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.
After being located near the upper wedge boundary on Thursday morning, GBP/USD was pressured lower and consequently pushed through the weekly R1 and the 55-hour SMA down to the 1.3060/85 area.
On Friday morning the common European currency was regaining the losses suffered against the US Dollar
Due to the announcement of the Fed's Federal Funds Rate yesterday, this matched with combined support level formed by the 20-, 55- and 100-hour SMAs, the currency pair skyrocketed through the 50% Fibonacci retracement level at 0.7457, the weekly R1 at 0.7525 and the monthly R2 at 0.7535.
In accordance with the yesterday's prognoses, the currency pair failed to bypass a resistance barrier that was set up by the 100-hour SMA at 1.2536.
In line with expectations, after bouncing off from the 200-hour SMA and the monthly PP at 0.7898 the currency pair made new attempt to break through the one resistance barrier, whose existence was confirmed by three Williams fractals, and then the second one, which was set up by the weekly R1 at 0.8010.
The way the currency pair fluctuated over the last 24 hours confirms that it is located within an ascending triangle, where the upper trend-line is formed by the weekly R1 at 130.56.
Most patterns and technical analysis in general has become obsolete on the XAU/USD chart.
Thursday's morning started relatively calm, as USD/JPY was driven by low volatility for most of the session.
Contrary to the relatively flat movement sideways that was apparent during the last two trading days, the Pound surged against the US Dollar mid-Wednesday after not being able to pass through the weekly PP at 1.3019.
The common European currency was positioned to suffer losses against the US Dollar on Wednesday morning
In line with expectations, a pressure from the 55-hour SMA in combination with a number of macroeconomic data releases pushed the currency rate from a reverse symmetrical triangle downwards.
Due to announcement of the US CB Consumer Confidence yesterday, the Greenback has appreciated against the Loonie by 37 basis points and drove the pair out of the symmetrical triangle.
Since the road upstairs did not have any meaningful barriers, while the southern side became protected by a combination of the 20- and 55-hour SMAs, the currency pair made a breakout from a symmetrical triangle to the north.
Contrary to expectations, the currency exchange rate did not bounce off from the upper resistance line of a symmetrical triangle, but, instead, broke through it.
The strength of the monthly pivot point has proven itself to be strong enough to force the yellow metal's price into breaking the ascending channel pattern, which guided the bullion since July 11.
On Tuesday, solid upside risks pushed the Greenback through three resistance levels, namely, the 55– and 100-hour SMAs and the weekly PP.