Absence of bearish impetus made the price bounce from a 1.3043 level, where the 55-day, 200-day SMAs and monthly R1 level merge into the major support.
Last few trading sessions were unsuccessful for the New Zealand Dollar, as the value against the U.S. Dollar sharply dropped.
The loonie took a brake today, as the pair advanced significantly in the previous session. USD/CAD jumped from the weekly PP at 1.0165 to the Bollinger band at 1.0227.
The Aussie executed a huge drop yesterday, as the price decreased from a 1.05 level, breached the 55-day SMA at 1.0355 and was stopped only by the Bollinger band at 1.0327.
EUR/JPY pair recovered bullish sentiments today, as the price increased from the weekly S2 at 125.85 to the monthly R2 at 128.45.
Today USD/CHF pair is unchanged at the 100-day SMA and the weekly PP at 0.9299 after two bullish sessions.
After a noticeable drop yesterday, USD/JPY slipped from a 98.50 level and reached the weekly S2 at 96.97, today the pair is influenced by bullish sentiments, as the price gains and is already close to the weekly S1 at 97.71.
The Cable shows positive performance in the morning of session, as the price gently appreciates towards the weekly PP at 1.5335, following a spike down.
The major currency pair moves according to support levels in recent trading sessions, as the market experiences an absence of important macro news.
The New Zealand Dollar sharply depreciates relative to the U.S. Dollar and maintains a strong correlation with other Oceania's currencies.
USD/CAD demonstrates strong bullish sentiments today, as the pair moves straight to north without any consideration of resistance levels.
The Aussie is under strong bearish sentiments, as this currency pair is considered as a risky asset and investors are currently quickly leaving such type of securities.
EUR/JPY was moved by the data from China. As GDP figures were disappointing, investors were encouraged to purchase haven currencies, such as the Japanese Yen.
Data from China created negative sentiments in the market and traders became more risk averse, meaning that the major currency pair continues to decrease from a previous week high at 1.3138.
The beginning of a week is negative for riskier currencies.
USD/JPY is affected by reduced risk appetite in the market, as traders are more keen to purchase safer assets, such as the Japanese Yen.
USD/CHF recovers bullish sentiments, as the price appreciates from the monthly S2 level at 0.9257.
In the last trading session of the current week the kiwi also experiences bearish sentiments and executes a counter-move for a recent weeks' upside trend.
USD/CAD is behaving similarly to other pairs and follows an opposite direction compared to previous days' performance.
The Aussie is finally unable to carry on bullish sentiments further, as the price decreases from the weekly R2 at 1.0548 today.
EUR/JPY pair fails to proceed an up-side movement, as today the price reverses and demonstrates bearish sentiments.
USD/JPY continues to consolidate, being unable to leave the vicinity of the monthly R2 at 98.73 that constantly pulls the price back after the surges.
While daily technical started to give a positive outlook, weekly bearish signals became even stronger.
Despite the presence of formidable resistance levels and signals of technical indicators, EUR/USD remains on a bullish path, as it has confidently pared the recent losses.