Pair seems to have slowed down just before the 100 JPY.
Despite the setback at weekly R1 pair managed to finish yesterday's session with gains.
Pair continued to depreciate yesterday, but found support with the 100 and 200-day SMAs and recovered half of then losses.
The weekly pivot point at 0.7786 fell victim to the short-squeeze yesterday, meaning that NZD/USD is able to advance farther, in the direction of more serious resistances, such as the 55-day SMA at 0.7896 or the 100-day SMA at 0.7940.
Although at the moment of writing the spot price is nearly 40 pips below today's open, the currency pair retains its bullish potential, especially considering that five out of eight daily indicators are giving ‘buy' signals.
As it turned out, the dense area between the weekly PP at 130.51 and the monthly PP at 130.03 did not manage to contain the currency pair for more than a week, allowing EUR/JPY to cover more than a half of the distance to the next resistance zone at 132.23/131.72 yesterday.
Previously bearish signals provided by the technical indicators have now turned neutral, since AUD/USD refuses to move towards the lower boundary of the declining channel, but instead is recovering to the falling trend-line it has just bounced off.
Pair advanced above the 55-day SAM without much of complications and a the moment is trading at 200-day SMA.
Pair clearly broke out of the downtrend (since 7th of July) and at the moment is aiming at major level at 100 JPY.
Pair demonstrated strong bullishness yesterday, but did not manage to advance above weekly R1.
Pair remains noticeably bearish—55-day SMA and Fibo 38.2% (9th of July to 20th of August move) did not manage to stop the pair and at the moment it is approaching 100 and 200-day SMAs.
NZD/USD is distancing itself from the major up-trend line at 0.7754, decreasing the probability of the weekly PP at 0.7786 staying intact today.
At the moment USD/CAD is consolidating above the support line at 1.0521 after a sharp rally staged last Thursday.
Although last week EUR/JPY stayed below the area created by the monthly pivot and the simple moving averages for 20, 55 and 100 periods, today it is making yet another attempt to rise and until now is successful.
A failure of AUD/USD to fall beneath 0.89 evoked a rally that is currently probing a combination of the weekly and monthly pivot points.
Pair continues to show bullish directional signals and is aiming at 55-day SMA at the moment.
Pair started the week slightly below it, but at the moment is trading exactly on the 55-day SMA/downtrend resistance (connecting 7th of July and 23rd of August highs).
Pair started the week with a bounce from the weekly PP/20-day SMA.
Pair was under pressure whole last week and started this week at 55-day SMA/Fibo 38.2% (beginning of July to middle of August move).
While we were expecting continuation of the down-trend in NZD/USD, based on the premise that the spot price is beneath the 200-hour moving average, there are now more reasons to believe the kiwi is already at or is about to hit the bottom.
The inability of the bears to push the price below the immediate support at 1.0462 that portended a soon recovery of the pair resulted in a rally that pierced the monthly R1, freeing the path towards the July high at 1.0609.
While yesterday AUD/USD closed in red, today the Australian Dollar is showing more resilience by attempting to rebound from the line in the sand at 0.8894/84.
The latest attempt of EUR/JPY to gain a toehold above the 130.30/14 area did not succeed, leading to a sell-off from the levels seen yesterday.
It seems that pair is taking a step back after a 150 pip sell of in the last few days.