The Antipodean currency, namely the Aussie, managed to reclaim the 0.76 psychological level at the beginning of the week, but with the immediate resistance being strong, unable to edge significantly higher.
For the sixth consecutive day the Euro strengthened against the Yen yesterday, completely erasing Monday's bearish gap.
USD/TRY has been on a general rise since 2008, causing analysts to question what levels will prove a further extension of the uptrend unsustainable and where the ultimate ceiling lies. The yearly trading range was of consolidative nature, forming a rectangle and easily breaking it a few weeks ago, again leaving us to wonder if there is indeed a level
The yellow metal surged on Tuesday morning, as it jumped from 1,276.34 to 1,279.83 and passed the monthly pivot point at 1,279.01.
As was anticipated, the US Dollar outperformed the Yen on Monday, but was unable to climb over the 105.00 major level, despite volatility stretching beyond that area.
The British Pound strengthened against the American Dollar on Monday, reaching its trading range's upper border, namely the 1.2250 level.
The Euro slightly depreciated against the US Dollar on Tuesday morning, as the currency exchange rate was slowly heading for the weekly PP, which is located at 1.0942.
The Kiwi bounced around the newly formed weekly pivot point at 0.7153 against the US Dollar by mid-Monday.
The US Dollar retreated by mid-day on Monday against the Canadian Dollar.
After having touched the six-month up-trend on Friday, the Aussie managed to recover from its intraday low and add ten pips against the US Dollar.
Through all of the previous week the European currency has been outperforming the Yen, climbing more than 200 pips higher.
On early Monday morning the yellow metal had slightly retreated, as it approached a strong support cluster just below it.
In spite of a strong US GDP reading on Friday, the American Dollar still weakened against the Japanese Yen, putting the five-week up-trend to the test.
At the end of the previous week the Sterling managed to post mild gains against the US Dollar, but was unable to reclaim the 1.22 major level.
The common European currency depreciated on Monday morning against the US Dollar, as the currency exchange rate encountered resistance put up by the 20-day simple moving average at 1.10.
The Kiwi fluctuated around the 38.20% Fibonacci retracement against the US Dollar by midday on Friday.
The USD/CAD currency exchange rate was almost unchanged by mid-Friday, as the pair stopped the three consecutive trading session surge.
On Thursday the Australian Dollar weakened against the US counterpart slightly more than anticipated, being that trade closed at 0.7588.
The Euro overperformed on Thursday, having easily pierced not only the immediate resistance cluster, but even the second one, thus, climbing over the ten-month down-trend.
A channel down has been guiding the bearish motion of EUR/SGD for more than eight years now, and it appears that the trend could finally break. While several signals suggest different scenarios, most of them confirm the pair's move closer to the upper trend-line of the channel, threatening to close above the 1.5300/5400 area in the next few years. The
The yellow metal slightly surged on Friday morning, as it was in a yet another rebound from the weekly PP, which is located at 1,263.46.
Relatively strong US data yesterday helped the Greenback to strengthen against the Yen, therefore, to preserve the bullish trend.
The British currency weakened against the US Dollar on Thursday, but remained in its intraweek trading range, namely between the weekly S1 from the downside and the monthly S3 from the upside.
The common European currency continued training below the post Brexit low level of 1.0912 against the US Dollar during Friday morning.