Despite strong bearish sentiment which prevailed early on Monday, the US Dollar failed to move below the combined support of the 55-day SMA, monthly PP and weekly S1 at 109.40.
GBP/USD has not left the 1.3215/1.3310 range for three consecutive sessions.
The common European currency continues to strengthen against its American counterpart in a short-term ascending channel.
The New Zealand Dollar has been depreciating in a descending channel against the US Dollar after the currency pair hit the upper boundary of a channel down on June 13.
The Greenback continues its movement in an ascending pattern against the Canadian Dollar. By the close of Friday's trading session, the currency pair had formed a new ascending channel as can be observed on the chart.
The Aussie has shown high volatility against the US Dollar on Friday, during this period, the pair breached the weekly pivot point located near the 0.7415 mark. Also, the currency pair is trading in a rising wedge pattern.
Downside risk dominated the common European currency on Friday, as the pair closed the session with approximately 80-pips lost. Along the way, the exchange rate breached the 55– and 100– hour SMAs.
On Monday morning the bullion found support in the lone trend line of a short term ascending channel pattern. However, the surge was unlikely set to continue.
After breaching the strong support line of a dominant ascending pattern, the US Dollar on Monday morning had paused the decline against the Japanese Yen.
The Pound has reached the targeted support cluster near the 1.3220 mark against the US Dollar.
After the breaking of the previously mapped channel down pattern, the common European currency has traded sideways against the US Dollar. However, as the consolidation occurred, a new junior channel pattern was spotted.
The New Zealand Dollar managed to advance 88-pips or 1.29% against the US Dollar since Thursday session. Further upside momentum was disrupted after the pair hit the upper boundary of a descending pattern.
The US Dollar introduced no significant changes to its overall price range against the Canadian Dollar on Monday, as the USD/CAD currency pair remained trading with low volatility.
Upside risk has prevailed in the market since yesterday thus sending the Australian Dollar to advance by 91-pips or 1.24% against the US Dollar.
Bulls managed to regain some of its lost positions yesterday, as the rate bounced off the lower boundary of an ascending trend line and made a breakout. The exchange rate breached the up border of a downtrend channel during the early hours of Friday's trading session.
The yellow metal continues to weaken against the US Dollar for the fifth consecutive session.
As apparent on the chart, the US Dollar respected the dashed trend-line and the monthly R1 at 111.00 yesterday.
The Pound remained rather steady against the US Dollar on Thursday morning due to traders awaiting the BOE Monetary Policy Statement released mid-session.
EUR/USD was pressured lower on Thursday morning by the combined resistance of the 55– and 100-hour SMAs.
The New Zealand Dollar spent the first part of Wednesday's session relatively calm against the US Dollar. This lack of direction changed by the middle of the day when the currency pair fell 60-pips and consequently breached the weekly and the monthly pivot points at 0.6885 and 0.6850.
The US Dollar has maintained its upward tendency against the Canadian Dollar since June 14. Despite trading with low volatility, the Greenback has dashed through the weekly pivot point at 1.3280.
The Australian Dollar has remained stable against the US Dollar on Wednesday. A move above 0.74 was limited by the 55-hour simple moving average which is providing resistance for the pair at 0.73.
The movement of the EUR/JPY exchange rate during the past one week has been guided by a medium-term descending channel. The currency pair was pressured down by the monthly pivot point at 123.00.
Gold remains guided by the 55-hour SMA for the second consecutive session.