NZD/USD has posted a new 16-month high at 0.8533, but is struggling to preserve upward momentum, facing strong selling pressure.
USD/CAD did not even require a pullback down to the 200-day SMA at 0.9940 in order to fully regain bullish impetus and spike up to the interim resistance at 1.0089/71, which guards a subsequent level at 1.0107/06—a key to a rally up to the upper edge of the bullish channel the pair has been trading within for the past six
As expected, AUD/USD proved to be unable to gain a foothold above 1.0343/36 and is declining.
EUR/JPY swings from side to side this month, being trapped by a 34-month high at 127.94 from above and a support level at 123.29 from below.
Yesterday USD/CHF finally breached into an area bounded by 55-day and 100-day SMA.
USD/JPY pair depreciates for a fourth consecutive day and this is a situation, which market has not seen for months.
The Cable demonstrates extremely bearish sentiments, as the price decreased by more than 300 pips during the last week.
EUR/USD lacked bullish impetus to overcome the 20-day SMA and was pushed down yesterday.
At the moment NZD/USD is wading through a resistance zone that stretches from 0.8499 down to 0.8449, neglecting the fact that the currency pair was unable to exceed this zone for the last 17 months, since September of 2011.
USD/CAD remains steady, hanging just above 1.0008/02, the 20-day SMA and a weekly pivot level. For now the price is in no hurry to get ready for a trip north, but the prospects are from neutral to positive.
AUD/USD has managed to surpass 1.0343/36 yesterday, with a daily high posted close to the resistance formed by the 20 and 200-day SMAs.
Apparently, the bulls have lost a local duel to bears around a resistance level at 126.45, an event which prolonged the consolidation phase that is taking place between a 34-month high at 127.94 and a support line at 123.29.
After a major 130 pip rally a week or so a go pair has been stranded between 0.915 and 0.920.
It seems that pair has got in to cycle were every trading week is started with few bearish candles which are recovered in few upcoming days.
After a major comeback from monthly S1 at 1.557 pair dipped once again, this time from weekly S1 at 1.567 and at the moment is trading outside the Bollinger band which is the first resistance level at 1.554.
Pair failed to consolidate at the higher part of the Bollinger band as yesterday it was rejected by 20-day SMA and at the moment is hovering below the monthly PP at 1.3408.
Our previous estimations proved to be correct, as the currency pair has risen above the former resistance at 0.8388/73.
A re-test of 1.0087/71 has triggered a sell-off that was in turn stopped at 1.0004/02, where the current bearish correction should come to an end.
A second attempt to push through 1.0243/30 was also unsuccessful, resulting in a 100-pip rally to the nearest resistance level at 1.0343/36 that is containing bulls, but with certain difficulties.
EUR/JPY did not post two consecutive days of gains, being rejected by 126.45, but is still well-positioned to maintain the upward course.
GBP/USD pair made a deep spike down, as the price touched the monthly S1 level at 1.5568 and immediately retreated back to the Bollinger bands area.
Even though yesterday's movement looked very bullish and determined to overcome the 100-day SMA, at the end of the day the price dipped beneath the 100-day and 20-day SMAs and currently is fluctuating in a free area just beneath them.
After an outstanding beginning of the week and a new high, the pair gradually retreats lower.
Yesterday EUR/USD continued to appreciate and stepped notably up.