The pair has been undergoing a corrective decline ever since the exchange rate hit the 14-month resistance line two weeks ago.
We are observing some selling pressure for the first time in seven trading days.
The Greenback appears to be eager to recover from an almost full week of losses against the Japanese Yen, despite mixed fundamental results on Friday.
The Cable took a beating on Friday, as the exchange rate edged closer to the 1.45 psychological level, mostly due to a decline in US Unemployment Rate.
Last Friday was the first bearish day for EUR/USD in six consecutive trading sessions.
The falling resistance trend-line and the 200-day SMA between 0.67 and 0.6760 seem unlikely to let the New Zealand Dollar to appreciate more than it already has.
USD/CAD managed to rebound from the monthly S1, but unless the currency pair is able to recover past 1.3865/40 (weekly S1, 55-day SMA, and down-trend), the Greenback will likely keep losing ground until the up-trend at 1.35.
AUD/USD appears unwilling to make a decisive move above 72 cents, which would imply a continuation of the latest recovery to 73 cents.
As supply around 132 yen was supposed to, it drove the currency pair away from the 14-month trend-line and the 100-day SMA through the recently established accelerated up-trend.
Yellow metal remains increasingly buoyant for the moment, given global economic uncertainty and expectations that the Fed will keep interest rates low.
USD/JPY violated a yet another monthly pivot, closing 110 pips lower yesterday.
GBP/USD is currently retreating from the monthly R1, but the currency pair retains potential to go higher from here.
European common currency continued rallying versus the Greenback on Thursday, by adding 104 extra pips to end the American session at 1.1207.
In hindsight, it is now clear that instead of a channel NZD/USD was in fact forming an ascending triangle, which usually portends a rally.
Just like in many other major pairs, the US Dollar weakened to the point where it broke through major technical levels.
AUD/USD appears to be trading in a sort of a broadening ascending channel. At the moment the Aussie is right at the upper boundary of the pattern, which implies a sell-off from 0.7240.
So far Thursday is bullish for EUR/JPY, as the currency pair bounced off of the 55-day SMA, up-trend, and weekly PP at 130.60/50.
American currency weakened across the board yesterday, while pushing safe-haven prices further to the upside.
During the last two days USD/JPY has nearly negated all its gains after Jan 19, as the monthly pivot point was unable to stop Dollar's depreciation yesterday.
Yesterday, amid broad USD weakness the Cable soared through the weekly R2 and even managed to test the 1.4681/53 resistance area, which consists of the weekly R3 and monthly R1 levels.
Poor services data from the US hit the Dollar on Wednesday. EUR/USD touched the highest level since October, while crossing several crucial resistances.
The Kiwi was expected to undergo a correction in a more gradual manner—within the recently established channel.
The initial reaction after USD/CAD touched the trend-line was bullish, but today the Greenback remains under heavy selling pressure, as it failed to recover past the weekly pivot point.
Yesterday, the Aussie completed a correction within the bullish channel, meaning today the currency is likely to close in green.