Pair ended the last week with a major sell off, but seems to have stabilized for now.
Pair started the week in a calm fashion, but it was evident that 20-day SMA is causing some turbulence.
Pair finished the week with a mild sell off to dip 1.60 which seems to be still weighing on the pair.
Pair remains in the boundaries of the accelerated uptrend, but seems to be loosing potential as monthly R2 is keeping the pair depressed.
Although there are now even more bullish technical indicators than yesterday, NZD/USD remains at the same place—just beneath the weekly R2.
At the moment USD/CAD is trying to restore the bullish outlook, being that recently the rate has closed below the long-term moving average, thereby casting doubt on the ability of the pair to rebound from the rising trend-line that is drawn through all of the major troughs of the last 12 months.
A cluster of resistance levels at 0.9525/08 successfully withstood AUD/USD's assault, sending the currency pair towards the weekly R1 at 0.9420.
The resistance at 134.59/49, composed of the weekly and monthly R2 levels, along with the up-trend line (in force since last year's July), managed to completely nullify the bullish momentum, keeping today's fluctuations near the open price.
Pair seems to have stabilized and remains around 91 cent mark.
Pair has recovered all of the losses caused by the major sell off few days ago and at the moment is hovering above the 20-day SMA.
Pair did not manage to advance further as bearishness, which could be felt few days before the recent jump, seems to have caught up.
Pair's skyrocketing was met with some resistance yesterday as it seems to be struggling with monthly R2.
Yesterday's rally breached a number of important resistances, including the weekly R1 and monthly R2 levels.
The pair ignored all of the nearby supports yesterday, but most importantly settled beneath the major up-trend line and the 200-day SMA that had to remain intact for the bullish outlook to be valid.
Although previously AUD/USD was capped by the monthly R2, the resistance was unable to withstand the bullish pressure initiated yesterday and gave in.
EUR/JPY has come up all the way from 132.20/09 up to 133.81 since Sep 17, without encountering any notable resistances.
Pair plummeted by more than 150 pips after hitting weekly and monthly PP/61.8% Fibo few days back.
Weekly PP/20-day SMA seemed unbreachable point for the pair despite it's mild prior bullishness.
Despite the slowing down in the past days, pair jumped by almost 250 pips, breached uptrend's resistance and at the moment is testing 2013 (January) high.
Pair has appreciated by almost 200 pips and at the moment is trading at the highest level since February, 2013.
NZD/USD has finally left 0.82 behind, meaning 0.8317/0.8291 is now exposed.
Despite the proximity to the dense support area, USD/CAD refuses to commence a robust recovery, fluctuating a few steps away from the 200-day SMA at 1.0272.
Daily ‘buy' signals have already started to weaken, implying that the nearest resistances have a good chance preventing AUD/USD from climbing any higher.
The latest rally of EUR/JPY still lacks consistency, but the support at 132.20/09 nonetheless remains intact.