The New Zealand Dollar depreciated about 54 base points against the US Dollar on Wednesday. The currency pair returned to the descending channel during the end of the previous session.
Upside risks prevailed in the market on Wednesday, thus allowing the US Dollar to surged about 140 base points against the Canadian Dollar. The momentum was stopped by the weekly resistance level at 1.3066.
Downside risks dominated the AUD/USD currency pair on Wednesday. The Australian Dollar declined about 86 base points against the US Dollar during the end of yesterday's trading session.
Downside momentum dominated the common European currency against the Japanese Yen on Wednesday. The exchange rate declined about 120 base points during the end of yesterday's session.
Upside momentum dominated the NZD/USD currency pair on Tuesday. The Kiwi surged about 62 pips against the Greenback. The exchange rate tested the upper boundary of a descending channel during the Asian session on Wednesday.
Downside risked prevailed in the market on yesterday, thus allowing the US Dollar to crashed about 67 base points against the Canadian Dollar. The declined started after the currency pair tested a resistance cluster formed by the weekly and the monthly PPs near the 1.30 mark.
Upside risks prevailed in the market on Tuesday, thus sending the Australian Dollar to surged about 65 base points against the US Dollar. This rally was stopped by the 200-hour SMA.
Upside risks have dominated the EUR/JPY currency pair since yesterday. The common European currency has gained about 88 base points against the Japanese Yen since Tuesday's session.
A strong resistance level formed by the 50-hour simple moving average has hindered the New Zealand Dollar from gaining strength against the US Dollar. The currency pair tested the resistance line during the previous session and pullback south.
A one-week ascending channel has guided the movement of the US Dollar against the Canadian Dollar. The currency pair bounced off its lower boundary on October 1 and followed by a short-term upside wave.
A three-week descending channel has guided the movement of the Australian Dollar against the US Dollar. The currency pair reversed from the upper boundary of the channel pattern on September 22 and followed by a downside wav
The Eurozone single currency depreciated about 140 base points against the Japanese Yen on Monday. However, the decline was temporary stopped by the weekly S2 at 129.51.