50 pips, something that helped the pair reach TheLFB R1 (1.4120), which at the same time is an important intra-day resistance area. 

The Pound (Gbp/Usd) had a very strong Asian session, gaining almost 100-pips and breaking above TheLFB R1 (1.6615) even from the first few hours of the day. Currently, the pound may be getting ready to test the 1.6650 area, a resistance area that has held since the beginning of June. If the pound breaks higher, it will reach the highest value since October 2008.  

The Aussie (Aud/Usd) rose 40 pips during the first part of the overnight session, reaching TheLFB R1 (0.8120). Moreover, the aussie is currently trading at the highest value touched over the last two weeks of trading, and appears ready to make the final push towards the 0.8250 area. 

The Cad (Usd/Cad) still lacks the strength to pull a decent move on its own. During the Asian session, the cad moved only 25 pips, even though the rest of the major pairs had a relative strong Asian session. Tuesday is the sixth consecutive day in which the cad appears unable to move anywhere from the 1.5500 area. 

The Swissy (Usd/Chf) managed to break below the 20-day moving average during the Asian session, as the pair lost 40 pips. For now, the pair is testing the 1.0800 area, where the pair bottomed the last two days of trading. 

The Yen (Usd/Yen) lost around 30 pips tonight, as the pair bounced off the trend-line that connects the 06.11 and the 06.25 highs. Moreover, on the 4-hour chart, the pair appears to be trading in a descending channel. During the Asian session, a release showed that consumer spending picked up in Japan for the first time in a year. However, the unemployment rate surged to the highest rate observed over the last five years. 

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