A set of fundamental data shook markets during Wednesday, making EUR/JPY violate the upper two-month triangle trend-line upon the surprise, but calming shortly after when the pair went on to test the 115.42 resistance level.
Despite a lack of events in the economic calendar the US Dollar managed to strengthen, and now there is a good chance of the pair settling above 102.70, where the weekly PP coincides with the 55-day SMA.
The support trendline (lower bound of the five-week channel) we expected to hold the pair failed before the Cable gained a solid foothold above 1.34 dollars, giving way for a sell-off.
The yellow metal found support in the first weekly support level at 1,315.33 on Wednesday morning, and afterwards the bullion slightly rebounded to trade around 1,320.
The common European currency fell and confirmed a channel up pattern's lower trend line against the US Dollar on Tuesday and once more on Wednesday.
The New Zealand Dollar ended Monday's trading session against the US Dollar just before it attempted to break through the weekly PP at 0.7365.
Tests of the channel bottom trend-line do not seem to have come to an end yet, implying a critical move ahead, when AUD/USD will have to break either the three and a half year senior downtrend or the ascending channel pattern it has been containing itself in for the last two months.
The 114.36/47 level proved itself unbreakable, causing EUR/JPY to bounce and shift into a bullish stance on Tuesday.
CAD/JPY has experienced quite a few jumps over the last two decades, but somehow managed to almost always keep the 73.20 level beneath, revisiting it from time to time. The pair squeezed out its all time highs in 2007, followed by a 46 percent aggregate sell-off over the next two years. After erasing some of the losses with a tap
The US Dollar continued its surge against the Canadian Dollar on Tuesday, as the currency exchange rate reached for the weekly R1 at 1.3130.
On early Tuesday morning, the bullion had almost touched the weekly PP at 1,333.94. However, the yellow metal remains squeezed in
The latest attempt of USD/JPY to recover was denied by 102.70, where the weekly pivot point merges with the 55-day SMA, and we are again below the monthly PP.
As expected, the currency pair rebounded after approaching the lower bound of the five-week channel.
The most traded currency pair on the market remained flat on Tuesday morning, as the markets expect new data about the strength of the underlying economies.
The US Dollar continued to score gains on Monday against the Canadian Dollar, as the currency exchange rate traded above the 1.31 mark by 11:15 GMT.
EUR/JPY opened with a dip on Monday, proving 114.39 to be a hurdle likely to stay unbroken
EUR/NZD movements have been carried by a downtrend serving as significant support for 18 years already. The line is likely to prove its dominance once again over the next year or two. A line that is bound to put up a battle over the upcoming weeks is the 1.5110 demand level, which had left its mark on the pair's movements
The broadening wedge established by AUD/USD over the recent months transformed to obtain more channel-like forms, testing 0.7521, the lower trend-line, at the moment.
Although there has just been a test of the upper bound of the 10-month channel, the pair does not seem keen to leave its vicinity.
The Cable keeps retreating after it topped out at 1.3450, and the rate is likely to fall some 70 pips more before we see a recovery back to the upper bound of the channel.
On early Monday morning the yellow metal found support in the monthly PP at 1,326.43 and had moved slightly higher.
The common European currency started a new week against the US Dollar at 1.1234, which is slightly above the weekly pivot point at 1.1233. Due to that, the pair is most likely to surge during Monday's trading session
The New Zealand Dollar depreciated against the US Dollar by mid Friday below the level of 0.7370, where the last notable support level is located at before the 0.73 mark.
The US Dollar is surging against the Canadian Dollar on Friday, as the currency exchange rate managed to break through a strong resistance cluster from 1.2933 to 1.2949 by midday during Friday's trading session.