NEW YORK (TheStreet) -- The euro-dollar currency pair (EURUSD) continued to weaken late last week as it stayed contained under resistance at 1.2500. This week, the bias remains bearish, and traders who are not already short can look to sell from resistance if the price moves higher.
The resistance zone is between 1.2500-1.2600 as a potential area to watch for price action sell signals this week if the price rotates higher.
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The pound-dollar currency pair (GBPUSD) lost significant ground last Friday following a reversal bar. This week, the outlook for this pair remains bearish as long as the price holds below the 1.5825-1.5875 resistance area. Traders can look to sell on strength this week if the price is contained under that resistance area.
The Australian dollar-dollar currency pair (AUDUSD) began falling again on Friday following the bearish pin bar sell signal that formed last Thursday. Expect more downside for this pair in the coming days and weeks, especially because there's no key support until down near 0.8050.
The New Zealand dollar-dollar currency pair (NZDUSD) has shown an unwillingness to push back above resistance at 0.7975 recently, revealed by the multiple bearish pin bars that have formed just below that level over the last six days. There could be more downside movement in this pair, and the next key support area isn't seen until down near 0.7700-0.7660.
At the time of publication, the author held no positions in any of the stocks mentioned.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.