NZD/USD failed to sustain a recovery, failing to extend gains in light of the vicinity of the resistance line at 0.7855/43; however, the demand around 0.7730 has been successfully underpinning the pair for the recent weeks.
The weekly R1 level at 1.05, currently acting as the support, was more than enough to initiate a rally up to 1.0576 today that seemed quite distant before.
AUD/USD realised its downside risk after surprising with a strong rally yesterday.
The currency pair effortlessly passed through the 55-day SMA and is about to surpass the weekly R1 level at 130.48 as well.
For quite some time now pair has been trading at the 55-day SMA at 0.945.
Pair is continuing to slowly appreciate and at the moment is aiming at the 100 JPY.
Pair continues to be rather passive and remains just slightly above the 1.52.
After a few failed attempts to breach the 100-day SMA pair finally managed to close above it.
Despite the most technical studies pointing to the downside, NZD/USD refuses to approach supports beneath 0.7730, such as 0.7665 and 0.7627.
Last week USD/CAD's up-move stalled around 1.0540, but this week and onwards we expect higher trading levels, as suggested by the daily and monthly technical indicators.
This week AUD/USD started on a positive note, as it is currently trimming the losses posted on Friday.
EUR/JPY preserves bullish momentum it started to exhibit at the end of the previous week—right now the currency pair is eroding the 55-day SMA at 129.78.
Pair finished the last week just slightly above the 100-day SMA, at the 55-day SMA at 0.945.
99 JPY area with the 55-day SMA seemed a tough target last week.
At the end of the last week it seemed that the pair might depreciate all the way till 1.50 with ease.
It seemed that a bounce from the 100-day SMA last week could send the pair on the path of regaining all of the recent losses.
As expected, there was no reason for NZD/USD to climb over 0.7876/53 mainly formed by the bearish trend-line, which for now appears to be impenetrable.
For a brief moment USD/CAD was dangerously close to breaching 1.0447, which most probably would mean a decline down to 1.0267, a cluster of supports consisting of the falling support line and the monthly pivot point, as well as 55 and 100-day SMAs.
The rally above 0.9269 was not sustained, leading to a strong sell-off that is currently taking place.
Resistance at 129.22/16 was unable to contain EUR/JPY's bullishness for long, letting the currency pair to soar up to 129.72 today.
At the moment pair seems to be stuck between the 55 and 100 day-SMAs.
It seems that the pair is gaining pace as at the moment it is testing 99 JPY level.
Pair spent most of the yesterday supported by the 100-day SMA around 1.53.
Yesterday pair did not manage to confidently breach 100-day SMA.