In line with forecasts, an improvement in consumers' sentiment dragged the pair to the weekly PP at 1.1864, while the subsequent news that two hesitating senators agreed to join other Republicans to support tax reform pushed the pair even further to the monthly R1 at 1.1826.
The New Zealand Dollar was pressured by upside risks on Monday, thus resulting in a 49-pip appreciation against the US Dollar within one session.
After testing the 1.2680 area on Monday, bulls prevailed and thus sent the US Dollar for a 85-pip surge up to 1.2770.
Despite surging above the upper boundary of the senior channel mid-Monday, the Australian Dollar had returned back in the given channel in the evening.
Bears dominated EUR/JPY on Monday. As a result, the Euro lost 89 pips against the US Dollar, thus testing the 100-hour SMA circa 132.15 by late evening.
In line with expectations, the yellow metal continued to rally against the buck on Monday.
After making a rebound from the upper edge of the currently active descending channel, the pair slipped through the 38.2% Fibonacci retracement level and landed on the weekly S1 at 110.84.
During previous trading session the cable surged to resistance zone located at 1.3370-1.3380 and then pulled back to the 1.3220.
After reaching the 1.1960 level the currency exchange rate returned back to the 55-hour SMA located at 1.1900, as expected.
Following the prevalence of bears on Friday, the New Zealand Dollar hit the 100-hour SMA and the weekly PP circa 0.6860 early in this session and turned to the upside.
After testing a significant resistance cluster formed by the monthly PP, the 100– and 200-hour SMAs circa 1.2750 mid-Friday, the bearish sentiment took the upper hand and guided the US Dollar lower.
As apparent on the chart, the Aussie was testing the senior channel for two consecutive sessions, thus signalling to a possible breakout.
Contrary to expectations, the common European currency was driven by strong upside momentum mid-Friday, thus surging 92 pips within four hours.
During the previous trading session the exchange rate indeed formed and made a breakout from junior symmetrical triangle pattern.
In line with expectations, by the end of the previous trading session the currency rate has reached the upper boundary of a currently active descending channel.
On hourly chart the British Pound is continuing to gain value against the Dollar in a two-week long ascending channel.
Even though the Euro climbed more sharply than expected amid the news that Angela Merkel agreed to form large coalition with the Social Democrats, the movement remained in line with general expectations.
Traders were reluctant to push the New Zealand Dollar past the psychological 0.69 mark on Thursday, thus allowing for the bearish sentiment to take over the market.
Following a disappointing Canadian data release mid-Thursday, the US Dollar strengthened 31-pips against the Loonie within one hour.
After testing the weekly R1 at 0.7634 mid-Thursday, the Aussie started trading along the upper boundary of the senior channel.
The common European currency was stranded between the 55– and 100-hour SMAs during the second half of Thursday.
On the one hand, in first half of the previous trading session the exchange rate expectedly tried to slip to the weekly PP at 1,287.22.
Due to beginning of Thanksgiving holidays in the United States, which led to reduced liquidity, the currency rate indeed spent previous trading session between the weekly S1 at 111.40 and support at the 111.10 level.
In line with expectations, the cable continued to gradually moving to the bottom after making a rebound from the upper edge of a currently active ascending channel that was additionally secured by resistance line at the 1.3338 mark.