Previous forecast worked—the USD/JPY currency pair continued to trade sideways around the 112.00 level.
Yesterday, the GBP/USD exchange rate slipped to the psychological level at the 1.3040 mark.
On Tuesday, the EUR/USD currency pair reached the lower boundary of the short-term channel at 1.1281. During today's morning, the pair reversed north to the resistance level at 1.1320.
Bearish momentum dominated the New Zealand Dollar versus the US Dollar on Tuesday, thus sending the currency pair to decline about 100 base points by the end of yesterday's trading session.
Downside sentiment has prevailed in the market since the previous trading session. Thus, allowing the US Dollar to edged lower about 91 base points against the Canadian Dollar.
Upside risks have dominated the Australian Dollar versus the US Dollar since Tuesday's trading session. The currency pair gained about 0.90% in value during the last 24 hours.
The single European currency depreciated about 45 base points against the Japanese Yen on Tuesday. The 50-hour simple moving average provided resistance for the currency pair during the previous trading session.
During the previous trading session, the price for gold reached the lower boundary of the descending triangle pattern at 1,282.56.
On Monday, the USD/JPY currency pair traded sideways around the psychological level at 112.00.
During Monday's session, the GBP/USD exchange rate re-tested the upper boundary of the falling wedge pattern at 1.3115.
Yesterday, the EUR/USD currency pair traded sideways between the psychological levels at 1.1300 and 1.1320 respectively.
The New Zealand Dollar has depreciated about 41 base points against the US Dollar since Monday's trading session.
The US Dollar appreciated about 92 base points against the Canadian Dollar on Monday. A breakout occurred through the upper boundary of a medium-term descending channel pattern at 1.3386 during yesterday's trading session.
The Australian Dollar has depreciated about 40 base points against the US Dollar since yesterday's trading session. The decline was stopped by the 200-hour simple moving average at 0.7138.
The common European currency traded with low volatility against the Japanese Yen on Monday. The monthly pivot point at 126.69 restricted the currency pair from making an upside movement.
The New Zealand Dollar gained about 67 base points against the US Dollar on Friday. The currency pair breached the 50-, 100– and 200-hour SMAs during Friday's trading session.
The US Dollar depreciated about 82 base points against the Canadian Dollar on Friday. The currency pair tested the lower boundary of a junior ascending channel pattern at 1.3317 during Friday's trading session.
The Australian Dollar appreciated about 73 base points against the US Dollar on Friday. The currency pair breached both the 50– and 100-hour SMAs during Friday's trading session.
The single European currency appreciated about 108 base points against the Japanese Yen on Friday. The currency pair tested a resistance level formed by the monthly R1 at 126.69 during Friday's trading session.
On Friday, the price for gold continued to diminish, surpassing the psychological level at 1,290.00.
At the end of last week, the USD/JPY currency pair traded sideways around the psychological level at 112.00.
During previous trading session, the GBP/USD exchange rate tested the upper boundary of the falling wedge pattern at 1.3128 and reversed south.
On Friday, the EUR/USD currency pair tried to breach the short-term channel north and reversed south from the upper channel line at 1.1324. On Monday's morning, the pair resumed going up.
During yesterday's trading session, the price for gold dropped to the psychological level at 1,290.