USD/CAD was driven by strong bearish momentum mid-Tuesday.
The Aussie was trading in line with the previous analysis, as it remained between the weekly PP and the 55-hour SMA during the last trading session.
Similarly to yesterday, the common European currency was trading along the 55-hour SMA in this session, as well.
As it was expected, lack of an upside momentum did not allow the pair to surge above the 1,282.00 level.
As there were no fundamental events that could positively affect value of the buck, the currency exchange rate continued moving to the bottom under the pressure from the 100-hour SMA.
As markets did not pay much attention to the UK Inflation Report Hearings, the cable continued to slowly surge along the rising 55-hour SMA within the junior ascending channel.
In line with expectations, the pressure exercised by 100-day SMA shoved the currency rate out of the channel.
The Kiwi's direction during the past trading session was largely influenced by the 55-hour SMA that pushed the rate down to the 0.6790 mark.
USD/CAD was driven by upside momentum during the last session.
As expected, AUD/USD was guided by the 55-hour SMA during the past session.
The market has introduced no major changes to the pair's positioning within the last 24 hours.
Growing fears about inevitability of snap parliamentary elections in Germany led to appreciation of the Dollar against basket of currencies, including the yellow metal. In result of this downfall, the exchange rate reached and made a rebound from the bottom edge of a senior ascending channel.
In line with expectations, the currency exchange rate has successfully reached the 112.62 mark. But as this level was protected by the weekly PP, the pair was forced to retreat.
From technical perspective, the cable was expected to make a rebound from an intersection of two senior channels.
The common European currency continued to lose value against the Dollar in a junior descending channel, as expected.
The Kiwi has shown solid recovery against the Greenback since mid-Friday.
Following the US/Canadian data releases mid-Friday, bears took the upper hand and pushed USD/CAD out of the strongly overbought territory.
As apparent on the chart, the Australian Dollar continues to trade in line with the junior channel down.
The European market was shaken early on Monday, as news about the failure of the German Chancellor Angela Merkel to form a coalition caused a massive selling spree for Euro bears.
Despite release of better than expected American housing data the bullish pressure prevailed.
Contrary to trade patterns theory, the currency rate did not make a breakout from the falling wedge formation to the north.
On Friday, after reaching the 1.3250 mark the cable made a sharp turnaround and slipped back to the 1.3180 level.
As the currency pair did not have any fundamental background that could justify a rapid move, it finished the week near the 55-hour SMA.
The New Zealand Dollar was holding its positions steady on Thursday, as it was fluctuating with narrow range around the 0.6850 mark.