The New Zealand Dollar traded between the 200-hour SMA and the 100-hour simple moving average against the US Dollar on Monday. The currency pair has revealed a new narrow ascending channel pattern today.
The US Dollar appreciated about 65 base points against the Canadian Dollar on Monday. The currency pair breached the monthly pivot point at 1.3128 during the end of yesterday's session.
The Australian Dollar depreciated about 56 pips against the US Dollar on Monday. The exchange rate breached both the 50– and 100-hour SMAs at 0.7076 during the end of the previous session.
The common European currency appreciated about 98 base points against the Japanese Yen on Monday. The currency pair breached both the 50– and 100-hour SMAs at 127.86 during the end of yesterday's session.
Upside risks dominated the NZD/USD exchange rate on Friday. The New Zealand Dollar appreciated by 65 base points against the US Dollar during the end of Friday's session.
The US Dollar depreciated about 90 pips against the Canadian Dollar on Friday. This decline was temporary stopped by the 50-hour simple moving average at 1.3069 during the end of Friday's session.
Upside risk prevailed in the market on Friday, thus sending the Australian Dollar to surged about 82 base points against the US Dollar.
The common European currency has been moving in a narrow descending channel against the Japanese Yen since the second half of October. This decline started after the currency pair hit the upper boundary of a long-term descending pattern at 130.00.
The New Zealand Dollar has depreciated about 80 base points against the US Dollar since Thursday session. The currency pair tested the lower boundary of a descending channel at 0.6476 during the Asian session on Friday.
Upside momentum dominated the US Dollar against the Canadian Dollar on Thursday/ the currency pair breached the upper boundary of a medium-term descending channel pattern at 1.3120 during the morning hours of Friday's trading session.
The Australian Dollar has continued to trade in a descending channel against the US Dollar. The currency pair tested the lower boundary of the channel pattern at 0.7020 during the Asian session on Friday.
Downside risks dominated the EUR/JPY currency pair on Thursday. The common European currency ended Thursday's session with about 58 points declined against the Japanese Yen.