The New Zealand Dollar surged by about 100 base points against the US Dollar on Wednesday. The exchange rate was supported by the 50– and 100-hour SMAs during yesterday session.
The USD Dollar plummeted about 115 base points against the Canadian Dollar on Wednesday. The currency pair breached both the 50– and 100-hour SMAs at 1.3280 and 1.3243 during yesterday's session.
The Australian Dollar surged on Wednesday trading session and reached a resistance level formed by the monthly pivot point at 0.7328.
The single European currency appreciated about 100 base points against the Japanese Yen on Wednesday. The currency pair dashed through a resistance cluster formed by the weekly and the monthly PPs at 128.95 during the end of yesterday's session.
The New Zealand Dollar appreciated by about 56 base points against the US Dollar on Tuesday. The exchange rate breached both the 50– and 100-hour SMAs near 0.6800 during Tuesday's session.
The US Dollar appreciated about 90 base points against the Canadian Dollar on Tuesday. However, after hitting a resistance level set by the weekly R1 at 1.3329. the currency pair made a U-turn down.
The Australian Dollar depreciated about 70 base points against the US Dollar on Tuesday. The currency pair tested the monthly pivot point at 0.7200 during yesterday's session.
Positions Today Yesterday % Change Longs 47% 48% -2.13% Shorts 53% 52% 1.89% Indicator 4H 1D 1W MACD
A strong resistance cluster formed by the combination of the 200-hour simple moving average and the weekly PP at 0.6810 pressured the New Zealand Dollar south against the US Dollar.
Upside risks dominated the US Dollar versus the Canadian Dollar on Monday. The currency pair appreciated by about 76 base points during the end of yesterday's trading session.
Downside risks prevailed in the market on Monday, thus allowing the Australian Dollar to depreciated by about 60 base point against the US Dollar during the previous session.
Upside risks dominated the common European currency versus the Japanese Yen on Monday. The currency pair appreciated by about 98 base points during yesterday's session.
The previously discovered descending channel pattern has been fully confirmed. Gold price has declined after encountering the patterns resistance line and declined down to the 1,220.00 level. The commodity price has reached the support of the 50.00% Fibonacci retracement level at 1,220.00. It is expected that the metal will eventually pass the support of the Fibo, as it is expected to
The USD/JPY broke the resistance of the weekly R1 at 113.36 during a second attempt. After the breaking of the resistance the rate surged during the next two hours until it reached the upper trend line of a medium term ascending pattern. The rate's surge was forced into a retracement by the trend line.In general, the exchange rate is expected
As the various simple moving averages approached the currency exchange rate, the GBP/USD plummeted down below the support line of a medium scale ascending pattern. The event resulted in a sharp decline on Tuesday morning.During the decline the pair passed the support of the weekly S1 at the 1.2750 mark. Due to that reason the rate is expected to reach
The common European currency failed to pass the resistance cluster at the 1.1380 level against the US Dollar. As forecast, the event has resulted in a decline. However, on Tuesday morning the currency exchange rate had still not reached its target at 1.13.In general, the rate is expected to reach the 1.13 mark, where a previously pierced through lower