Recent few days were really bad for the New Zealand Dollar, as its value against the U.S. Dollar shrunk substantially, starting its trip from the major resistance level at 0.8534.
The loonie is on the long-term slide, as the price weakens since 17th of April. Today the pair is traded at the weekly S1 level at 1.0033, which is the last support before the key level—the 200-day SMA at 1.0012.
Since the Aussie dropped heavily in last two sessions—the price slipped from the 20-day SMA and weekly PP at 1.03, with a bottom point way lower than the Bollinger band.
EUR/JPY pair reverses last few trading sessions' loss, as the price advances today from the weekly pivot point level at 129.14.
The currency pair has indeed reached the 55-day SMA we mentioned yesterday, but at the same time faced strong resistance at this level, being sent back towards the moving average for 20 days.
Overall USD/JPY is closing in on 100.21/99.91 cautiously, looking for some support to recommence advancement.
The British Pound continues to lose its value, as the Cable has come under heavy selling pressure near the upper boundary of the channel up at 1.5582.
Favourably for the bullish outlook the up-trend support line remains intact, pushing the price upwards as soon as EUR/USD gets clos.
Pair is showing bearish intentions, but remains rather passive hovering above the weekly pivot (PP).
Earlier today pair touched the weekly and monthly PP where it received a bearish impetus and has dropped by 102 pips since then.
After a brief try to inch up a bit earlier today, pair continued to depreciate and at the moment is hovering slightly above weekly S1 at 1.003.
Being stopped by the weekly S1 at 1.021 yesterday pair managed to breach it earlier today and has fallen by 60 pips since then.
USD/CHF is advancing towards the 55-day SMA at 0.9405, but is not expected to stop there, since the outlook, both in the short and the long term is positive.
USD/JPY slipped ahead of the resistance at 100.31/99.82, which has been keeping the bulls at bay for the past month, hindering evolution of the longer-term up-trend.
It appears that the Cable did not yet gain enough momentum to break out from the rising channel it has been trading within since the beginning of March.
Upward impetus the currency pair has received from the 200-day SMA was insufficient to throw EUR/USD over the weekly pivot point, instead we see a re-test of 1.3072/70, which is also a point of the rising support line.
After mild gains pair dropped by 70 pips and at the moment is trading below 0.85 (supported by 20-day SMA).
As most of other major pairs, greenback and loonie cross started the week passively as pair is staying in 30 pip range.
Pair started the week passively, but dipped by 80 pips after receiving a bearish impetus from 20-day SMA/weekly pivot (PP) earlier today.
Although pair is showing bearish intentions it is relatively passive in comparison to the last weeks moves and is fluctuating in the 70 pips range.
After a fierce battle between the bulls and bears last Friday, as indicated by the large spikes on the chart, USD/CHF is calmly moving en route to the 55-day SMA at 0.9405, a path towards which is unobstructed by notable resistances.
As expected, a dive below the support line did not signify a reversal of the major up-trend.
Arrival of the Cable at the rising resistance last week implied initiation of the sell-off that was meant to continue until the lower boundary of the channel up pattern would be reached.
A support area, formed by a combination of the 20 and 200-day SMAs, has successfully managed to repel bearish attack of the price and subsequently initiated a recovery.