The market participants have been largely selling the common currency since Aug 28, shortly after EUR/USD had hit June high.
There is no trace left from yesterday's hesitation—NZD/USD has jumped through a number of levels and now seems to be able to form a base above the monthly pivot point at 0.7868, which it subsequently might use as a springboard for a rally towards the July high at 0.8105.
USD/CAD is failing to restart the rally that was initiated in mid-August and is therefore at risk of sliding through the nearest supports, such as the weekly PP and S1, down to the monthly pivot point.
Despite the presence of the falling resistance line the Aussie was not discouraged and kept on appreciating, leading to a rally that now endangers not only intactness of 0.9040, but also intactness of the 55-day SMA at 0.9091 and the monthly R1 at 0.9141.
At the moment EUR/JPY is pulling back after a sharp rally staged two days ago that pierced through the tough resistance.
Pair did not manage to consolidate above the weekly R1 yesterday and continues to trade on the 200-day SMA.
Pair seems to have slowed down just before the 100 JPY.
Despite the setback at weekly R1 pair managed to finish yesterday's session with gains.
Pair continued to depreciate yesterday, but found support with the 100 and 200-day SMAs and recovered half of then losses.
The weekly pivot point at 0.7786 fell victim to the short-squeeze yesterday, meaning that NZD/USD is able to advance farther, in the direction of more serious resistances, such as the 55-day SMA at 0.7896 or the 100-day SMA at 0.7940.
Although at the moment of writing the spot price is nearly 40 pips below today's open, the currency pair retains its bullish potential, especially considering that five out of eight daily indicators are giving ‘buy' signals.
As it turned out, the dense area between the weekly PP at 130.51 and the monthly PP at 130.03 did not manage to contain the currency pair for more than a week, allowing EUR/JPY to cover more than a half of the distance to the next resistance zone at 132.23/131.72 yesterday.
Previously bearish signals provided by the technical indicators have now turned neutral, since AUD/USD refuses to move towards the lower boundary of the declining channel, but instead is recovering to the falling trend-line it has just bounced off.
Pair advanced above the 55-day SAM without much of complications and a the moment is trading at 200-day SMA.
Pair clearly broke out of the downtrend (since 7th of July) and at the moment is aiming at major level at 100 JPY.
Pair demonstrated strong bullishness yesterday, but did not manage to advance above weekly R1.
Pair remains noticeably bearish—55-day SMA and Fibo 38.2% (9th of July to 20th of August move) did not manage to stop the pair and at the moment it is approaching 100 and 200-day SMAs.
NZD/USD is distancing itself from the major up-trend line at 0.7754, decreasing the probability of the weekly PP at 0.7786 staying intact today.
At the moment USD/CAD is consolidating above the support line at 1.0521 after a sharp rally staged last Thursday.
Although last week EUR/JPY stayed below the area created by the monthly pivot and the simple moving averages for 20, 55 and 100 periods, today it is making yet another attempt to rise and until now is successful.
A failure of AUD/USD to fall beneath 0.89 evoked a rally that is currently probing a combination of the weekly and monthly pivot points.
Pair continues to show bullish directional signals and is aiming at 55-day SMA at the moment.
Pair started the week slightly below it, but at the moment is trading exactly on the 55-day SMA/downtrend resistance (connecting 7th of July and 23rd of August highs).
Pair started the week with a bounce from the weekly PP/20-day SMA.