Previously we presupposed that there will be sufficient selling pressure between the levels of 0.82 and 0.81 not to let the currency pair to trend higher after bottoming out at 0.7682.
The assumption that the bears gave up in the second part of the last week did not prove to be true.
Apparently, traders over the weekend rethought their attitude towards the Aussie, as a result of which AUD/USD opened notably higher than its last week's close and is testing the monthly R2.
The support at 132.20/09 remains intact for now, but is on the verge on being breached.
Pair started the week significantly below/above any of major resistance/support levels.
Pair started the week noticeably lower than the last weeks closing price.
June high seemed to be causing trouble in the end of the last week, but as we can see pair started the week by forming new high.
Pair started the week above the key level of 1.33 which provide additional bullish impetus.
The kiwi continues to defy the existing resistances and is preserving the bullish tendency it commenced on Sep 1.
The U.S. Dollar seems to have seized losing value a few steps away from the key support area at 1.0285/67 formed by various studies, including the 200-day SMA.
While yesterday AUD/USD was distinctly bullish, today the currency pair lingers at its open price, being buoyed by the 100-day SMA.
The currency pair continues to retreat from 133.81/50.
Pair fails to pick the pace after hitting 23.6% Fibo, but finds solid support with it.
Despite the clear indications about the short and long term strength pair fails to pick up the pace.
Pair has reached new high, but seems to be lacking conviction to advance further.
It seems that bullish momentum has worn off as pair is struggling to consolidate above the 1.33.
NZD/USD closed above 0.8105 yesterday, but currently seems to be experiencing difficulties at the 200-day SMA (0.8150).
Neither the up-trend support line nor a cluster formed by the weekly and monthly S1 levels were able to prevent U.S. Dollar from preserving the bearish tendency started on Sep 3.
Once AUD/USD reached 0.9321 (topical level in 2009 and 2010), the bears decided to act and pushed the price down to the 100-day SMA, though it is still unknown where the rate is going to settle eventually.
The resistance at 133.81/29 did not let EUR/JPY to advance any further yesterday, forcing the pair to pull back to the monthly R1.
"Market tone continued to be upbeat amid a series of strong Chinese data and calming situation on Syria, as oil and gold prices retreated. The worries on Syria have not completely gone away as disagreement remains on the exact terms of the resolution in the United Nations, but Russia's proposal has calmed things down for the time being." - Credit Agricole
Short term RSI and Stochastic and clustering of the 20, 55 and 100-day SMAs suggest that we should see some choppy sessions (in the 99 to 101 JPY zone) in the nearest future.
We cannot say that it happened with ease, but the pair advanced above the June high.
23.6% Fibo (July to August move) caused some difficulties for the pair in the last few days, but at the moment it seems that the rally should continue in the short term.