In spite of bearish signs, the Sterling managed to appreciate against the US Dollar on Tuesday, successfully retaking the 1.27 level.
The common European currency gained enough strength from the support of the 38.20% Fibonacci retracement level to break the descending pattern, in which it traded against the US Dollar.
The New Zealand Dollar has managed to break through the resistance of the 23.60% Fibonacci retracement level, which is located at the 0.7221 mark, against the US Dollar.
The US Dollar has lost major ground against the Canadian Dollar, as by the middle of Tuesday's trading session the currency exchange rate was below the third weekly support level, which is located at the 1.3291 level.
The minor channel down in force since June 7 was not able to confine the bullish Aussie, as the Antipodean currency breached the upper channel boundary late Monday and surged up to the 0.7565 mark.
Reaching the lower Bollinger band late Monday, the Euro bounced off the given level and appreciated against the Yen up to 123.70.
The common European currency continued to trade against the US Dollar in the descending channel pattern, which formed as a result of the pair bouncing off the resistance of the long term pattern's upper trend line at the start of May.
The yellow metal no longer trades in the borders of any short or medium term pattern, as the commodity price has broken out of the short term descending channel in the previous 24 hours.
As was anticipated, the US Dollar edged lower against the Japanese Yen yesterday, but managed to remain relatively high above the key support—the monthly S1 at 109.22.
The GBP/USD currency pair experienced more weakness on Monday, causing the exchange rate to drop below the 1.27 handle.
The most recent full review of the NZD/USD currency exchange rate has given a lot of additional information into the pair's future.
The US Dollar has revealed a new short-term pattern against the Canadian Dollar.
Following a minor fall in the morning session, the Aussie managed to recover all losses and maintain its upward surge until the 0.7544 mark.
This trading session has brought no changes to the pair's direction sideways.
The medium term channel did not manage to hold its ground, as the short term descending channel managed to pass through the support of the medium scale pattern.
The Greenback's attempts to recovery against the Yen are likely to be short-lived, as the recent breach from the triangle pattern on the daily chart suggests so.
After Thursday's fall the Cable has entered a period of stagnation, which could just be a calm before the storm, with this week's Fed and BoE meetings due.
The common European currency rebounded in the second half of Friday's trading against the US Dollar, and the pair extended the gains into Monday's trading.
Although the ascending channel pattern has been broken, the New Zealand Dollar is holding its ground against the US Dollar.
The US Dollar traded against the Canadian Dollar in a previously established range until the Canadian Employment data sets were released.
On Thursday, the Aussie dashed through the 55-hour SMA and tested a support cluster formed by the lower Bollinger band and the weekly R2 near the 0.7535 mark.
EUR/JPY managed to reach the lower Bollinger band late Thursday prior to surging 44 pips in this session.
During the early hours of Friday's trading session the yellow metal was located near the lower trend line of the medium term ascending channel pattern near the 1,274 level.
The USD/JPY currency pair confirmed the ascending channel pattern with its recovery from the 109.40 area, with the exchange rate now continuing to test the upper boundary.