Pair has lost some inertia and at the moment is hovering around 1.57.
Pair managed to breach key, Fibo 61,8% (February to April, 2013, move), level.
As soon as the pair approached a formidable support zone at 0.7740/16, it reversed and, ignoring a resistance level at 0.7929, soared up to 0.8037/11—continuation of the down-trend that was guiding NZD/USD south since May 13.
The support at 1.0212 attempted yesterday to initiate a rally, but once USD/CAD touched upon the lower edge of the resistance area at 1.0267/51, bears responded immediately by selling off the U.S. Dollar.
A breach of 0.9387 was not confirmed yesterday and now AUD/USD is quickly advancing towards the nearest resistances, the closest of which is located at 0.9594/34.
Today the currency price spiked up to 129.13 from the rising support line, but was unable to get a foothold above it and as a result, returned back to 127.96/41, intactness of which safeguards the bullish outlook.
Pair is still struggling to recover from 0.92.
Pair tried to step up close to the 55-day SMA yesterday, but dipped 300 pips after unsustaining pressure from it.
Yesterday pair breached the 200-day SMA and at the moment is being supported by it.
1.334/35 area is continuing to put significant pressure on the pair despite the fact that technical indicators, on aggregate, give a positive outlook in the short term.
At the very start of this week AUD/USD was moving upwards, willing to close the bearish gap, but now it is hanging down from the major low at 0.9387, which for now appears to be unable to reduce market's desire to push the Aussie's price south.
The pair did not even have to rise as high as 0.7929 to receive a strong bearish impulse that subsequently sent the price down to 0.7740/16.
USD/CAD was close to breaching a combination of the 55 and 100-day SMAs, but at the moment is challenging the nearby resistance zone at 1.0267/51.
The currency pair attempted to breach Apr 11 high yesterday, but in the end turned out to be unsuccessful at sustaining the rally.
Pair is facing with significant difficulties while still trying to recover at least of the losses experienced in the last 2 weeks.
Pair is being supported by a cluster of levels located from 98 to 97 JPY.
At the moment pair is facing a major resistance area starting at 1.56 (200-day SMA, Bollinger band and Fibonacci (50% of January to March, 2013, move) retracement).
At the moment pair is aiming at the major resistance at 1.33.
USD/CAD did not fully erode a key for the short and medium-term outlook support at 1.0211/1.0188, but also did not confirm willingness to rebound from it, leaving us in uncertainty.
NZD/USD has already retrieved the pips lost over the weekend by swiftly recovering from 0.7820, but the pair stands on a shaky ground and we therefore anticipate a subsequent drop, down to 0.7740/16, an up-trend line that is reinforced by the weekly and monthly S1 levels.
The currency pair started this week 100 pips away from the level it ended the past week, a fraction above the three-year low at 0.9387.
At the end of the last week we started to have doubts whether the up-trend support line will be capable of withstanding exorbitant selling pressure.
Pair started the week above the last weeks closing level.
Looking in to the pairs' activity in the last few days it seems that it is posing for a rally.