At the second part of yesterday's trading day selling pressure gained momentum and accordingly USD/CAD dropped below the weekly and monthly PP; however, the decline was stopped by the 20-day SMA at 1.1328.
The Australian Dollar failed to consolidate above the 0.85 earlier today, when the currency rose against the US peer.
The 18-nation currency's bulls are actively trying to push the pair above the major level at 148.
"What brought gold back was there are three continents that have to stimulate their economies. We not only saw softness in Europe with the PMIs, we saw softness in Japan."- RBC (based on CNBC)Pair's OutlookThe bullion for immediate delivery climbed 3.8% to hit the daily maximum at $1,221 per ounce on Monday. It seems that daily pivot points were too
"With the effect of the sales tax hike, I don't see real wages rising in the financial year through April."- Mizuho Securities Co. (based on Bloomberg)Pair's OutlookUSD/JPY struggled to remain above 118 level yesterday; however, with a help of the weekly PP and 100/200-period SMAs the US Dollar is still trading above the trend-line. Now the pair is climbing towards
The GBP/USD cross is strongly supported by the 55, 100 and 200-period SMAs around the 1.57 level.
EUR/USD is still trading in a narrow range, which is partly explained by the long-term triangle pattern.
At the moment, the Kiwi seems like it has received a bullishness; however, the pair most likely will not surpass the 55-day SMA at 0.7890.
USD/CAD formed an attack towards this year's high at the beginning of today's trading session; however, unsuccessfully, that leading to the pair's decline below the 1.14 level.
The Australian Dollar opened below last week's closing price, as the negative bias continue to dominate the pair.
EUR/JPY is trading closer to the major level at 148, after relatively calm last week; moreover, the common currency is underpinned above the 147 mark.
The bullion for immediate delivery dropped 2.1% to $1,142.88 an ounce in the end of the trading session on Friday, reaching the lowest level since November 7, when it fetched four-year low of $1,132.16.
USD/JPY seems supported above the 118 level, as the weekly PP and 55, 100 and 200-period SMAs are located just above the mark.
After posting the first weekly gains in more than a month, the Pound seems unlikely to hold its bullishness.
EUR/USD dropped in its value on Friday of the last week. The pair consolidated further below the 1.25 mark and reaches the weekly pivot point at 1.2447.
Frankly, the pair did not make any major move through the week, while the biggest decline was on Tuesday when the pair dropped below the weekly S1 at 0.7805.
The long awaited bullish impetus has been received and that pushed the pair towards the 1.14 mark through yesterday and today.
The pair continues to trade in bearish manner, the Aussie has lost more than 150 pips of its value against its US counterpart.
The Europe's shared currency has found some bullish impetus and now it is moving towards the 148 level and most likely a weekly gain, after trading flat for three straight days.
USD/CHF bounced from the major level at 0.96 and inched higher on Thursday, but it is still capped by a resistance at 0.9645, represented by weekly pivot point.
After a short-term recovery of the Japanese yen, this currency fell again, as the USD/JPY currency pair returned back to hover above the 2007 Oct high around 118.
It seems that a resistance area, represented by monthly S1 and weekly R2 around 1.5810 was strong enough to push the Cable to the south on Thursday.
The EUR/USD went down to the levels seen on Tuesday of this week, as the weekly R1 at 1.2532 was able to push the shared currency to the downside.
Similarly to other currency pair's NZD/USD has not fluctuated much today, mainly due to the tranquil volatility, which reached the lowest level in a month.