In essence, the past 24 hour the cable spent testing different support levels.
As it was projected yesterday, bulls did not succeed to push the Euro through second combined resistance barrier formed by the weekly S1 together with the 100- and 200-hour SMAs.
Following a slight period of consolidation on Tuesday, the New Zealand Dollar was driven by strong upside risks today.
Tuesday's trading session confirmed that the US Dollar is gradually regaining some strength against the Loonie.
AUD/USD spent the second half of Tuesday's trading session below the 200-hour SMA.
The common European currency continues to depreciate against its Japanese counterpart for the third consecutive session.
Contrary to expectations, gold traders decided not to wait this week's American fundamental data releases and pushed the pair from symmetrical triangle pattern.
In accordance with expectations, the Dollar continued to lose value against the Yen.
In result of the previous trading session the currency rate has broken through support line of a one-month long ascending channel, thus ending the consolidation phase.
The appreciation of the Dollar continued on Tuesday, as expected. After reaching support level set up by the monthly PP at 1.1917 the currency rate resumed the surge.
After confirming a medium term channel up pattern's lower trend line on Tuesday morning, the New Zealand Dollar looked like ready to surge against the Greenback.
The US Dollar's rebound against the Canadian Dollar has on Tuesday done two notable moves.
By the middle of Tuesday's trading session the Australian Dollar had plummeted against the US Dollar. The pair had fallen through various support levels in a sharp move, which stopped near the support of the 200-hour simple moving average near the 0.7825 mark.
The decline of the Euro against the rest of the financial instruments continued on Tuesday. The EUR/JPY currency pair was no exception to the rule.
In accordance with expectations, previous trading session the exchange rate spent in a horizontal movement.
The five-day surge of the Dollar against the Yen was stopped by the upper trend-line of medium scale symmetrical triangle, as expected.
The British Pound is continuing to slowly advance against the Dollar in a one-month long ascending channel.
Contrary to expectations, the lower trend-line of a one-month long ascending channel did not managed to stop the currency rate from falling, even though it was additionally backed up by the weekly S1 and the 200-hour SMA.
The New Zealand Dollar increased gradually against the US Dollar on Friday.
The slight period of consolidation apparent on Friday morning was disrupted significantly by the combined data release from the US and Canada mid-session.
Following three session of constant tests of the 55– and 100-hour SMA, the Australian Dollar finally managed to gather enough momentum and push below this support cluster.
By mid-Monday, the common European currency had managed to erase almost all gains reached during the second part of the previous week.
In result of the previous trading session the exchange rate slipped to the lower trend-line of a junior ascending channel, as expected.
Despite release of mostly negative employment data on Friday, the currency exchange rate managed to break through 50% Fibonacci retracement level located at 113.00 and the upper-boundary of one-month long symmetrical triangle.