The British Pound is continuing to trade lose value against the American Dollar in a one-month-long descending channel.
In general, the pair continued to move horizontally between the 200-day SMA and the 100% Fibonacci retracement level, as expected.
The New Zealand Dollar remained near the weekly S1 at 0.7159 during the most of Tuesday's session.
After reaching the 1.2540 mark early on Tuesday, bearish sentiment dominated the market for the whole trading session.
Even though the Aussie was stranded below the 55-hour SMA for three trading session, bulls found strength and pushed the given currency above this resistance area.
EUR/JPY was stranded between the 55-, 100– and 200-hour SMAs mid-Tuesday.
Because of the speech that is expected to be delivered by the Fed Chair Janet Yellen at a banking conference in St. Louis, the gold traders not only managed to pull the pair from the weekly S1 lying at the 1,266.63 level but also to push it from a junior descending channel.
As it was expected, after a rapid short-term surge the pair stopped at the 113.21 level and then began to move to the bottom, breaking from a dominant ascending channel.
In line with expectations, the currency exchange rate failed to break from the one-month-long descending channel yesterday.
It appeared that a breakthrough the 100% Fibonacci retracement level at 1.1715 and the weekly S1 at 1.1710 had a short-term effect.
The pressure set by the 100– and 55-hour SMAs near the 0.7209 area was strong enough to halt any attempts to reach the upper channel boundary on Monday.
The Greenback managed to gain some value against the Loonie during the second half of Monday's trading session.
As apparent on the chart, no massive changes have occurred to the AUD/USD exchange rate during the past 24 hours.
After rebounding from the upper boundary of the descending channel, the common European currency entered a minor consolidation period slightly above the monthly PP at 132.24.
In accordance with expectations, for couple of hours the fall of the exchange rate was stopped by the 100-day SMA.
In line with expectations, the Greenback continued to gain value against the Yen, breaking through the upper edge of a junior descending channel.
A combination of release of worse than expected British and better than expected American manufacturing activity data created a downside momentum, which was strong enough to drive the pair through a combined support formed by the monthly PP at 1.3322 and the weekly S1 at 1.3305 and push right to the bottom edge of senior descending channel.
Contrary to expectations, the currency pair broke through the combined support set up by the 100% Fibonacci retracement level at 1.1715 and the updated weekly S1 at 1.1710.
The New Zealand Dollar has depreciated moderately against the US Dollar since mid-Friday.
The US Dollar has reached the 1.2520 mark two times since early Friday.
Despite continuous attempts to move past the 55-hour SMA, AUD/USD's direction on Friday was entirely dependent on the given moving average.
The Euro managed to breach the descending channel early on Friday and reach the 200-hour SMA at 133.20.
Due to release of another set of the US inflation and consumer spending data, which did not change the overall prospect about the upcoming interest rate hike, the buck managed to drag the bullion through the 61.8% Fibonacci retracement level at 1,278.96, thus confirming an existence of a new descending channel.
Despite a certain volatility that was caused by a release of information on the US consumer spending, the pair continued to gradually climb to the top, as expected.