Yesterday's plunge has effortlessly penetrated some of the supports, including 1.3104; however, a combination of 20 and 200-day SMAs with weekly and monthly pivot points did not allow further depreciation of the single currency.
The kiwi depreciates for a second day after touching the weekly R1 level at 0.8587.
Seems that the weekly S2 level is more sustainable as it might be thought from the first sight.
The Australian Dollar is pressed by investors' concern that the global economy is slowing down, pushing traders to take the risk off position.
EUR/JPY pair is on an upside track, as the European Central Bank announced that the key interest rate is cut to a record low.
Since the FOMC did not deliver any concrete decision about the U.S. monetary policy yesterday, the pair takes a break at a random level at 0.9270, where no supports are located.
Even thought the major Asia's currency pair depreciates and has just settled beneath a long term support level at 97.81, USD/JPY bounced to the weekly S1 at 96.98.
The Cable is on a positive track, as country's macro data indicates a positive performance and recovery of the economy.
The common European currency is traded in a narrow range between the Bollinger band at 1.3192 and the weekly R2 at 1.3168.
The New Zealand Dollar maintains a strong correlation with other Oceania currencies and depreciates heavily from the weekly R1 level at 0.8587.
The loonie finally found a reasonable support level, which is the Bollinger band positioned at 1.0059, and reversed the movement north direction.
The Australian Dollar was unable to maintain bears' pressure and the price sharply dropped today.
EUR/JPY pair fluctuates in the lower Bollinger band part between a 127.00 benchmark and the 20-day SMA at 128.85.
Depreciation of the U.S. Dollar relative to the Swiss Franc revs up—the pair dropped from a 0.9373 level to a 0.93 benchmark yesterday.
The bullish trend-line at 97.81 was overcome easily yesterday, being that the price slipped from it sharply towards the Bollinger band and the weekly S1 at 96.98.
Investors continue to buy the Cable, as positive sentiments persist from the GDP data announcement, which indicated the first growth of the economy after a recession.
The major currency pair moves in the line with market expectations regarding economic stimulus from the European Central Bank.
Positive sentiments in the global markets provoke traders to purchase riskier assets with a higher yield.
The Canadian Dollar is getting even stronger today, as the GDP data indicates a faster rate of growth. The pair slipped through the 100-day SMA at 1.0113 to the monthly S1 level at 1.0097.
The Aussie is easing the pace of appreciation in recent days.
Since there are no important macro news and the global situation in the markets remains unchanged, EUR/JPY fluctuates in a narrow channel bounded by the major resistance at 127.73 and the 20-day SMA at 128.89.
As it turned out, the 55-day SMA provided only a temporary relief, failing to stop the dip and then initiate a recovery.
We did not see an immediate rebound from the bullish trend-line at 97.81, casting doubt on its topicality for the market and thereby on its ability to defend the upward tendency of the currency pair.
The supply area the currency pair is entering is already being felt as GBP/USD is moving towards the rising resistance line at 1.5526/21 and appears to have difficulties extending the rally started last week.