NZD/USD rebounded from the weekly S1 level at 0.8005, which was reached during London trading session and was a new low in the on-going downside movement.
Seems that the Canadian Dollar attempts to recover its positions, as today the price reversed from the weekly R1 level at 1.0370 and returned into the Bollinger band range.
The Australian Dollar experiences huge capital outflow, as investors are afraid of a potential economic slowdown in the country, which might be seen through intensive money withdrawal from the economy.
After an upside spike yesterday, when the pair reached the upper Bollinger band and weekly R2 level at 133.80, today the Euro sharply depreciates through the weekly pivot point at 131.82 and currently trades at the 20-day SMA and weekly S1 at 131.00.
An accelerated resistance line that is tangent to lows posted during Feb-Mar period appears to be of great importance to traders, as it has been slowing down the recent rally.
Following a few tests of the rising resistance line at 103.97/60 the currency pair has finally started to decline, a natural step of the channel up pattern's development.
Even though the Cable initially seemed to have found support at 1.5239/33, it has effortlessly pierced through a number of notable levels thereafter.
The latest recovery did not last for long, as it was discontinued at a resistance area 1.2986/74, which is formed by the 20 and 55-day SMAs and weekly R1 level.
The New Zealand Dollar depreciates together with the Australian Dollar, but not as dramatically.
U.S. Dollar - Canadian Dollar currency pair made a new high—1.0338, during New York trading session today.
The Aussie is driven by powerful bears, who took total control of the pair and push it even lower.
EUR/JPY experiences its best performance in few recent weeks today, as the price steps from a 132.00 benchmark to the weekly R2 at 133.69.
USD/CHF consolidates in a channel bounded by a 0.97 benchmark and the monthly R2 level at 0.9663.
USD/JPY remains unchanged, since the price fluctuates around the weekly pivot point level.
The British Pound weakened heavily yesterday, as its price reversed around the weekly pivot point at 1.5240 and slipped along the Bollinger band.
The major currency pair appreciated further in yesterday's trading session, as the exchange rate settled above a 1.2900 benchmark.
The kiwi is traded as a reflection of the Australian Dollar, thus today it is dominated by bearish sentiments as well. NZD/USD reached out for a 0.82 level at the beginning of session, but was pushed lower by bears.
The Canadian Dollar depreciates further, as USD/CAD continues to be driven by bullish incentives.
AUD/USD is under bearish pressure today, as the price slides noticeably from the weekly pivot point at 0.9825 towards a recent low at 0.9710.
The pair is traded slightly above yesterday's high, as it gains from the weekly pivot point at 131.82. EUR/JPY remains in the upper part of the Bollinger band, above the major SMAs.
USD/CHF has already dropped 100 pips from a Friday's peak, when it reached a 0.9761 level.
USD/JPY pair is in the middle of a battle between bulls and bears, since the price has been trading flat past two weeks.
GBP/USD strengthened yesterday, as the exchange rate increased from the monthly S1 at 1.5191 to the weekly pivot point at 1.5340.
The common European currency recovers, as the price breached the monthly S1 level at 1.2875 and weekly pivot point at 1.2885 yesterday.