Following an unsuccessful attempt to breach the 200-hour SMA and the weekly PP at 1.41 early on Thursday, the bearish sentiment started to guide the Sterling lower.
Downside risks dominated the common European currency was on Thursday, as rather disappointing Euro zone's PMI and German factory orders restricted the pair from breaching the 55-hour SMA.
The New Zealand Dollar continues moving in an ascending channel against the US Dollar. The bullish momentum during this short period has been directed by the 55– hour simple moving average.
The downside risk continues to prevail in the market as of Thursday's. Bears continue their dominance over the currency pair. However, the decline has been temporarily stopped by the weekly S2 at 1.2760.
Bears pick up momentum after the AUD/USD exchange rate hit the upper boundary of a junior ascending channel. Nevertheless, the movement of the currency pair tallied with the descending dominant channel.
The common European currency has been moving in a narrow channel against the Japanese Yen since April 1. The EUR/JPY pair movement was supported by the combination of the weekly and the monthly pivot points near 130.80.
The first part of Wednesday's trading session was spent in a calm manner, as the yellow metal was moving along the 55-hour SMA.
The US Dollar continues moving in a narrow ascending channel against the Yen.
GBP/USD has failed to pick up momentum after the Easter holidays, as it has remained trading in a range between 1.4020 and 1.41.
The Euro continues to move in a ranging motion against the US Dollar for the fifth consecutive session.
The New Zealand Dollar has been strengthening against the US Dollar. By the middle of Wednesday's trading session, the currency pair has moved past a resistance cluster set by the combination of the weekly and the monthly pivot points near the 0.07253 regions.
The trade tension between the US and China continues to weaken the US Dollar against some other major currency. By the end of Tuesday's trading session, the USD/CAD currency pair has decline further south.
The decline of the Australian Dollar against the US Dollar continues. The currency pair has been trading in several descending channels, the most important of which is a three-month dominant pattern.
The single European currency has been trading inside a medium-scale triangle pattern against the Japanese Yen. The currency pair has twice tested the upper boundary of the pattern.
Following a sharp up-move on Tuesday which was caused primarily by weaker US Dollar, the yellow metal surrendered some of its positions during the previous session.
The US Dollar was guided by strong upside momentum on Tuesday.
Despite showing high volatility, GBP/USD remained located above the 55-hour SMA on Tuesday and has therefore maintained its movement in a narrow ascending channel.
EUR/USD remained stranded between the 55– and 100-hour SMAs and the senior channel on Tuesday morning.
The New Zealand Dollar has maintained its gradual move upwards against the Greenback. The currency pair has continued to be trading in the junior ascending channel.
After hitting the weekly pivot point at 1.2942 on Monday, the US Dollar began to decline against its Canadian Dollar. However, this fall was stopped by a dominant ascending channel.
Downside risk dominated the Aussie yesterday. However, a strong bullish momentum took control of the market on Tuesday.
The first part of Monday's showed lack of volatility, as the market was consolidating. However, by the middle of the trading day, a strong bearish momentum prevailed and made the rate to breached a triangle pattern.
Strong upside risks have dominated the given pair since late Thursday.
The first part of Monday's trading session showed lack of volatility, as bulls were restricted by the 55-hour SMA.