On Friday, the pair fluctuated quite intensively amid contradicting reports that the US Senate is ready to vote for tax reform, while General Flynn pledged guilty to lying to the FBI.
The general direction of the New Zealand Dollar during the previous session was tended south.
As apparent on the chart, bears were dominating the market during the past 24 hours.
The second half of Thursday's session was relatively calm for the Australian Dollar, as the pair was fluctuating near the lower boundary of a two-week channel.
The common European currency was driven by substantial upside risks on Thursday, as it appreciated 121 pips during the given session.
Formation of a minor pennant pattern, indeed, pushed the further downwards. However, the bottom edge of a junior ascending channel was expected to withhold the pressure.
Unfortunately, neither existence of a rising wedge formation, nor the weekly R1 or the 50% Fibonacci retracement level stopped the rate from breaking to the top.
In accordance with expectations, in first half of previous trading session the cable made a minor pull back to 1.3440 and then resumed the surge.
In line with expectations, in first half of previous trading session the pair slipped to the bottom and, after finding support at the 200-hour SMA that was located slightly above the lower trend-line of a junior ascending channel, resumed an active surge.
Following a reversal from the weekly R1, NZD/USD began moving lower and consequently breached a two-week ascending channel.
The US Dollar has managed to maintain its strong position against the Loonie for the third consecutive session even despite signs of a possible reversal.
During the previous trading session, the Australian Dollar was fluctuating between the 200-hour SMA and the monthly S1 in the 0.7592/0.7558 territory.
Following a 45-pip surge mid-Wednesday, the common European currency did not lose its upside momentum and thus managed to surge up to the 133.23 mark—a level that had already provided an unbreakable resistance last week.
An estimated growth of the US GDP expectedly strengthened the buck and reduced demand for the safe haven metal even though the plunge was not expected to be so sharp, as southern side was reliably protected by two moving averages that were moving along the trend-line of a rising wedge formation.
Even though there were attempts to push the pair back to the 55- and 100-hour SMAs, anticipation of the upcoming US GDP data release and the event itself inched the buck higher.
On the one hand, the cable has reached the forecasted target at the 1.3406 level. On the other hand, the upper boundary of the junior ascending channel that was backed by the weekly S1 could not constrain the further surge.
As it was forecasted yesterday, the resumption of surge towards the 1.1910 level was halted in resistance zone that contained both the weekly PP with the 55-hour SMA as well as the 61.8% Fibonacci retracement level and the 100-hour SMA.
The New Zealand was driven primarily by downside risks on Tuesday as a result of which it fell back down to the lower channel boundary circa 0.6890.
As apparent on the chart, the US Dollar has appreciated substantially against the Loonie during the past two trading sessions.
Following Tuesday's session of non-directional fluctuations between the 55-, 100– and 200-hour SMAs and the weekly PP, the Australian Dollar breached the latter two and edged lower.
After being squeezed between the 55– and 200-hour SMAs during the first part of Tuesday, bulls gained strength and thus sent EUR/JPY for a fall down to the weekly S1 at 131.58—a level that likewise intersects with the lower boundary of a two-week channel.
The second half of previous trading session the exchange rate spent in horizontal movement. A release of better than expected US consumer sentiment data pushed it to the bottom, while another launch of ICBM by North Korea gave a reason to continue the surge.
For the first time in many weeks, reports about another ballistic missile launch made by North Korea did not led to appreciation of the Yen.
As it was warned yesterday, publication of encouraging news from the United States one after another led to notable appreciation of the buck whose surge was stopped only is support zone located around the weekly S1 at 1.3231.