It does not seem anymore that NZD/USD will be capped by the down-trend resistance line drawn through the highs since May 13, as it has settled above 0.7809/0.7785 and is already attempting to rally further.
The currency pair has taken yet another step towards 1.0447, which are now separated by mere 50 pips.
AUD/USD continues to grind upwards regardless of the ‘sell' signals given by three out of eight technical indicators.
An endeavour of EUR/JPY to surge beyond the resistance at 129.91, a combination of the weekly PP and 55-day SMA, seems to have failed, as it plummeted down to the lower edge of the wide but nevertheless dense support area that stretches from 129.00 to 128.22.
Pair did not manage to advance above the 1.29 mar, received bearish impetus from it.
Pair did not manage to consolidate above the 101 and it might be that we wont see it testing 103.7 soon.
Pair bounced from the 2013 low yesterday, but did not manage to gain momentum and breach 1.50
Pair's recovery has been previously interrupted by the monthly R1 at 0.967.
Just as on Jun 13, NZD/USD ballooned through the bearish resistance line and has already reached the monthly pivot point level at 0.7855.
Right now we see even more bullishness in the technical indicators on daily and monthly charts than yesterday, but USD/CAD refuses to follow the signals and is closing in on the 1.0496 that is a fraction higher than the key support at 1.0466/47.
Despite the currency couple closing above 0.9110 and approaching 0.9216/0.9184, the daily technical indicators have become slightly more bearish than before on a daily time-frame.
Following a confirmation of the support at 129.93/91 yesterday, EUR/JPY again displays the tendency to move higher.
Pair's recovery has been interrupted by the monthly R1 at 0.867.
Pair started the week above 101 JPY and is staying there.
Pair received a bullish impetus from the 2013 low at 1.482 and at the moment has recovered 110 pips out of 450 pips of losses it sustained last week.
Pair continues to recover after bouncing from 2013 may low at 1.279.
AUD/USD opened the week with a small downside gap, but has already closed it, heading towards the interim resistance at 0.9110, which will be followed by 0.9235/0.9184 and 0.9348/27, if it is to fail to contain the current rally.
On Friday NZD/USD closed below 0.7748, the former up-trend support line, implying that the currency pair should keep on descending with a target at 0.7466/54, the 2012 year low.
As it turned out, the cluster of pivots and the 20-day SMA at 128.73/57 was enough to hold the price from falling further.
After the weekend USD/CAD does not seem to be willing to carry on with advancing to 1.0633, it gravitates towards 1.0552.
As anticipated, pair breached 101 JPY. Current minor dip could be seen as traders capitalizing their gains therefore, as suggested by technical indicators, pair is likely to maintain bullish trend.
Pair finished last week with a 400 pip sell off and at the moment is hovering slightly above 1.482 (2013 low).
Pair finished last week with very aggressive, 200 pip, rally and at the moment is trading just slightly below 0.97.
Pair started the week pretty much where it finished the last one—slightly above 1.28.