On Tuesday, solid upside risks pushed the Greenback through three resistance levels, namely, the 55– and 100-hour SMAs and the weekly PP.
The Pound was relatively steady on Tuesday morning, being supported by the weekly PP and the 55– and 200-hour SMAs circa 1.3015.
On Wednesday morning it could be observed that the speculated reaching of the 2015 high level had became reality for the EUR/USD currency pair.
In line with expectations, the NZD/USD did not make any new attempts to break through the 50% Fibonacci retracement level at 0.7457 and settled down near the monthly R1 at 0.7435.
Once the currency exchange rate fell below the monthly S2 at 1.2552, it was moving along the 20-hour SMA until this morning, when a rebound from the bottom trend-line of a symmetrical triangle happened.
The assumption said yesterday was partially confirmed. On the one hand, the currency pair made a third rebound near the 0.7960-65 levels, where is located an alleged triangle's resistance line.
An early Tuesday morning the currency exchange rate met in a limbo between the 55-hour SMA and the weekly PP at 129.57 from the top and a combination of the 20-, 100- and 200-hour SMAs from the bottom.
As it was expected, the monthly PP at the 1,258.37 mark put up resistance to the commodity price.
Contrary to expectations, the Greenback failed to reach the weekly S1 at 110.48.
After breaching the weekly PP at 1.3019, GBP/USD tried to push above the 1.3060 mark.
On Tuesday morning it could be observed that the common European currency continued to fluctuate against the US Dollar near the 1.1650 mark.
Even though a number of technical indicators send signals that the pair was overbought, it nevertheless climbed to the 50% Fibonacci retracement level at 0.7457 and only then made a rebound.
Movement of the currency pair in the Monday morning confirmed an assumption that descending channel is transforming into a symmetrical triangle.
The Aussie started a week against the American Dollar in a limbo between the 20- and 55-hour SMAs from the top and the weekly R1 from the bottom.
Despite prognoses, a combined support level formed by the 55-, 100- and 200-hour SMAs together with the weekly PP at 129.57 could not prevent the fall of the Euro that was caused by a release of the Finish, French and German PMIs this morning.
In line with expectations, Friday's trading session the yellow metal closed above the 1,250 level, as it faced no sizable resistance barriers on its way.
After hitting the upper channel line on Thursday, the US Dollar continued its bearish march against the Yen.
Positions Today Yesterday % Change Longs 42% 42% 0.00% Shorts 58% 58% 0.00% Indicator 4H 1D 1W MACD
The Sterling has been appreciating against the US Dollar for consecutive three days.
Even though there were no data releases that could have affected the NZD/USD pair, it unexpectedly surged by 55 basis points in second half of the preceding trading day.
The USD/CAD expectedly slipped down to the combined support level formed by the weekly S1 at 1.2546 and the monthly S2 at 1.2552.
In line with expectations, yesterday the currency exchange rate resumed a steady movement to towards the weekly R2 at 0.7998.
An announcement of the European Minimum Bid Rate together with subsequent speech delivered by the ECB President Mario Draghi caused a lot of anxiety yesterday.
The yellow metal continues to surprise the bulls. The commodity price was reaching for the 1,250 mark on Friday morning.