The US Dollar remained relatively stable against its Canadian counterpart on Thursday, as the pair was fluctuating around the 1.2850 mark.
The movement of the Australian Dollar on Thursday was not influenced by technical indicators that were located in the oversold region, as it managed to edge even lower and reach the weekly S2 at 0.7511.
The common European currency was dominated by bulls during the last trading session.
Even though the exchange rate was moving in a falling wedge formation and was about to reach the bottom trend-line of a medium-term descending channel, the rebound did not happen.
As the Congress managed to avoid government shutdown, the Dollar continued to gain value against the Yen, simultaneously passing the monthly PP and the 50% Fibonacci retracement level at 113.00.
During previous trading session the pair initially slipped to support line located at the 1.3338 mark but then suddenly resumed the surge and ended the day at the 50% Fibonacci retracement level.
In result of the previous trading session the currency exchange rate has expectedly reached the 38.2% Fibonacci retracement level located at 1.1760.
Starting from early Wednesday, the bearish sentiment prevailed in the market and sent the New Zealand Dollar for a significant decline.
The pair's movement during the first half of Wednesday was guided by the 55-hour SMA, as the rate was fluctuating around this line for several hours.
The strong resistance of the 100-, 55– and 200-hour SMAs and the weekly and monthly PPs in the 0.7595/0.7610 area sent the Australian Dollar for a decline on Wednesday.
The rebound from the 132.30 area on Wednesday provided the necessary bottom confirmation of a one-week channel.
In essence, the buck is actively appreciating against the gold the third day in a row. A short-term bullish movement towards the 38.2% Fibonacci retracement level at 1,268.00 was the only exception and was attributed to beginning of drills on the Korean peninsula.
As it was forecasted yesterday, after making a rebound from combined support set up by the weekly PP, the 200-hour SMA and the lower trend-line of a new junior descending channel the pair started moving in the opposite direction and even managed to bypass two other moving averages.
In line with expectations, the overall optimism related to progress made on tax reform and decreased probability of a government shutdown continued to push the cable downwards.
As it was projected yesterday, an attempt of the currency exchange rate to reach the 1.1866 level was neutralized by the slipping 55-hour SMA. Accordingly, the Dollar continued to appreciate against the Euro.
For most of its session on Tuesday, the New Zealand Dollar was moving along the upper boundary of a breached descending channel.
USD/CAD remained stable during the previous session, as the pair was fluctuating between the 1.2700 and 1.2650 marks.
As already expected, the Australian Dollar was dominated by bears during the previous 24 hours.
After testing the 55-hour SMA mid-Monday, the common European currency was dominated entirely by bears.
During previous trading session the buck appreciated against the gold by 0.88%. The downfall was mainly driven by optimistic expectations of the upcoming talks between the House and Senate.
During previous trading session the pair was trying to pave the path through the monthly PP at 112.70, just as expected.
Despite release of worse than expected Services PMI data, the cable could not pass below the monthly PP located at 1.3372 and was forced to halt the fall.
In line with expectations, a combination of the 55-, 100- and 200-hour SMAs pushed the rate downwards, leading to dissolution of the one-month long ascending channel.
NZD/USD was trading between the 100-hour SMA and the bottom boundary of a short-term ascending channel on Monday.