Bears took over the market on Monday, driven by political turmoil in Italy.
The NZD/USD currency pair was constrained by upside risks on Friday trading session. Nevertheless, the gains were stopped by the weekly pivot point at the 0.6964 regions.
Strong upside momentum continues to dominate the US Dollar against the Canadian Dollar, as the pair has been supported by the 55– hour simple moving average since last week.
The Australian Dollar spent the first half of Monday's session calmly, as the rate was pushed back by the monthly pivot point at 0.7579. Also, the exchange rate has been bouncing between the upper and lower boundaries of a medium-term triangle pattern.
The common European currency remained stable against the Japanese Yen for the third consecutive trading session on Monday.
After reaching the upper boundary of a two-month channel down and its weekly high at 1,310.00 mid-Friday, the yellow metal began depreciating against the US Dollar as a result of which it was trading at the 100-hour SMA early this morning.
The US Dollar was trading sideways against the Japanese Yen on Friday.
The 55-hour SMA continued to provide downward pressure for GBP/USD as a result of which the Pound fell down to a fresh six-month low at 1.33 late on Friday.
The 55-hour SMA was the main driving force for EUR/USD on Friday, thus allowing bears to continue dominating in the market.
The previously drawn junior pattern guided the surge of the NZD/USD only for a short time. The rate passed the support of the junior ascending channel after making a second attempt.
The US Dollar managed to pass the recently discovered dominant patterns resistance line against the Canadian currency. However,
The previously described scenario on Thursday had became reality on the AUD/USD. Namely, the currency exchange rate had managed to pass the various resistance levels that surrounded the 0.7570 mark.
The common European currency on Friday remained against the Japanese Yen near the lower trend line of the dominant channel down pattern. However, it had made one failed attempt to pass the support.
As previously expected, the 200-hour SMA and the upper boundary of the short-term wedge surrendered mid-Thursday, driven by strong two-hour surge until the 1,305.00 mark.
The US Dollar continues to trade in a descending channel against the Japanese Yen for the third consecutive session.
During the first part of Thursday's trading session, the Sterling managed to maintain its upward movement which started mid-Wednesday.
Following two days of decline which started on Tuesday, the Euro tried to regain some of the lost positions yesterday.
The previous assumptions about the NZD/USD pair were false, as the rate surged in the second half of Wednesday only to be squeezed in between various hourly simple moving averages.
The US Dollar, as expected on Wednesday, managed to gain more ground against the Canadian currency. However, the surge was stopped eventually near mid-day by the monthly pivot point at 1.2917.
In the aftermath of the previously described finding of support in the medium pattern's lower trend line, the Australian Dollar has surged against the Greenback. However, on Thursday
By the middle of Thursday's trading session the EUR/JPY currency exchange rate had respected the lower trend line of the large scale channel, which was drawn by Dukascopy analysts on Wednesday.
Gold remained steady against the US Dollar for the second consecutive session on Wednesday.
Any technical signals about USD/JPY's possible direction on Wednesday were shuttered by a 1.17% plunge during the morning hours.
The first part of Wednesday's trading session for GBP/USD was spent under the bearish pressure.