Being stranded by the 55-, 100– and 200-hour SMAs, USD/JPY entered a minor period of consolidation on Thursday morning.
The GBP/USD pair was guided by the 55-hour SMA during the first part of Thursday, while the upper limit was set by a trend-line and the weekly R2.
As previously expected, the Euro surrendered under the bearish pressure on Thursday and thus was pushed down to the 200-hour SMA at 1.23.
The New Zealand Dollar was guided primarily by bullish sentiment yesterday against the US Dollar as a result, the pair breached the upper boundary of a dominant ascending channel.
The US Dollar spent Wednesday's trading with low volatility against the Canadian Dollar. The USD/CAD currency pair was guided mainly by the 55– hour simple moving average.
The AUD/USD currency pair has been trading in the 0.7738/0.7773 range since April 10. its upper boundary was tested on Wednesday and the pair return south.
The common European currency was pressured by bearish sentiment on Wednesday as a result, the currency pair breached both the 55– and the 100– hour simple moving averages.
The yellow metal was guided by bulls on Wednesday who strengthened their positions during the second part of the session.
The US Dollar was pressured by bears on Wednesday which resulted in a breakout of the 55– and 100-hour SMAs early in the session.
Mid-Wednesday was spent with high volatility for the GBP/USD exchange rate.
Despite high volatility, the common European currency remained stable against the Greenback on Wednesday.
The New Zealand Dollar continues its neat journey in an ascending channel against the Buck. By the end of US session on Tuesday, the pair has reached a new one-month high at 0.7390.
The USD/CAD exchange rate continued to depreciate on Wednesday but with considerably lower volatility than the previous sessions. However, the pair still managed to breach the lower boundary of a dotted trend-line.
The Australian Dollar remained stable and gradually moving north against the US Dollar. During the middle of Wednesday's trading, the currency pair breached the monthly and the weekly PPs near 0.7750.
The upside momentum of the common European currency against the Japanese Yen has been temporarily stopped by a resistance cluster set by the combination of the monthly R1 and the weekly R2 at 132.67.
XAU/USD continues to appreciate for the third consecutive session.
USD/JPY has managed to maintain its sideways movement for the fourth session in a row.
Bulls have still refused to abandon their positions for the third consecutive session, thus managing to push the Sterling even higher against the US Dollar.
Upside risks continue to dominate the EUR/USD exchange rate.
Bulls continue their dominance over the NZD/USD exchange rate. As display on the chart, the currency pair has breached the Weekly R1 at 0.7331 and has also tested the upper boundary of a dominant ascending channel.
The failure of the US Dollar to gain strength on Monday had an impact on the USD/CAD exchange rate. The morning session did not introduce significant changes to the overall price level.
Bulls managed to regain control of market yesterday. By the end of Monday's trading session, the AUD/USD currency pair accumulated approximately 59 basis point.
The Single European currency has been gradually appreciating against the Japanese Yen for last one week. This movement has been directed by the 55– hour simple moving average.
Gold demonstrated high fluctuation against the Greenback on Monday.