Following a solid appreciation on Tuesday morning, NZD/USD formed a slight consolidation period in the 0.7320/0.7280 area.
The Greenback continued its gradual appreciation against the Canadian Dollar on Tuesday, thus breaching the 100–hour SMA and the upper channel boundary.
The 0.8050 mark proved to be strong resistance for AUD/USD on Tuesday, as the failure to move past this level resulted in a short-term movement sideways.
EUR/JPY was driven by strong upside momentum on Tuesday, even despite technical indicators pointing to a possible correction south.
Even though the pair managed to cross the weekly S1 at 1,329.68 yesterday, the pressure of the bears was not strong enough to push it to the bottom edge of a dominant ascending channel.
In result of the yesterday's advance, the currency exchange rate managed to cross practically all barriers on its way.
Due to release of satisfying data on the UK CPI, the Pound got an upside momentum that helped it to cross the monthly R1 at 1.3208 and then continue the surge.
In line with expectations, a resistance created by the 55- and 100-hour SMAs prevented the further advance of the Euro against the Greenback.
As previously expected, the Kiwi depreciated against the US Dollar until 0.7230 when a sudden two-hour surge starting at 0600GMT pushed the rate as high as the 0.7310 mark.
After reaching a two-year low, the US Dollar has been trading sideways for the third consecutive session, thus failing to surpass the 55-hour SMA for most of the time.
AUD/USD was stranded in a narrow range between the 55– and 100-hour SMAs on Monday.
The common European currency continued its surge against the Yen on Monday, being driven mainly by mitigated political risks over the globe.
In line with expectations, the US Dollar surged against the Yen on Monday, resulting in a 117-pip appreciation within one day.
The GBP/USD currency pair was characterised by a lack of volatility on Monday.
The bearish scenario came true on Monday for the yellow metal. The bullion's price fell below the 1,330 mark in the second half of the day's trading session.
The common European currency continued its decline against the US Dollar, as it was expected on Monday.
The massive surge up to the 0.7340 mark that was apparent on Friday was followed by a similar-scale decline.
The US Dollar managed to accelerate against its Canadian counterpart on Friday and consequently confirm a descending channel.
It was no surprise when the massive surge on Thursday and Friday was followed by a correction period, thus erasing nearly half of gains accumulated during these two days.
The Euro failed to edge higher on the second half of Friday, thus fluctuating in the 129.90/60 area for the remaining trading hours.
The way the exchange rate started new trading week confirmed that previously it was moving in a medium-term rising wedge.
As it was expected, the new trading week the Greenback started in a recovery against the Yen.
Due to positive numbers that were revealed during a release on the UK Manufacturing Production, the Pound caught an upside momentum that helped it to reach the monthly R1 at 1.1320.
On Friday, the currency exchange rate acted in accordance with one of the scenarios, which suggested that as soon as markets will calm down the buck is going to try restoring some lost positions.