Even though both British and the US Manufacturing PMIs matched with experts' forecasts, the currency exchange rate did not manage to reach the weekly R2 located at the 1.3264 level.
Contrary to expectations, an announcement of the US Manufacturing PMI caused only an eight basis points market reaction.
The New Zealand Dollar suffered losses against the US Dollar during the first half of Tuesday's trading session. The currency pair even broke out of the ascending channel pattern to the downside.
During the last two trading sessions the US Dollar has been kept lower against the Canadian Dollar by the resistance of the 200-hour SMA.
The Australian Dollar has broken out of the short term triangle pattern to the downside against the US Dollar.
The common European currency reached the resistance of a ascending triangle pattern against the Japanese Yen
After a notable surge on Friday, the last day of July the bullion spent in a steady horizontal movement against the American Dollar.
In the second half of Monday the American Dollar continued to move along the 20-hour SMA and the former triangle's upper resistance line.
Contrary to expectations, the currency exchange rate left a rising wedge formation in the northern direction straight through the weekly R1 at 1.3200.
The Euro is continuing to advance against the American Dollar in a rising wedge pattern.
Beginning of the new trading week, the currency exchange rate started slightly below the monthly R2 located at the 0.7535 level.
An announcement of the Canadian GDP last Friday strengthened the Loonie and helped the currency pair to slide to the 1.2421 level, from which it started Thursday's surge.
After reaching the 0.7941 level last Friday, the currency pair resumed the surge towards the weekly R1 that was located near 0.8010 and made a successful rebound from it.
In accordance with expectations, the new trading week the currency exchange rate started near the 129.60 level, which is now located slightly below the updated weekly PP as well as the 200-hour SMA at 129.76.
An announcement of the US Advance GDP last Friday resulted in a 0.76% increase of the yellow metal price.
In accordance with expectations, boundaries of a symmetrical triangle proved to be not strong enough to confine the falling Greenback shortly after announcement of the US Advance GDP.
The currency exchange rate continues to gradually climb upstairs in a rising wedge pattern.
Beginning of new trading week the currency rate started above multiple technical indicators, such as the 100% Fibonacci retracement level, the updated weekly PP and the 55-hour SMA at 1.1716.
The NZD/USD moved slipped in line with expectations. Namely, it tried to break through the 50% Fibonacci retracement level located at 0.7457.
Second half of Thursday the currency rate spent in a three consecutive spikes that amounted to 40, 35 and 28 basis points and, altogether, drove the pair though the weekly S1 at 1.2476, the 55- and 100-hour SMAs, the weekly S2 at 1.2552 and the 200-hour SMA at 1.2561.
In line with expectations, in an attempt to restore lost positions, the currency pair has, firstly, slipped down to the 0.8001 level and, secondly, to the 0.7964, which represented an upper trend-line for the preceding pattern.
Due to the presence of a strong resistance level formed by the weekly and monthly R1 at 130.57 and 130.72, the currency exchange rate entered into a downfall, which lasted five hours until the pair has reached the 200-hour SMA at 129.65 that was backed additionally backed up by the weekly PP at 129.57.
The consolidation of the gains of the yellow metal was short lived, as the combined support of the 55 and 100-hour SMAs managed to stop the fall and immediately reverse it on Thursday.
On Thursday, the US Dollar was driven by bulls that pushed the given currency through the 100– and 55-hour SMAs and the monthly PP.