A bullish trend during the last two weeks reversed with a strong bearish impetus, as the price has decreased to a 0.93 benchmark yesterday and currently is testing the 100-day SMA at 0.9298.
The major Asian currency pair declines for a third trading session, as open-ended stimulus programme will start to be implemented only since 2014.
The Cable experiences hard times, as the price sharply depreciates for the ninth consecutive session.
The major currency pair fluctuates around the weekly PP level at 1.3326 and the monthly R1 at 1.3373 and after three attempts last week is still unable to breach it.
Unlike USD/CAD, this currency pair moves according to positive signals given by the majority of technical studies after encountering the 20-day SMA.
The down-trend resistance line failed to stop USD/CAD from recovering and thereby exposed 0.9947.
The demand for the Australian Dollar has considerably increased since yesterday, as reflected by the most recent spike in the chart.
An initial weak support at 119.08 gave in and the currency pair is presently testing a subsequent level at 117.90/11, which is of the substantially greater significance.
It seems that for the time being bulls lost interest in the pair after posing for a rally which could have pushed the pair all the way to the 200 day SMA.
Initially it seemed that a fall from 90.12 will be just a temporary setback, but todays events, when it once again failed to advance above the mentioned level and depreciated by 130 pips, raises some concerns.
A recent sell-off pushed pair below its 200-day SMA and at the moment monthly S2 at 1.5878 is keeping it away from recovery.
Pair managed to appreciate by 70 pips today and at the moment is testing monthly R1 at 1.3373.
NZD/USD slides downwards, while being underpinned by the 20-day SMA, contrary to signals sent by the technical studies lately.
USD/CAD has largely ignored readings of technical indicators and soared up to a major down-trend resistance line, where it is currently standing.
Even though most of the technical indicators continue to give "buy" signals, the pair seems hesitant to approach 1.0577/59, which has repeatedly repelled AUD/USD in the past.
A rally from 115.00, commenced on Jan 9, appears to be overextended and requires a bearish correction prior to its continuation.
Being that the area between the spot price and the 200-day SMA is only obstructed by a Bollinger line at 0.9385, USD/CHF is probable to cover this distance relatively easy and quick, once the surge is commenced.
Lately USD/JPY has been increasing its pace of advancement, but bullish candles started to alternate with considerably deeper troughs than before.
A recent sell-off in GBP/USD resulted in a breach of the 200-day SMA, meaning that the currency pair is well-positioned to continue its decline further.
Demand failed to overthrow supply at 1.3395/73, implying that the pair currently lacks bullish momentum in order to sustain its steep appreciation.
Following a bullish impetus from weekly PP and monthly R1, received after a bearish correction, the pair is struggling to advance above monthly R2 at 120.4.
Pair rushed by more than 80 pips after receiving a bullish impetus from weekly PP at 0.985 area today.
Pair took a second consecutive 60 pip dive after a week of choppy sessions in 1.058-1.052 area.
Pair has declined marginally today after a few rather volatile sessions yesterday and the day before which suggest that it has found it direction and at the moment it seems that recent peak could be perceived as a second top for Double Top pattern.