Although the Kiwi experienced substantial volatility on Thursday, it still managed to remain completely unchanged against the US counterpart, leaving its consolidation trend intact.
As was expected, the 55-day SMA managed to prevent the USD/CAD currency pair from edging lower yesterday, which resulted in the Buck closing only with a 44-pip loss.
The Aussie succeeded in outperforming the US Dollar on Thursday, still unable to leave its trading range between the weekly S1 at 0.7145 and the cluster around 0.7256, represented by the weekly PP and the 200-day SMA.
The Euro refuses to drop below the 122.50 level for two weeks straight now, as it recovered from its intraday low against the Yen once again yesterday and closed with a seven-pip loss.
Current eight-day long losing streak of gold prices is the longest one since early November.
Once again the US Dollar weakened against the Yen yesterday, unable to climb over the 110.25 level.
The Cable underwent the expected correction on Thursday, as supply, represented by the 22-month down-trend and the Bollinger band, was sufficient to prevent the Sterling from appreciating.
In spite of growing back above the 100-day SMA on Thursday, the EUR/USD pair will likely fail again on the last trading day of this week.
Once again the 100-day SMA managed to prevent the New Zealand Dollar from declining, as it has during the previous two weeks.
The USD/CAD currency pair underwent the expected decline, amid the BoC leaving its key overnight rate unchanged at 0.50%.
Even though the Aussie edged higher against the US Dollar on Wednesday, price stabilised slightly lower than anticipated, unable to cross the 0.72 mark.
The EUR/JPY cross behaved according to expectations yesterday, as trade remained within the borders of the expected levels.
Prices of gold continued to slide down for the sixth consecutive day on Wednesday.
As was anticipated, the USD/JPY pair's volatility was limited by the 110.50 level yesterday, but the exchange rate still closed lower, namely on top of the 55-day SMA.
The British Pound once again managed to outperform the US Dollar, reaching the 1.47 major level yesterday, where the Bollinger band coincides with the 22-month down-trend.
EUR/USD consolidated under the 100-day SMA on Wednesday, thereby pushing our short-term outlook further downwards.
For the second day in a row the New Zealand Dollar was unable to climb over the weekly PP, thus, the exchange rate edged lower yesterday.
As was anticipated, the US Dollar weakened against its Canadian counterpart on Tuesday, but managed to remain elevated above the 1.31 mark.
They AUD/USD currency pair almost completely fell in line with expectations, as the exchange rate closed at the 0.7182 level, rather than the expected 0.7177.
The Euro barely changed against the Japanese Yen on Tuesday, having edged only four pips lower.
The bullion posted the most bearish trading session since March 23 yesterday, by losing about $22 from its day's open price.
The US Dollar managed to appreciate against the Japanese Yen yesterday, almost completely negating Monday's losses, with trade closing at the 110.00 mark.
The Sterling overperformed on Tuesday, as it surged over the 1.46 level and closed at 1.4635.
By losing 80 pips or about 0.7%, the EUR/USD currency pair dropped the most in four days on Tuesday and closed the session below the 100-day SMA and weekly S1 at 1.1140.