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.
It seems that pair has moved in to a certain cycle—few days of gains, one day of minor loses.
After a week or so of sessions with significant (100 pips and more) moves pair seems to be calming down.
NZD/USD is still carrying the inertia it received after hitting the falling resistance trend-line at 0.8086.
We were ready to see a sell-off from the weekly pivot point, but the buying pressure is keeping the pair afloat near today's open price.
Currently we see implications of the recent failure of bulls to take the price above 0.9843/25 and thus confirm a reversal.
EUR/JPY has just fallen to a new low at 129.76, showing that it is too heavy at the moment to continue its long-term bullish trend.
Support zone at 0.9467/30 confirmed its topicality for the market, but in the end, judging by the recent price action, does not look solid enough to change USD/CHF's direction, a scenario mentioned yesterday.
Even though 99.98/42 has not yet been breached, it is probably going to let USD/JPY to step lower.
It seems that the Cable will carry on advancing forward, as it has just gained a foothold above the former resistance at 1.5308/1.5260, which now acts as the support, according to the change in polarity principle.
Despite the presence of the 200-day SMA EUR/USD sticks to its upward course, being close to ending the day above 1.3096/70.
Yesterday's surge came to an abrupt halt as soon as NZD/USD reached the bearish resistance line that may be drawn through the highs posted since May 13.
The downward momentum USD/CAD received after encountering 1.0357 was sufficient in order to deliver the price to the support at 1.0295/67, which in turn is not willing to give in at once.
As feared, AUD/USD's surge from the 2012 low at 0.9577 did not prove to be sustainable, failing to extend up to the weekly R2 at 0.9783, let alone May 21 high at 0.9843, although there is still a chance of such a move in the short term.
Once EUR/JPY dropped down to the support at 130.07/129.57, a strong rally was triggered.
A struggle between the bulls and bears continues at the resistance formed by the 200-day SMA.
USD/CHF was unable to cling to the support at 0.9567/44, but apparently has better chances at preventing development of the decline at 0.9469/67, which consists of the weekly S1 and 55-day SMA.
Similarly to what was happening early April, USD/JPY dipped below the rising support line, thus endangering its upward tendency.
GBP/USD disregarded a number of strong resistances yesterday and managed to settle above a support zone at 1.5305/1.5265, opening new opportunities for itself.