Although the currency pair was well-positioned yesterday for a rally, neither the up-trend nor the 20-day SMA provided sufficient support to realise short-term bullish scenario.
NZD/USD is slowly trimming last week's gains after an unsuccessful attempt to breach the 100-day SMA at 0.8046.
Despite existence of risks that USD/CAD might fall through the support at 1.0303/1.0285, the currency pair managed to stay afloat.
For now AUD/USD preserves buoyancy with the help of a formidable support area formed by the various studies, such as monthly and weekly pivots, 20-day SMA and 38.2% Fibonacci retracement of the 2008 Oct—2011 Jul move.
Regardless of a slightly more bearish than bullish sentiment among the daily technical indicators, the Euro carries getting stronger due to the fundamental factors.
Apparently, USD/CHF is not willing to descend beneath the round level of 0.92, meaning that the focus is presently on the nearest resistances.
The 200-day SMA preserved the bullish outlook on the pair by sending it beyond the resistance line at 97.00/96.96.
As noted previously, the Cable is currently undergoing a correction that follows a sharp rally.
Yesterday the currency pair reached the lower boundary of the bullish channel it has been trading within for the past 30 days.
For the time being the 100-day SMA is keeping the spot price beneath, implying that the New Zealand Dollar will not appreciate any more.
The levels that proved to be important in already distant years of 2009 and 2010, are still playing a significant role in shaping the chart.
Unlike most of the previous resistances that were encountered since the start of the recovery from a trough at 0.8847, the 55-day SMA, together with the monthly R1, seems to have managed to prevent further advancement of AUD/USD, even though the currency pair preserves the potential to go higher, up to 0.93.
Last week a rebound from the monthly S1 was capped by the resistance at 129.89/21 that consists of the 55 and 100-day SMAs.
Pair started the week in a mild bullish fashion and at the moment is testing weekly PP.
Pair has been trailing lower for the past 30 days. At the moment it seems stable, however downside risk persists.
Pair seems to have stabilized after skyrocketing last week and at the moment is trading slightly above the 200-day SMA around 1.455.
It seemed that the pair is planning to test 5 month high at the end of the last week.
Similarly to the tendency observed in AUD/USD, the U.S. Dollar is losing value against the kiwi, but in a more pronounced way
Neither the monthly nor weekly pivot points were capable of holding the currency pair.
The whole week AUD/USD was on the rise, overcoming every resistance that stood in the way, regardless of the technical indicators being mixed on the daily and monthly charts, on a weekly time-frame they are even giving mostly ‘sell' signals.
The support at 128.55/127.86 forced the currency pair to back off, though it appears the rally will be unable to extend beyond the recently breached 55 and 100-day SMAs.
Pair seems to be stabilizing around the 92 cent mark.
Pair receiver a minor bullish impetus which sent the pair back above the 96 JPY.
Pair maintains it's momentum and at the moment is testing weekly R2.