NZD/USD was characterised by a lack of momentum during the past trading session, as the Kiwi remained near the bottom boundary of the descending channel.
USD/CAD has been appreciating for the past three trading sessions even despite strongly converging technical indicators, thus being located near the weekly R1 at 1.2701 mid-Wednesday.
As apparent on the chart, AUD/USD was testing the weekly S1 and the lower channel boundary circa 0.7780 during most of Tuesday.
Despite showing signs of a possible reversal, the common European currency managed to edged even higher on Tuesday and reach its September high of 134.30 (the highest mark since December 2015).
In result of the previous trading session, the exchange rate has finally made a breakout from the medium-term ascending channel.
A number of failed attempts to break through the 114.00 resistance level as well as inability of the rate to slip below the rising 55- and 100-hour SMAs confirmed an assumption that the pair is fluctuating in an ascending triangle pattern.
Due to growing fears about hard Brexit possibility the Sterling depreciated against the Dollar by 104 basis points.
Previous trading session was marked by attempt to elevate the pair above the 1.1780 level amid concerns over President Trump's tax reform.
The New Zealand fell to its five-month low of 0.6910 mid-Tuesday when investors started to react negatively to uncertainty that could be caused by the Labour coalition's policies.
Contrary to expectations, USD/CAD did not initiate a retreat from the upper channel boundary but still managed to edge higher, even despite technical indicators that are clearly going south.
The Australian Dollar maintained a relatively stable position against its American counterpart on Monday, as it was fluctuating between the weekly PP and the lower boundary of a short-term channel down during the whole session.
Monday's trading session was dominated by bears who pushed the rate down to the 100-hour SMA, the weekly PP and the 23.8% Fibo circa 133.20.
On Tuesday morning initially it looked like the yellow metal has broken the dominant ascending channel. However, the situation is quite different.
After reaching the high level above the 114.00 mark on Monday in the aftermath of the Japanese election the USD/JPY currency pair retreated back down to the support zone near the 113.20 mark.
On Tuesday morning the Pound had already lost the previously gained ground against the US Dollar, as the currency exchange rate traded below the 1.32 level.
There are three facts that need to be described to update the situation.
The New Zealand Dollar managed to recover some lost positions against the Greenback early on Monday and thus return near its mid-Friday level.
Following the release of the Canadian CPI and Core Retail sales at 1230GMT on Friday, the US Dollar continued to push higher up to the monthly R1 at 1.2658.
The Friday's trading session was dominated by bears, as the rate fell around 68 pips during the given time period.
The Euro was trading in a minor consolidation phase in the 133.60/90 territory on Friday, thus demonstrating a rather uneventful ending of the week.
Previous trading week the exchange rate ended at the intersection of the 61.8% Fibonacci retracement level and the bottom boundary of two ascending channels and was ready to make a rebound.
In accordance with experts' expectations, the Japanese Prime Minister Shinzo Abe and his Liberal Democratic Party secured their seats for another term.
Despite a sharp fall after release of worse than expected data about the UK retail sales, the cable managed to bounce off from the bottom trend-line of a large ascending channel and by Monday morning restore lost positions returning back to the 1.32 level.
Due to anticipation of the ECB meeting as well as referendum on extension of autonomy in Lombardy and Veneto regions the common European currency slipped against the Dollar to the 1.7520 mark.