The levels that proved to be important in already distant years of 2009 and 2010, are still playing a significant role in shaping the chart.
Unlike most of the previous resistances that were encountered since the start of the recovery from a trough at 0.8847, the 55-day SMA, together with the monthly R1, seems to have managed to prevent further advancement of AUD/USD, even though the currency pair preserves the potential to go higher, up to 0.93.
Last week a rebound from the monthly S1 was capped by the resistance at 129.89/21 that consists of the 55 and 100-day SMAs.
Pair started the week in a mild bullish fashion and at the moment is testing weekly PP.
Pair has been trailing lower for the past 30 days. At the moment it seems stable, however downside risk persists.
Pair seems to have stabilized after skyrocketing last week and at the moment is trading slightly above the 200-day SMA around 1.455.
It seemed that the pair is planning to test 5 month high at the end of the last week.
Similarly to the tendency observed in AUD/USD, the U.S. Dollar is losing value against the kiwi, but in a more pronounced way
Neither the monthly nor weekly pivot points were capable of holding the currency pair.
The whole week AUD/USD was on the rise, overcoming every resistance that stood in the way, regardless of the technical indicators being mixed on the daily and monthly charts, on a weekly time-frame they are even giving mostly ‘sell' signals.
The support at 128.55/127.86 forced the currency pair to back off, though it appears the rally will be unable to extend beyond the recently breached 55 and 100-day SMAs.
Pair seems to be stabilizing around the 92 cent mark.
Pair receiver a minor bullish impetus which sent the pair back above the 96 JPY.
Pair maintains it's momentum and at the moment is testing weekly R2.
Pair eroded the weekly R1 with ease and at the moment is approaching 5 month high at 1.342.
The New Zealand Dollar preserves the pace of appreciation, effortlessly passing through the intermediate resistances.
As was suspected, the weekly R1 at 1.0445 did not seem to be willing to let the U.S. Dollar to appreciate unceasingly.
The currency pair keeps moving away from the key psychological level at 0.87.
If we regard the price action since the very beginning of 2012 as formation of the rising wedge pattern, then the fact of the lower boundary's violation at 130.30 should entail a sizeable sell-off until the currency pair manages to recuperate.
Pair is maintaining its bearish stance and depreciated additional 40 pips yesterday.
Pair lost additional 80 pips yesterday as weekly S2/monthly S1 did not provide enough support to stop the pair.
Pair started falling towards the Fibo 38.2% (mid of June till beginning of July move)/monthly PP/weekly S1 yesterday, but received a strong bullish from it which sent the pair more than 300 pips higher.
As the pair maintains its bullish stance we are forced to change its outlook from mildly bearish to mildly bullish.
NZD/USD keeps on trimming the losses made last week, it has already attained the monthly PP at 0.7918 that is now under risk of being broken.