NZD/USD fell through the 55-day simple moving average and the pair is currently testing the down-trend support at 0.7828, which could initiate a short-squeeze.
Using a bearish trend-line at 1.0260 as a springboard, the currency pair managed to balloon up to the monthly pivot point level at 1.0379, where the 55-day SMA resides as well.
After showing a little bit of hesitation to carry on with the decline near the weekly S3 at 0.8959, AUD/USD is still grinding lower along the down-trend support line that was breached on Jul 16 but is nevertheless anticipated to remain topical in the medium term.
Yesterday EUR/JPY soared above the weekly pivot point at 130.95, retaining the strong bullish momentum that is expected to push the price even higher.
Pair appreciated 100 pips yesterday and seems to be consolidating above the 200-day SMA and aiming at 55 and 100-day SMAs.
Pair is continuing to appreciate after receiving a bullish impetus from the Fibo 38.2% (end of May to mid of June move) yesterday.
Pair has been depreciating since Monday, but is showing initial signs of a short term recovery.
After a rather volatile trading session pair closed only 30 pips above its opening price few days ago.
Apparently, 0.7952/36 will be unable to stop kiwi's depreciation.
After a volatile session yesterday USD/CAD is still trying to get a foothold above the zone at 1.0295/86, which is needed for the pair to rechallenge the closest resistance at 1.0339/36, although a serious test of the upside momentum is going to be performed at 1.0447—2012 high.
The last three days the Australian Dollar has been sharply depreciating.
At the moment the currency pair is fluctuating around a new monthly pivot point at 130.30, but at the same time showing willingness to climb over the nearest weekly PP at 130.95, which is not supposed to contain bullish potential of EUR/JPY.
Pair had a rather volatile session yesterday. It traded in 140 pip range (between weekly R1 and S1), but closed only 30 pips above the opening price.
Pair has hovered 260 pips lower after receiving a bearish impetus from Fibo 61.8% (mid June to beginning of July move) 4 days ago.
Pair dipped 200 pips in the end of the last week then found support with Fibo 38.2% (end of May to Mid of June move) and then monthly PP and hovered above it for 4 days.
After a comparatively volatile session yesterday (100 pip trading range) pair seems to have stabilized and is wiling to recover all of yesterdays losses
Yesterday USD/CAD has finally overcome a confluence of the weekly pivot point and 100-day SMA at 1.0295/85, confirming its willingness to advance higher despite the daily technical indicators that are largely bearish.
The currency pair continues to put considerable pressure on the support at 129.80/16, but is not expected to violate it, since the area is formed by a number of studies, including the 55 and 100-day SMAs, weekly S1 and the rising trend-line that in turn has already been in force for a full year.
NZD/USD extends its dip, sliding down to the support at 0.7952/32.
As expected, none of the nearest supports were able to halt depreciation of the Australian Dollar, allowing the pair to reach the upper boundary of the bearish channel it has been trading within during April and June, namely 0.8959/05.
Similarly to some other pairs greenback-franc cross is trading in a rather narrow range for the past 5 days.
After a 200 pip dip in the end of the last week, pair found support with monthly PP and has been trading around it for the past 4 days.
Pair received a bearish impetus from the Fibo 61.8% (mid June to beginning of July move) few days ago.
For the past 6 days pair is trading in rather tight range—between monthly R1 and weekly PP.