In line with expectations, during the previous trading session the currency exchange rate managed to soar to the weekly R2 at 1.1878 and made a subsequent rebound from it.
As described yesterday, the New Zealand Dollar began its descent against the US Dollar down to the combined support of the weekly S1 and monthly PP after breaking out of the medium term ascending channel.
The USD/CAD currency exchange rate broke out of the triangle pattern soon after the analysis was published by the Duakscopy Research team.
After the breaking of the ascending channel pattern the Australian Dollar continued to fall against the US Dollar.
The common European currency recently encountered a dominant resistance line against the Japanese Yen.
The first half of previous trading day the yellow metal spent in a confident upward movement, supported by the 55-hour SMA near 1,267.26 as well as the release of a number of disappointing US macroeconomic data.
Contrary to expectations, the weekly S1 located at the 110.11 level proved to be a very strong support barrier.
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.