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.
Pair started the week 40 pips below the last weeks closing level and hasn't really moved anywhere.
Pair started the week slightly below 1.32 and has been trying to advance above it since the beginning.
A test of the support at 0.7908/0.7885 initiated a 200-pip rally, but the down-trend resistance line, combined with the 20-day SMA and weekly R1, coped with increased demand for the New Zealand Dollar, returning it back to the mentioned area.
None of the nearest supports were prepared for such a powerful downward impulse and failed to stop the drop at 1.0308/1.0267 and 1.0231.
AUD/USD has successfully breached a formidable support at 0.9577, but there may be an even more serious test of the bearish momentum ahead.
We were short-term bearish on EUR/JPY, but did not expect the currency pair would fall through the supports at 127.85/41 and 126.80 so easily.
Although 100-day SMA made the pair to lose 200-pips of its value yesterday it found support at the monthly S1 at 0.925.
Today, as yesterday, pair has dipped to 96 JPY mark.
Yesterday pair appreciated all the way to 1.56, but did not manage to breach 200-day SMA slightly above the mentioned level and at the moment is hovering slightly below it.
Rather unexpectedly pair received strong bullish impetus from 200-day SMA which sent it more than 200 pips higher to 1.33.
Today NZD/USD is moving much more cautiously than yesterday, but is preserving the downward direction.
Not without difficulties, but USD/CAD is about to end the second day in red after an unsuccessful hurried attempt to penetrate 1.0309/1.0267, although it was far from reaching the lower edge of the area.
A quick test of 0.9469/45 did not bear fruit, as the price has already returned to its previous close.
A shallow rally following a test of the support at 129.95/58 predisposes to an increase in the bearish pressure that should push the price lower, towards the rising support line at 127.85/41.
In the past four days pair has tested 0.94 level three times already.
For the pats few weeks pair has been showing clear, bearish, tendencies.