Yesterday, the XAU/USD exchange rate dropped to the lower boundary of the short-term ascending channel at 1,280.00. During today's morning, the rate reversed north.
Yesterday, the USD/JPY currency pair tested the support level formed by a combination of the weekly S3 and the monthly S2 at 109.97. During Thursday's morning, the pair declined to the lower boundary of the short-term descending channel at 109.66.
During the previous trading sessions, the GBP/USD exchange rate tried to surpass the support level formed by the weekly S1 at 1.2997.
On Wednesday, the EUR/USD currency pair tried to surpass the 1.1210 level. During today's morning, the pair breached the short-term ascending channel south.
The New Zealand Dollar has been trading in a horizontal channel pattern against the US Dollar.
During the first half of today's trading session, the US Dollar versus the Canadian Dollar broke a resistance level formed by the weekly pivot point at 1.3484. The Greenback continued to appreciating in an ascending channel pattern.
The price movement of the Australian Dollar against the US Dollar was guided by bearish sentiment on Wednesday. The currency pair depreciated about 40 base points during yesterday's trading session.
The common European currency traded sideways against the Japanese Yen on Wednesday. The weekly S3 at 123.13 provided support for the pair during yesterday's trading session.
On Wednesday, gold surged. It was set to reach the 1,292.00 level. Moreover, if the 1,292.00 level is broken, the commodity price should reach up to the 1,300.00 mark.
The USD/JPY has reached the 110.00 level. On Wednesday the support of the 110.00 level and the weekly S3 were keeping the rate from falling. In general, there were two short term scenarios most probable for the pair.
On Wednesday, the GBP/USD broke the support of the previously drawn ascending channel pattern and the combined technical support of the 200-hour simple moving average and a pivot point near 1.3030.
On the hourly chart the EUR/USD had made a big dip down to the 1.1170 level. During the move it revealed that the various technical support levels have only minor strength. Namely, they are not strong enough to keep the pair from falling.
During the past 24 hours, the New Zealand Dollar has depreciated about 103 base points against the US Dollar. The decline was attributed to the New Zealand Central Bank.
The US Dollar appreciated about 77 base points against the Canadian Dollar on Tuesday. The surge was stopped by a resistance level formed by the weekly pivot point at 1.3484.
The Australian Dollar made 0.91% gain during the first part of yesterday's trading session. However, by the end of the day, bears have regained some of their lost positions.
The common European currency depreciated about 110 base points against the Japanese Yen on Tuesday. The currency pair was pressured south by the 50-hour simple moving average.
On Monday, the XAU/USD exchange rate tried to breach the short-term descending channel north.
During the previous trading session, the Japanese Yen appreciated gradually against the US Dollar. On Tuesday's morning, the currency pair traded near the support level—the weekly S1 at 110.51.
Yesterday, the GBP/USD exchange rate declined to the support level formed by the weekly PP at 1.3089.
On Monday, the EUR/USD currency pair tried to surpass the resistance level formed by a combination of the Fibo 38.20%, the weekly PP and the 100-hour SMA at 1.1200.
The New Zealand Dollar was pressured by the 50-hour simple moving average during yesterday's trading session.
The US Dollar depreciated about 0.43% in value against the Canadian Dollar during yesterday's trading session. Tuesday's trading session began with the bearish sentiment, the currency pair breached the lower boundary of an ascending channel pattern at 1.3420.
The Australian Dollar made a strong upside movement against the US Dollar during the early hours of Tuesday's trading session. The currency pair appreciated about 0.91% in value during the European trading session on Tuesday. This surge was attributed to the Australian macroeconomic data release.
The single European currency appreciated about 91 base points against the Japanese Yen on Monday. The currency pair tested a resistance level formed by the 50-hour simple moving average near the 124.20 area during yesterday's trading session.