Following a confirmation of the support at 129.93/91 yesterday, EUR/JPY again displays the tendency to move higher.
Pair's recovery has been interrupted by the monthly R1 at 0.867.
Pair started the week above 101 JPY and is staying there.
Pair received a bullish impetus from the 2013 low at 1.482 and at the moment has recovered 110 pips out of 450 pips of losses it sustained last week.
Pair continues to recover after bouncing from 2013 may low at 1.279.
AUD/USD opened the week with a small downside gap, but has already closed it, heading towards the interim resistance at 0.9110, which will be followed by 0.9235/0.9184 and 0.9348/27, if it is to fail to contain the current rally.
On Friday NZD/USD closed below 0.7748, the former up-trend support line, implying that the currency pair should keep on descending with a target at 0.7466/54, the 2012 year low.
As it turned out, the cluster of pivots and the 20-day SMA at 128.73/57 was enough to hold the price from falling further.
After the weekend USD/CAD does not seem to be willing to carry on with advancing to 1.0633, it gravitates towards 1.0552.
As anticipated, pair breached 101 JPY. Current minor dip could be seen as traders capitalizing their gains therefore, as suggested by technical indicators, pair is likely to maintain bullish trend.
Pair finished last week with a 400 pip sell off and at the moment is hovering slightly above 1.482 (2013 low).
Pair finished last week with very aggressive, 200 pip, rally and at the moment is trading just slightly below 0.97.
Pair started the week pretty much where it finished the last one—slightly above 1.28.
As soon as NZD/USD hit the down-trend resistance line at 0.7855/38, the currency pair was sharply sold off—it is now being traded at the key support—0.7730, settlement below which will reinforce the bearish outlook.
USD/CAD has finally started to realise its bullish potential, jumping beyond the interim resistance at 1.0576.
It did not even require AUD/USD to step up to the nearest resistance at 0.9199 to reverse its direction and start moving south.
As it was expected, the 55-day SMA turned out to be unable to hold the selling pressure and allowed the dip to extend down to the support at 128.57/36 that has repeatedly proved to be strong.
After trading around the 55-day SMA pair received bullish impetus from it and at the moment is testing weekly R2 just below the 0.96 level.
Pair did not manage to gain momentum and vigorously advance above the 101 JPY.
Yesterdays rally gave hopes that pair might advance above the 100-day SMA which eventually failed the pair and sent it 240 below its opening value.
Pair received a bearish impetus from the 55 and 100-day SMAs and sold off till the weekly S2.
"In a global risk-off environment, particularly when things are being triggered by say European events or events in the Middle East, I think the dollar will perform very well."- Alan Ruskin, Deutsche Bank AG (based on Bloomberg)Pair's OutlookFor the time being a formidable support line at 0.7730 is keeping the New Zealand Dollar buoyant. Accordingly, we might see some pressure
The technical indicators have become more united in showing that USD/CAD is bullish.
Presently the temporary relief is provided by the weekly S1 at 0.9054, but the rally is shallow and highly unlikely to make any significant progress.