Due to its recent bullishness, NZD/USD is testing the resistance at 0.8080/72 at the moment.
USD/CAD largely ignores the nearby support levels and thus remains on the decline.
If we consider the bearish behaviour of AUD/USD from April until now, its latest pull-back is currently eroding the 23.6% Fibo level.
For the time being this week appears to be strongly positive for the Euro, since the price has already advanced 180 pips.
It seems that the pair's bullishness after the failure at the 50% Fibo (July-August move), has ended as at the moment the pair is testing 100 and 200-day SMAs.
After the prolonged struggle with the 100 JPY, pair managed to breach it.
Pair struggles with the 1.575 resistance area where we have 6 month and recent (relative) high
It seems that bullish momentum from the bounce form the 50% Fibo (July to August move) has worn off as at the moment the pair is struggling with the 23.6% retracement.
Right now it does not seem that the 100-day will be able to prevent the spot price from touching the highs seen in 2009 and 2010.
Despite USD/CAD falling down to the up-trend support line yesterday, which was supposed to reverse the direction, the currency pair is still not willing to commence a recovery and today has reached out for the weekly and monthly S1 at 1.0342.
A test of the monthly R1 resulted in only a shallow dip (25 pips), as the resistance proved to be incapable of containing NZD/USD for long, even though four out of eight technical indicators on a daily chart are giving ‘sell' signals.
Once EUR/JPY had hit the support created by the weekly pivot point and the 20-day SMA at 131.25/07 yesterday, the bulls became active and threw the currency pair above the daunting resistance line in the face of the monthly R1.
Pair's bullishness ended at the 50% Fibo (July-August move), which at first pushed the pair back to 200-day SMA and now to 20 and 55-day SMAs.
100 JPY seems to have capped the pair and is likely to keep it below this psychological level in the nearest future as well.
Pair maintains the bullishness and gained some tempo after moving along the uptrend's support (connects 9th of July and 2nd of August lows).
Pair continues to appreciate after a bounce from the 50% Fibo (July-August move) and at the moment is testing 23.6% retracement.
For the time being the monthly R1 is proving to be a notable obstacle for the currency pair, but is nonetheless likely to give in, allowing AUD/USD to challenge 0.8105/0.8080.
USD/CAD moved even closer to the rising support line that has been in force since May and is the lower boundary of the major up-trend channel.
Following a breach of the monthly R1 AUD/USD seems to have nearly exhausted the bullish momentum that took the price away from the Aug 5 low at 0.8847 and drove it to the 100-day SMA.
Although weekly and monthly studies are persistently giving ‘buy' signals, EUR/JPY is currently unable to surpass the monthly R1 at 132.09 and thus may fell short of expectations.
Thursday's rally seemed rather promising, but 50% retracement (July-August move) sent the pair back to the premises of the 200-day SMA.
Pair has advanced to and failed at 100 JPY 4 times already. It has lost 50 pips already today.
Pair maintains the bullishness and moves along the uptrend's support (connects 9th of July and 2nd of August lows).
Pair finished last week with a bounce from the 50% Fibo (July-August move) and at the moment is testing 38.2% retracement.