Pair was posing for a major dip, but, the same as last week, it received bullish impetus from monthly R1 proving that 88.40 has become a strong support level for the pair.
For the past 5 days pair has been trading in monthly S2 (1.587) and 1.580 boundaries.
For the past 5 days pair has been trading around 1.3325 where we can find this weeks pivot point.
The New Zealand Dollar is not losing its pace of appreciation despite proximity of the strong resistance area at 0.8489/53.
USD/CAD did not confirm a breakout from the down-trend resistance line on Jan 22, receding away from the 200-day SMA.
The upward impetus that was received by the AUD/USD currency pair yesterday was insufficient to throw the pair above 1.0577/59, exposing exhaustion of bulls.
EUR/JPY had time today to descend down to 117.04, but bulls proved to be on guard, having already sent the price back above 117.90—the upper edge of the key support area that defends the medium-term positive bias towards the currency pair.
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.