The common European currency declined by 47 pips or 0.36% against the Japanese Yen on Wednesday. The currency pair breached the 130.00 level during Wednesday's trading session.
At 12:30 GMT on Wednesday, the yellow metal's price jumped due to the release of the US Producer Price Index. The metal managed to pass the resistance zone, which was located below the 1,820.00 level. However, following the surge, the price found resistance in the 1,830.00 mark. In the case that the 1,830.00 mark fails to continue to provide resistance, the
At mid-day on Wednesday, the USD/JPY currency exchange rate dropped sharply due to the release of the US Producer Price Index data. During its decline, the rate plummeted below all close by technical support levels. In theory, the rate could decline as low as the previous July low level near 109.55. However, on its way down the pair is most likely
The GBP/USD traded with high volatility due to the US CPI release on Tuesday. However, on Wednesday, the rate had recovered and appeared to be set for another test of the resistance zone above the 1.3900 mark. In the case that the rate passes the resistance of the 1.3900 mark, the GBP/USD would find resistance in the 1.3950 mark and afterwards
The release of the US Consumer Price Index data on Tuesday caused high volatility of the EUR/USD and eventually a booking of new July low level at 1.1773 during the early hours of Wednesday's trading. By the middle of Wednesday's European trading hours, the currency exchange rate had recovered and was expected to reach the resistance of the 55,
On Tuesday, the US Dollar edged higher by 90 pips or 0.74% against the Canadian Dollar. The currency pair tested the upper line of a descending channel pattern during yesterday's trading session.
The GBP/JPY currency pair reversed from the upper end of a descending channel pattern at 153.50 on Tuesday. As a result, the Pound Sterling fell by 94 pips or 0.61% against the Japanese Yen during yesterday's trading session.
On Tuesday, the Australian Dollar declined by 65 pips or 0.87% against the US Dollar. The currency pair was pressured lower by the 50– and 200– hour SMAs during Tuesday's trading session.
The 200– hour simple moving average provided resistance for the EUR/JPY currency pair on Tuesday. As a result, the Eurozone single currency declined by 85 pips or 0.65% against the Japanese Yen.
The yellow metal found support in the zone above the 1,790.00 level. Meanwhile, as the price was being approached by the 200-hour simple moving average, a recovery began. By the middle of Tuesday's European trading hours, the bullion had reached above 1,810.00. A continuation of the surge of the yellow metal's price could encounter resistance in the zone below the 1,820.00
During Monday's trading, the USD/JPY broke the resistance of the 100-hour simple moving average and the weekly simple pivot point near 110.30. However, it did not result in an extended surge, as the currency exchange rate began to fluctuate sideways in the 110.30/110.50 range. If the rate ends the sideways trading by surging, it would encounter resistance near 110.65 where the
On Tuesday, the GBP/USD made another attempt to pass the zone above the 1.3900 mark. In the meantime, the rate revealed on Monday that the zone near 1.3840 manages to provide support. In the near term future, the pair could be pushed up by the support of the 55, 100 and 200-hour simple moving averages. A potential surge could once again
Despite not facing any technical resistance on Monday, the EUR/USD currency exchange rate did not surge. The pair's attempt at moving higher on the chart was stopped by the 1.1880 level. The rate made two attempts to reach above the 1.1880 level before declining and finding support in the 100-hour simple moving average. On Tuesday, the currency exchange rate fluctuated
The 50– hour simple moving average provided resistance for the USD/CAD currency pair on Monday. As a result, the US Dollar fell by 66 pips or 0.52% against the Canadian Dollar during Monday's trading session.
The British Pound surged by 84 pips or 0.55% against the Japanese Yen on Monday.
The AUD/USD currency pair bounced off a support level formed by the 50– hour simple moving average at 0.7453 on Monday.
The common European currency edged higher by 57 pips or 0.47% against the Japanese Yen on Monday. The rise was stopped by the 200– hour simple moving average at 131.09 during Monday's trading session.
On Monday morning, the yellow metal passed the support of the channel up pattern, which had guided the rate since June 29. Moreover, the 55 and 100-hour simple moving averages failed to provide the rate with support. However, the price found support in the 1,800.00 level. In the near term future, the price could recover due to the support of the
On Monday, the USD/JPY recovery reached above the 110.00 mark. However, the rate encountered resistance at 110.29 where the weekly simple pivot point and the 100-hour simple moving average were located at. In the case that the rate surges above the technical resistance levels near 110.30 , the pair could reach for the 200-hour simple moving average and the July 7
During the early hours of this week's trading, the GBP/USD currency exchange rate bounced off the resistance of a zone that surround the 1.3900 level. By the middle of Monday's trading, the rate was expected to look for support near the 1.3850 level. Near the 1.3850 level, the rate could find support in the weekly simple pivot point at 1.3853 and
At mid-day on Friday, the EUR/USD passed the resistance zone above the 1.1860 level and the 200-hour simple moving average. By doing so the rate passed the last technical resistance up to the 1.1923 level where the weekly R1 simple pivot point is located at. In theory, the currency exchange rate should surge up to the weekly R1 simple pivot
Bearish sentiment dominated the USD/CAD currency pair on Friday. As a result, the US Dollar fell by 111 pips or 0.88% against the Canadian Dollar during Friday's trading session.
Upside risks pressured the British Pound higher against the Japanese Yen on Friday. The GBP/JPY currency pair surged by 208 pips or 1.38% during Friday's trading session.
On Friday, the Australian Dollar edged higher by 80 pips 1.08% against the US Dollar. The surge was stopped by the 200– hour simple moving average during Friday's trading session.