NZD/USD has already pulled back to the down-trend line it has recently breached, suggesting that bearishness is about to end and thereby give way to a rise up to 0.8161/49.
A weekly pivot point at 1.0182 turned out to be weak, being unable to stop U.S. Dollar's appreciation.
Seemingly strong AUD/USD's rally from the three-year low is currently being quickly trimmed, as the resistance at 0.9577/57 gained the upper hand in the end, sending the pair back towards 0.9387/71.
At the moment EUR/JPY is combatting with the resistance zone that stretches from 127.08 up to 127.71.
For the second day in a row pair is testing 0.925.
Pair is sitting at the Fibo 38.2% (November, 2012, till May, 2012, move).
Although technicals suggest that pair will continue appreciating it becomes more and more likely that we might see a bearish correction.
Pair is heading towards replicating yesterdays session. Although short term technicals give ideas that weekly PP might send pair testing 1.345 area.
The currency pair appears to have lost its upward momentum after respecting Mar 13 low at 0.8161, as today NZD/USD does not exhibit any activity.
USD/CAD is slowly grinding lower and is anticipated to move in the same direction in the near term.
After a short correction observed last Friday AUD/USD is ready to recommence its advancement en route to 0.9857/25, even though the path is obstructed by an intermediate resistance zone at 0.9736/11.
Last week EUR/JPY, exhibiting strongly bearish sentiments, nearly reached the support at 124.30, which is the monthly S2 level.
After dipping till 0.91 pair has hovered back above 0.92 and at the moment is testing strong resistance around 0.925.
Pair unsuccessfully tested Fibo 38.2% (November, 2012, till May, 2013, move) few times last week and at the moment it seems that pair might gave received a bullish impetus from it.
Short term technicals point at further appreciation of the pair. However, we should pay attention the sell signals given by the RSI and the Stochastic indicators.
Pair started the week rather passively and at the moment is hovering above the weekly PP at 1.330.
Even though the down-trend resistance line has been preserving its intactness for a month, a quick test of 0.7740/16 provided NZD/USD with more than enough bullish impetus to threw the pair above 0.8037/10.
"The strength in the Canadian data of late - the good housing, the good unemployment - have really provided decent support for Canadian dollar. Going forward, I'm not convinced the Canadian dollar's going to be able to hang in there."- Benjamin Reitzes, BMO Capital Markets (based on Reuters)Pair's OutlookThe currency pair is approaching the support at 1.0133/14, it consists of
Already sixth candle in a row is about to close green, as AUD/USD maintains its upward course despite the resistances that stand in the pair's way and despite the fact that daily and weekly indicators are bearish.
The major up-trend line has been just breached, meaning that the outlook has now turned to bearish.
The support at 0.9191 (weekly S1) was able to postpone the decline, but we remain bearish on the pair.
The initial test of 94.71/47, the support area mainly formed by the Feb 11 high, did not lead to an immediate recovery, implying that the bearish momentum is not exhausted and most probably will continue to push the price lower.
Cable's deceleration ahead of 1.5750/41 is a natural development of the rally, being that this level has played a major role throughout the last years.
EUR/USD carries on with its recovery from the April low at 1.2745. At the moment the currency pair is struggling at the rising resistance line, but after a short correction should be able to mount it, as the price did after the dips on May 31 and Jun 7.