The Kiwi goes back down

The NZD/USD was not able to complete the breakout-and-pullback pattern around the 200 day exponential moving average, blue line, and bounces from the 0.6800 zone to the downside until reaching the 0.6619 level. From the current levels, the price may continue lower towards the 0.6544 zone. To the upside, the 0.6718 or the round number level of the 0.6800 could act once again as resistance. A third scenario that may develop is that the price may stay consolidated at the current levels, due to the fact that it has entered a congestion area.

Pullback on the USD/CAD

The USD/CAD retraces to the 200 day exponential moving average, blue line, around the 1.3400 level. It’s possible that a breakout and pullback pattern is developing around that moving average, therefore the price may try to go back down. The 21 day EMA is showing us that the bearish trend is still in place, especially when the angle of inclination of the EMA is very steep. Be attentive to a possible bearish bounce from the 200 EMA or a breakout of that zone for a visit of the 1.3600 area.

The USD/CAD breaks the 1.3300 level

The rally of oil to the 40 dollars per barrel zone has caused the Canadian Dollar to rally and we can see on the daily chart of the USD/CAD that the pair has broken below the 1.3300 level. The bearish momentum may continue and the pair may reach the 1.3200 level. The 200 day exponential moving average, around the 1.3400 zone could act as resistance in case the price retraces to that area.

Consolidation on the EUR/GBP

The daily chart of the EUR/GBP is showing us that the pair has been consolidating lately, just below the 0.7756 level. The real bodies of the candles are showing us that the pair has been very undecided with low volatility according to the size of the candles. However, a visit to the 55 day exponential moving average, around the 0.7658 level, could cause that moving average to become support and a bounce to the upside could be seen. We should be aware of a possible visit to the 0.7900 level, because the price could bounce to the downside from there.

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The AUD/USD breaks the 200 day EMA

The Australian Dollar versus the US Dollar breaks above the 200 day exponential moving average, around the 0.7261 level and it is possible for the pair to keep its bullish trend, due to the fact that the stochastics still have a long way before entering the overbought territory. Be attentive to a possible formation of the Breakout-and-pullback pattern around the 200 EMA. The 0.7500 level could act as resistance and below the 200 day EMA, the 0.7103 level could act as support.

200 day EMA, good support for the USD/CAD

The USD/CAD has been falling while the Canadian Dollar strengthens and reaches the 200 day exponential moving average, around the round number level of the 1.3400. The bearish trend is still in place as indicated by the MACD indicator, but the 1.3400 zone could act as support. If the price breaks below the 1.3400 level, then the next round number level of the 1.3300 could act as support. To the upside, the only relevant resistance could be the 1.4000 level.