The Australian Dollar has shown high volatility against US Dollar on Thursday, during this period, the currency pair fell below the junior channel and the dominant ascending channel.
Downside risks dominated the Eurozone single currency against the Japanese Yen on Thursday, as the exchange rate closed the trading session with 120 base points decline. Along the way, the currency pair broke some significant support level. Namely, the bottom border of a downtrend channel and the weekly S1 at 127.8.
XAU/USD has been moving in a symmetrical triangle during the past few sessions.
USD/JPY has been consolidating for the second consecutive day, as neither bulls nor bears have been able to leave the current range.
The Sterling has been unable to pick up momentum against the US Dollar, thus in total losing 2.75% since the beginning of August.
The Euro failed to overcome the strong resistance of the 200-hour SMA and the weekly PP at 1.1625 on Thursday morning.
Downside risks prevailed in the market on Wednesday and thus sending the New Zealand Dollar to plunged by 86 pips or 1.27% against the US Dollar. As a result, the currency broke out through the lower boundary of a downtrend channel. Moreover, the three SMAs pressured the rate further south.
Strong bearish momentum was introduced in the market on the USD/CAD currency pair during the end of Wednesday trading session. As a result, the US Dollar lost 112 base points or 0.85% against the Canadian Dollar.
AUD/USD has been moving in a one-week ascending channel pattern. The rate reversed from the lower boundary mid-session on Wednesday and began to appreciate in a bullish momentum. However, this surge was stopped by the weekly resistance level at 0.7443.
The EUR/JPY currency pair has been trading in a medium-scale triangle pattern since the beginning of August. The pair bounced off its bottom border on August 6 and reached upper boundary yesterday.
The yellow metal was fluctuating around the 55– and 100-hour SMAs on Wednesday.
Following a test of the 200– and 100-hour SMAs and the weekly PP at 111.40 early on Wednesday, the US Dollar began a new decline down to the 110.80 mark.
The 55-hour SMA has managed to restrict the Pound from appreciation for the fifth consecutive session.
EUR/USD was trading sideways on Wednesday, as any significant leaps were restricted by the 100– and 200-hour SMAs.
No changes occurred to the positioning of the NZD/USD pair on Tuesday. Lack of outside pressure resulted in the rate trading sideways along the 55-hour simple moving average.
Bulls guided the USD/CAD currency pair higher on Tuesday. The Greenback managed to reverse its one-week decline mid-session and eventually gain 112 base point or 0.87% against the Canadian Dollar. However, this surge was temporarily stopped by the weekly pivot point at 1.3070.
The AUD/USD exchange rate was constrained by the newly ascending channel pattern on Tuesday. The currency pair breached a resistance cluster formed by the combination of the weekly, the monthly PPs and the 200-hour simple moving average as can be observed on the 1H chart.
EUR/JPY traded with low volatility on Tuesday as it was pressured by a support cluster formed of the 55-hour simple moving average and the monthly pivot point near the 128.82 mark, and the resistance set by the 100-hour SMA.
XAU/USD has been diminishing its trading range for the last three sessions.
The USD/JPY exchange rate bounced off the psychological 111.00 mark mid-Tuesday and was heading towards the combined resistance of the 55-, 100– and 200-hour SMAs and the weekly PP at 111.40.
The GBP/USD exchange rate remained stable on Tuesday, as it was pressured from both sides by the 55-day SMA and the monthly and weekly S1s.
A reversal from the senior channel and a breakout from a junior one was followed by a 48-pip surge on Tuesday.
No significant changes were introduced to the NZD/USD exchange rate on Monday, as the New Zealand Dollar remained stable against the US Dollar and continue moving along the 55-hour simple moving average.
The US Dollar has lost 2.47% of its value against the Canadian Dollar since the middle July 20. The declined started after the currency pair reversed from the upper boundary of a medium-term descending pattern. The pair has reached the bottom border of the descending channel.