A narrow descending channel pattern is currently pushing the Australian Dollar lower against the US Dollar. The currency pair has declined by 95 pips or 1.45% in value since yesterday's trading session.
The 200– hour simple moving average pressured the common European currency lower against the Japanese Yen on Wednesday. The currency pair declined by 165 pips or 1.38% in value during yesterday's trading session.
On Tuesday, the XAU/USD exchange rate broke the lower boundary of the rising wedge pattern. During today's morning, the rate was testing the resistance formed by the 55– and 100-hour SMAs, as well the monthly R1 at 1,667.00.
Yesterday, the USD/JPY currency pair consolidated in the 104.50 area. During Wednesday morning, the pair maintained its consolidation.
Yesterday, the GBP/USD exchange rate declined to the lower boundary of the medium-term ascending channel at 1.2870. During Wednesday morning, the rate was testing the lower channel line.
On Tuesday, the EUR/USD currency pair re-tested the support level—the monthly R2 at 1.1285. During today's morning, the pair was trading near the given level.
The New Zealand Dollar declined by 79 basis points against the US Dollar on Tuesday. The decline was stopped by the weekly support level at 0.6240 during yesterday's trading session.
The US Dollar appreciated by 172 basis points or 1.27% in value against the Canadian Dollar on Tuesday. The currency pair tested the upper boundary of a dominant ascending channel pattern at 1.3769 during yesterday's trading session.
The Australian Dollar declined by 144 basis points or 2.18% in value against the US Dollar on Tuesday. The currency pair breached the weekly support level at 0.6515 during yesterday's trading session.
The EUR/JPY exchange rate traded between the 50– and 100– hour simple moving averages on Tuesday. The currency pair made about 163 basis points movement during yesterday's trading session.
On Monday, the XAU/USD exchange rate reversed south from the upper boundary of the rising wedge pattern. During today's morning, the rate was testing the lower pattern line.
Yesterday, the USD/JPY currency pair tested the support level formed by the monthly S3 at 101.61. During Tuesday morning, the pair jumped to the resistance level—the monthly S2 and the 100-hour SMA at 104.56.
Yesterday, the GBP/USD exchange rate reversed south from the Fibo 50.00% at 1.3200. During Tuesday morning, the rate was testing the 55-hour SMA near 1.3060.
On Monday, the EUR/USD currency pair tried to surpass the resistance level formed by the Fibo 38.20% and the monthly R3 1.1475. During today's morning, the pair reversed south.
The New Zealand Dollar appreciated by 236 pips or 3.80% in value against the US Dollar on Monday. The currency pair tested a resistance cluster formed by the weekly R1 and the monthly R1 at 0.6434 during yesterday's trading session.
The 50– hour simple moving average guided the US Dollar against the Canadian Dollar on Monday. The currency pair made about 180 pips or 1.35% in value during yesterday's trading session.
The Australian Dollar has surged by 218 pips or 3.37% in value against the US Dollar on Monday. The exchange rate tested the upper boundary of a descending channel pattern at 0.6677.
The common European currency has surged by 283 pips or 2.43% in value against the Japanese Yen since Monday's trading session. The EUR/JPY currency pair tested the upper boundary of a descending channel pattern at 118.70 on Tuesday morning.
On Friday, the XAU/USD exchange rate re-tested the upper boundary of the rising wedge pattern at 1,700.00. During today's morning, the rate was testing the support formed by the 55-hour SMA and the monthly R1 at 1,668.23.
At the previous trading session, the USD/JPY currency pair surpassed the 104.50 level. During Monday morning, the pair tumbled to the 102.30 mark.
On Friday, the GBP/USD exchange rate went up to the 1.3100 level. During today's morning, the rate touched the Fibo 50.00% at 1.3196.
At the end of last week, the EUR/USD currency pair raised to the 1.1350 level. During Monday morning, the pair was testing the resistance range formed by the weekly R1, the monthly R3 and the Fibo 50.00% in the 1.1416/1.1475.
Downside momentum has pressured the New Zealand Dollar lower against the US Dollar since Friday's trading session. The currency pair has declined by 350 basis points or 5.51% in value during this short period.
Bullish momentum has dominated the US Dollar versus the Canadian Dollar since Friday's trading session. The currency pair has surged by 364 basis points or 2.71% in value during this short period.