At some point pair has dipped by more than 120 pips this week, but found support with the weekly S1 and recovered half of those loses up till now.
After a formidable (270 pip) rally in the last 3 days pair seems to be slowing down.
Pair maintains its mildly bearish stance as at the moment it seems to be consolidating below the weekly PP (1.327).
NZD/USD has just entered the support zone (0.78-0.77), the one responsible for the bullish correction that took place in July.
Although we were ready for a deeper dip, topical in 2009 and 2012 levels, in conjunction with the 100-day SMA, were enough to reverse the sell-off and direct the pair upward.
Last week AUD/USD was falling freely, failing to find any ground after consolidating just below the early 2009 and late 2010 highs.
Being unable to sustain the rally from 130, EUR/JPY has once again returned to the major uptrend line that remains in force since July 2012.
In the end of the last week it seemed that the pair once again is consolidating above the 200-day SMA.
Pair finished last week and started this one in unusual volatile fashion.
Pair gained approximately 200 pips in the end of the last week when it bounced from 1.51.
Pair appreciated almost 100 pips at the end of the last week when it received a bullish impetus from the weekly S1.
NZD/USD fell through the 55-day simple moving average and the pair is currently testing the down-trend support at 0.7828, which could initiate a short-squeeze.
Using a bearish trend-line at 1.0260 as a springboard, the currency pair managed to balloon up to the monthly pivot point level at 1.0379, where the 55-day SMA resides as well.
After showing a little bit of hesitation to carry on with the decline near the weekly S3 at 0.8959, AUD/USD is still grinding lower along the down-trend support line that was breached on Jul 16 but is nevertheless anticipated to remain topical in the medium term.
Yesterday EUR/JPY soared above the weekly pivot point at 130.95, retaining the strong bullish momentum that is expected to push the price even higher.
Pair appreciated 100 pips yesterday and seems to be consolidating above the 200-day SMA and aiming at 55 and 100-day SMAs.
Pair is continuing to appreciate after receiving a bullish impetus from the Fibo 38.2% (end of May to mid of June move) yesterday.
Pair has been depreciating since Monday, but is showing initial signs of a short term recovery.
After a rather volatile trading session pair closed only 30 pips above its opening price few days ago.
Apparently, 0.7952/36 will be unable to stop kiwi's depreciation.
After a volatile session yesterday USD/CAD is still trying to get a foothold above the zone at 1.0295/86, which is needed for the pair to rechallenge the closest resistance at 1.0339/36, although a serious test of the upside momentum is going to be performed at 1.0447—2012 high.
The last three days the Australian Dollar has been sharply depreciating.
At the moment the currency pair is fluctuating around a new monthly pivot point at 130.30, but at the same time showing willingness to climb over the nearest weekly PP at 130.95, which is not supposed to contain bullish potential of EUR/JPY.
Pair had a rather volatile session yesterday. It traded in 140 pip range (between weekly R1 and S1), but closed only 30 pips above the opening price.