Australia's currency fell by 56 basis points or 0.74% against the Greenback on Monday. The decline was stopped by the weekly pivot point at 0.7557 during Monday's trading session.
The single Eurozone currency rose by 79 basis points or 0.63% against the Japanese Yen on Monday. The currency pair tested the 126.98 level during the Asian session on Tuesday.
In regards to the near term future, the metal's price was expected to once again test the resistance of the 1,895.00/1,907.00 zone. In the case of this resistance failing, the pair would find resistance in round price levels. For example, the 1,920.00 level could provide resistance, as it did in October.
In the near term, the rate was expected to test the resistance of the zone near 103.70. If this level fails to hold the rate down, the pair should reach for the 103.90 level, which kept the pair down in December 16 and 21.
In the near term future, the rate was expected to be pushed up by the 100 and 200-hour simple moving averages. A surge should reach for the combined resistance of the 55-hour SMA and the upper trend line of the recently added channel down pattern. If the described resistance levels hold, the rate should test the support of the 100 and
On Monday, the EUR/USD broke the resistance of the descending trend line, which kept the rate down since December 17. However, the following break out up was stopped by the resistance of the high level of December 21 and 22. By the start of Monday's US trading hours, the currency exchange rate had retraced to the support of the
The New Zealand Dollar is currently trading in a narrow ascending channel pattern against the US Dollar. The currency pair has surged by 57 points or 0.81% since December 24.
The US Dollar is gradually edging lower in a descending channel pattern against the Canadian Dollar. The currency pair declined by 30 points or 0.24% during the morning hours on Monday.
The 50– hour simple moving average has guided the Australian Dollar higher against the US Dollar since December 22. The AUD/USD currency pair breached the 0.7620 level during the Asian session on Monday.
The common European currency surged by 47 points or 0.37% against the Japanese Yen during the Asian session on Monday. The EUR/JPY currency pair tested the upper boundary of a descending channel pattern at 126.48.
Yesterday, the XAU/USD exchange rate declined to the support formed by the 200-hour SMA and the Fibo 23.60% near 1,860.00.
Yesterday, the USD/JPY currency pair reversed south from the 103.70 level.
Since Tuesday, the GBP/USD exchange rate has been trading sideways between the weekly S1 and the weekly PP, located at 1.3329 and 1.3477 respectively.
On Tuesday, the EUR/USD currency pair reversed north from the support level—the weekly S1 at 1.2159.
Since Tuesday, the XAU/USD exchange rate has been trading below the resistance provided by the 55-hour SMA near 1,883.00.
Yesterday, the USD/JPY currency pair failed to exceed the 200-hour moving average near 103.80. During Tuesday morning, the pair was testing the resistance formed by the weekly PP and the 55-hour SMA near 103.45.
Since Monday, the GBP/USD exchange rate has been testing the resistance provided by the weekly PP and the 100-hour SMA near 1.3480.
On Monday, the EUR/USD currency pair reversed north from the 1.2150 mark. During today's morning, the pair reversed south from 1.2250.
The New Zealand Dollar edged higher by 98 pips or 1.40% against the US Dollar on Monday. The surge was stopped by the 50– and 100– hour SMAs at 0.7100 during yesterday's trading session.
The US Dollar declined by 107 pips or 0.83% against the Canadian Dollar on Monday. The currency pair tested the lower boundary of an ascending channel pattern at 1.2826 during yesterday's trading session.
The AUD/USD exchange rate rebounded during yesterday's trading session. As a result, the Australian Dollar surged by 113 pips or 1.51% against the US Dollar on Monday.
The EUR/JPY currency pair bounced off the lower boundary of an ascending channel pattern at 126.00 during yesterday's trading session. As a result, the Euro surged by 65 pips or 0.51% the Yen on Monday.
During today's morning, the XAU/USD exchange rate reversed south from the 1,905.00 mark.
During Monday morning hours, the USD/JPY currency pair pierced the resistance provided by the 200-hour SMA near 103.80.