Trading of EUR/JPY continues to take place above the upper Bollinger band, though the currency pair, as noted yesterday, is already showing some signs of weakness ahead of the resistance at 131.47/130.86.
EUR/USD finished an impulse to the 55-day SMA at 1.3079, since yesterday it even surpassed an interception point of the Bollinger band and the SMA for a short period of time.
Yesterday the Cable found support at 1.5241, where the 55-day SMA was positioned. This level created sufficient bullish impetus to reverse the price and continue an up-side trend.
Yesterday USD/CHF slipped beneath the 200-day SMA and made a spike to check the 55-day SMA at 0.9363.
Yesterday USD/JPY found a resistance level at 99.57, which was able to ease significant market sentiments to sell the Japanese Yen.
Numerous attempts of NZD/USD to breach the up-trend resistance line have finally yielded results.
The direction of the price movement implied by the technical indicators did not turn out to be the right one, while the fact that AUD/USD has just hit a strong support zone at 1.0353/38 played out as anticipated, i.e. reversed the dip.
A surge that was commenced right after USD/CAD touched upon 1.0106/1.0096 last week proved to be unsustainable, as supply at 1.0187/69 and 1.0235/19 did not allow further advancement.
USD/CHF fluctuates beneath the 200-day SMA for a third trading session.
USD/JPY surges to the highest level since August 2009, as the price is traded just beneath a 100 benchmark.
The major currency pair is under heavy bullish pressure, as the price intensively moves up and reaches new highs.
The Cable breached the 55-day SMA easily at the end of the last week, indicating strong bullish sentiments in the pair.
Yet again NZD/USD is attempting to breach the up-trend resistance line, which has been already violated once on Feb 26 but nonetheless preserves topicality in forming the price chart.
As expected, the 55-day SMA, in conjunction with the weekly pivot point, managed to provide sufficient support in order to push the price higher, which in fact is already testing the 20-day SMA.
A recent pullback has been stopped by a confluence of several support levels, namely the monthly pivot point, 55-day SMA and Bollinger band.
Since Apr 4 EUR/JPY has already covered more than nine figures, though the rally has stalled recently, following a breach of Feb 6 high at 127.73.
For more than a month the 200-day SMA has been the only support capable of underpinning the currency pair, while the rest were breached.
While the resistance at 1.5254/33 failed to halt appreciation of the Sterling, monthly R1 along with Bollinger band situated at 1.5361/46 was able to negate the upward momentum of the price.
The rally initiated last Thursday has penetrated a number of notable resistances, including Aug 2009 high at 97.81 most recently.
Short squeezing drags on, but has tapered off at a cluster of resistances, mainly formed by the 200-day SMA and monthly R1.
Kiwi dipped by 50 pips today and at the moment is supported by weekly pivot (PP).
Pair has appreciated by more than 100 pips already after receiving a bullish impetus from the Bollinger band earlier in the session today.
Pair extended its loses further and at the moment has slipped below the cluster of levels at 1.0372/434 which weakens the probability that pair might pick up again soon.
After receiving a bullish impetus from 100-day SMA pair has already appreciated by more than 600 pips and it seems it is planning to end the week at the same pace.