Despite edging higher in the wake of solid earnings data, the Pound failed to sustain its upward momentum on Wednesday and returned near the 1.2850 mark—a level already proven to be a strong support.
Despite the 32-pips appreciation of the Greenback that was caused by a surprising release of information on the US Retail Sales, the currency rate managed to stay within an active descending channel.
By the moment, it is not very clear, whether yesterday's overstep beyond the 1.2748 level represents a correction or a sign of continuation of the surge.
In line with expectations, the Greenback failed to pull the pair below the 0.7813 level. After reaching this minimum point, the currency rate started to move in the opposite direction.
As it was expected, the EUR/JPY currency rate has successfully bypass a combined resistance level formed by the 200-hour SMA and the monthly PP at 129.78, thus continuing to move in an ascending channel.
The bullion reached the targeted 1,270 mark, as the better than expected fundamental data was released during the middle of Tuesday's trading session.
The EUR/USD currency exchange remains predictable, as another target was reached during Tuesday's trading session.
Following a breach of the upper line of the junior channel, the US Dollar continued to appreciate against the Yen near the weekly R1.
Weak UK and strong US fundamentals on Tuesday resulted in a 108-pip fall of the GBP/USD exchange rate within six hours.
In line with expectations, Kiwi continued to lose value against the American Dollar until the pair has reached a support at the 0.7258 level.
The way the USD/CAD moved completely matched with the yesterday's assumption.
As it was expected, the currency pair has reached, firstly, the 0.7861 mark and, then, the 0.7845 level.
In the short-term, an idea expressed yesterday was correct. The currency exchange rate, indeed, started to slip to the bottom and this downside movement could continue, if the pair had not met the 100-hour SMA near 129.04.
The decline of the commodity price continues, as expected. The bullion is reaching for the 1,270 mark, which it will most likely reach during Tuesday's trading session.
As it was expected, the EUR/USD currency pair is continuing the decline. On Tuesday morning the pair suddenly reached the support of the weekly S1, which is located at the 1.1726 level.
During the last trading session, the US Dollar managed to recover some losses against the Yen, as political tensions in the Korean peninsula eased.
Despite forming a triple bottom, the Pound failed to surge against the US Dollar on Monday.
As it was expected, beginning of the new week the NZD/USD pair spent in a relatively horizontal and steady movement.
In accordance with one of the scenarios expressed on Friday, the USD/CAD currency pair found support at the 1.2674 level.
Contrary to expectations, an impulse created by a release of data on the US CPI last Friday was strong enough to drive the currency rate to the 0.7916 level, where it was eventually stopped by the 200-hour SMA.
An early hours of Monday's trading session revealed that the EUR/JPY currency pair has successfully used an upside moment that was created by a release of data on the US CPI last Friday to surge not only to the 129.46 level, but climb even a little bit higher.
As forecasted, the price of the yellow metal reached the 1,290 mark on Friday.
The recent surge of the Euro against the US Dollar to the 1.1850 mark has forced a review of the situation of the pair.
The US Dollar was relatively flat against the Yen on Friday, thus remaining in the 109.00/20 area for the whole session.