As expected, a resistance level formed by the upper boundary of an ascending channel pattern hindered the New Zealand Dollar to gain further strength against the US Dollar on Thursday.
The US Dollar has been trading in a one-week descending channel pattern the Canadian Dollar. The exchange rate reversed from the lower boundary of the channel pattern at 1.3112 and started moving sideways.
The AUD/USD currency pair remained stable on Thursday, as it was trading near the upper boundary of a dominant descending channel during the previous trading session.
Downside risks prevailed in the market on Thursday, thus sending the common European currency to breached both the 50-, 100-, and 200-hour SMAs and the 50.00% Fibonacci retracement level.
Upside risks prevailed in the market on Wednesday, thus sending the New Zealand Dollar to appreciated about 86 base points against the US Dollar.
Bearish sentiment dominated the US Dollar on Wednesday. The Greenback depreciated about 162 base points against the Canadian Dollar during Wednesday's trading session.
Bullish sentiment dominated the Australian Dollar versus the US Dollar on Wednesday. The currency pair gained about 1.72% of its values during Wednesday's trading session.
The Eurozone single currency appreciated against the Japanese Yen on Wednesday. The exchange rate breached January swing high of 125.31 at the end of yesterday's trading session.
The Zealand Dollar depreciated about 40 base points against the US Dollar on Tuesday.
The Greenback traded sideways movement against the Canadian Dollar on Tuesday. The USD/CAD currency pair was moving within the upper and the lower boundary of a horizontal channel.
The Australian Dollar bounced off a support cluster formed by the combination of the weekly and the monthly pivot points and the 200-hour simple moving average at 0.7150 during the Asian session on Wednesday.
The price movement of the single European currency against the Japanese Yen was guided by the 50-hour simple moving average on Tuesday.
The New Zealand Dollar edged lower against the US Dollar on Monday. The decline was stopped by the 50-hour simple moving average at 0.6820 at the end of the previous trading session.
The US Dollar gained about 0.62% of its values against the Canadian Dollar on Monday. The currency pair bounced of its lower boundary of a junior descending channel pattern at 1.3200 during yesterday's trading session.
The Australian Dollar depreciated about 63 base points against the US Dollar on Monday. The currency pair tested a support cluster formed by the combination of the weekly and the monthly pivot points at 0.7152 as predicted.
The common European currency has been trading in a junior ascending channel pattern against the Japanese Yen since January 24. The pair tested the upper boundary of the channel pattern at the end of last week trading session.