The common European currency still continues to weaken against the US Dollar for the second week.
The general strength of the US Dollar put pressure on the NZD/USD exchange rate to the downside on Tuesday, thus allowing to prolong the rate losses for the third consecutive session.
The US Dollar remained under bears influence on Tuesday. The downside risks started yesterday after the currency pair pierced a resistance cluster set by the combination of the weekly and the monthly PPs near 1.2902.
The Australian Dollar temporarily stopped its massive decline against the US Dollar. The pair reverse from the 131.64 mark and has been gaining strength during the first part of Thursday's trading session.
The single European currency continues to trade in a two-week junior descending channel against the Japanese Yen.
The yellow metal was not an exception, as it was likewise pressured lower by the stronger US Dollar during the previous session.
The general strengthening of the US Dollar against major currencies on Tuesday had a positive impact on the given pair.
Downside pressure prevailed on Tuesday and thus sent GBP/USD for another decline.
The strong downside potential which has guided the EUR/USD exchange rate since mid-April remained dominant on Tuesday, as well.
The New Zealand Dollar has traded with decreased volatility against the US Dollar since yesterday. The reason was the pair bouncing between two competing level of significance.
The inability of the Greenback to gain momentum yesterday has a positive impact on the USD/CAD currency pair. The pair introduced no significant changes to the overall price level during the end of trading day.
The Australian Dollar continues to depreciate against the US Dollar for the past two-week. Despite a sign of surge on Monday, bears managed to gather enough momentum to push the rate further south.
The situation on the EUR/JPY exchange rate has not changed much since the last time the pair was reviewed by the Dukascopy Research team. The currency pair remains trading in a descending channel.
XAU/USD was pressured by the 55-hour SMA on Monday.
The US Dollar continues to move sideways against the Japanese Yen for the fourth consecutive session.
Monday's trading session was calm for the GBP/USD currency pair, as it remained trading sideways for the second consecutive session.
EUR/USD was driven by downside risks on Monday, as a move above the 1.2140 mark was restricted by the 55-hour SMA and the 50.00% Fibonacci retracement.
The New Zealand Dollar continues to trade in a two-week descending channel against the US Dollar. The currency pair has breached both the 55– and the 100– hour SMAs.
Bears managed to regain control of the market on Friday. By the end of trading day, the USD/CAD currency pair has lost 50 basis point. However, the decline was stopped by the weekly pivot point at 1.2827.
The downside risk continues to prevail in the market as of Friday's. Bears continue to dominate the AUD/USD currency pair. The price movement still trading in a junior descending channel.
The single European currency continued to lose ground against the Japanese Yen. By the end of Friday's trading session, the exchange rate has reached a low at 131.87.
The yellow metal was guided by upside momentum on Friday.
Despite some minor fluctuations, the US Dollar remained stable against the Yen on Friday.
GBP/USD experienced another day of weakening on Friday.