Although NZD/USD has not yet decisively breached the support at 0.8317/10, there are almost no doubts that the weekly pivot point, together with the monthly R2, will fail to halt the pair from moving farther south.
Despite USD/CAD being in the proximity of the tough support levels, there is no bullish activity observed at the moment.
For the time being AUD/USD is supported by the area at 0.9404/0.9379, but nevertheless hesitates to rally, even though an overwhelming majority of technical indicators on a daily time-frame are giving ‘buy' signals.
EUR/JPY remained on a bearish track and slid even lower today, being unable to rise beyond the resistance at 133.81/72.
Area through which the pair plummeted it the end of the last week (0.913/17 ) is acting as a very strong resistance at the moment.
Short term technicals give indications that pair still has the propensity to trail lover.
Pair seems to be recovering after strong sell off in the end of the last week and aiming at 1.615 once again.
Recent moves are showing signs of increased downside risk of the pair.
Having lost its bullish momentum, NZD/USD is slowly grinding lower after peaking at 0.8435 on Sep 19, though technicals on all three relevant time-frames are pointing north at the moment.
As it turned out, a recent breach of the long-term moving average (for 200 day) was insufficient to change the outlook from positive to negative, especially considering that the major up-trend support line at 1.0209 was not violated.
Taking into account that the resistance at 0.9508, being the 38.2% Fibonacci retracement of the April-August decline, remains intact, the medium-term risks are still assumed to be tilted to the downside.
The previously noted rising trend-line (have preserved topicality for more than a year), which created significant resistance near the monthly R2 at 134.49, did not allow the Euro to appreciate any more, sending the currency towards the May high at 133.81.
Pair ended the last week with a major sell off, but seems to have stabilized for now.
Pair started the week in a calm fashion, but it was evident that 20-day SMA is causing some turbulence.
Pair finished the week with a mild sell off to dip 1.60 which seems to be still weighing on the pair.
Pair remains in the boundaries of the accelerated uptrend, but seems to be loosing potential as monthly R2 is keeping the pair depressed.
Although there are now even more bullish technical indicators than yesterday, NZD/USD remains at the same place—just beneath the weekly R2.
At the moment USD/CAD is trying to restore the bullish outlook, being that recently the rate has closed below the long-term moving average, thereby casting doubt on the ability of the pair to rebound from the rising trend-line that is drawn through all of the major troughs of the last 12 months.
A cluster of resistance levels at 0.9525/08 successfully withstood AUD/USD's assault, sending the currency pair towards the weekly R1 at 0.9420.
The resistance at 134.59/49, composed of the weekly and monthly R2 levels, along with the up-trend line (in force since last year's July), managed to completely nullify the bullish momentum, keeping today's fluctuations near the open price.
Pair seems to have stabilized and remains around 91 cent mark.
Pair has recovered all of the losses caused by the major sell off few days ago and at the moment is hovering above the 20-day SMA.
Pair did not manage to advance further as bearishness, which could be felt few days before the recent jump, seems to have caught up.
Pair's skyrocketing was met with some resistance yesterday as it seems to be struggling with monthly R2.