Pair receiver a minor bullish impetus which sent the pair back above the 96 JPY.
Pair maintains it's momentum and at the moment is testing weekly R2.
Pair eroded the weekly R1 with ease and at the moment is approaching 5 month high at 1.342.
The New Zealand Dollar preserves the pace of appreciation, effortlessly passing through the intermediate resistances.
As was suspected, the weekly R1 at 1.0445 did not seem to be willing to let the U.S. Dollar to appreciate unceasingly.
The currency pair keeps moving away from the key psychological level at 0.87.
If we regard the price action since the very beginning of 2012 as formation of the rising wedge pattern, then the fact of the lower boundary's violation at 130.30 should entail a sizeable sell-off until the currency pair manages to recuperate.
Pair is maintaining its bearish stance and depreciated additional 40 pips yesterday.
Pair lost additional 80 pips yesterday as weekly S2/monthly S1 did not provide enough support to stop the pair.
Pair started falling towards the Fibo 38.2% (mid of June till beginning of July move)/monthly PP/weekly S1 yesterday, but received a strong bullish from it which sent the pair more than 300 pips higher.
As the pair maintains its bullish stance we are forced to change its outlook from mildly bearish to mildly bullish.
NZD/USD keeps on trimming the losses made last week, it has already attained the monthly PP at 0.7918 that is now under risk of being broken.
Not without difficulties, but USD/CAD has successfully overcome the monthly pivot point at 1.0379 that merged with the 55-day SMA.
AUD/USD still continues to trade above the support at 0.8830/11, but the probability it will breach this area and move towards lower levels remains elevated.
A supposition that the rising trend-line will withstand the bearish pressure turned out to be invalid, since EUR/JPY has already closed beneath 130.30.
Pair has recovered some of the yesterdays losses as weekly S1 might be providing good enough initial support.
Weekly S1/Fibo 38.2% (end of May till mid of June move) failed to provide enough support for the pair after it retested the mentioned level.
Pair seems to have lost some tempo after a strong rally few days ago as Fibo 61.8% (mid of June till beginning of July) is keeping it at bay.
Rather unexpectedly pair has received a minor bullish impetus from the weekly PP which sent the pair 50 pips above it.
Yesterday's rapid appreciation of the New Zealand Dollar led to a closure of the bearish gap and a logical test of 0.7881/70 that continues to provide considerable resistance.
USD/CAD is still hesitating to advance while being in the vicinity of the monthly pivot point, but should eventually overcome the hurdle at 1.0379 and start heading towards subsequent resistances.
A dip from a psychological level 0.93 turned out to be overextended, since a soft test of the support at 0.8844/11, formed by the monthly S1 and the lower Bollinger band, initiated a short squeeze.
A struggle with the rising support line at 130.30 continues, although it already seems that the bulls will have an upper hand in this battle.
It seems that the pair has stabilized after plummeting from 200-day SMA and at the moment it is trading supported by the weekly S1.