XAU/USD remained stable on Thursday, similarly to other major currency pairs which include the US Dollar.
Thursday's trading session did not introduce significant changes to the pair's price level, as any attempts to move either direction were restricted by the 100-hour SMA and the weekly S1.
Bulls dominated the GBP/USD exchange rate during the first part of Thursday.
EUR/USD showed some volatility on Thursday but it did not leave that session's opening level near 1.1670.
Even though the New Zealand Dollar increases its trading range against the US Dollar during the previous session, the currency pair failed to make a substantial move up due to the weekly resistance level at 0.70.
The bearish momentum has guided the US Dollar down against the Canadian Dollar. By the end of Wednesday's trading session, the exchange rate has lost 171 base point or 1.33%.
After hitting this week low level of 0.74 early Wednesday's the AUD/USD exchange rate started to gain strength. This surge was caused by the general weakness of the US Dollar.
The EUR/JPY currency pair finally stopped its descending movement. By the end of Wednesday's session, bulls managed to take control of the market. Although the pair rally yesterday, the dominant descending pattern are still holding strong.
The yellow metal remained steady against the US Dollar during the previous session, as it was fluctuating around the 55– and 100-hour SMAs on the given day.
The US Dollar remained steady against the Japanese Yen on Wednesday.
Slight upward momentum was apparent for the GBP/USD exchange rate on Wednesday.
Fundamental news drove the common European currency higher on Wednesday, thus allowing it to recover from the ten-month low of 1.1525.
The situation of the NZD/USD currency pair has changed since the last time the pair was reviewed by the Dukascopy Research team.
The USD/CAD exchange rate was driven by downside risks during the first half of Wednesday's trading session.
The Australian Dollar has started to appreciate against the US Dollar since the early hours of Wednesday's trading session. Even though a sign of decline today, bulls managed to gather enough strength to push the pair up towards the SMAs.
The inability of the single European currency to gain strength on Tuesday has an impact on the EUR/JPY exchange rate. The price movement introduced no significant changes to the overall price range during the end of trading session.
The XAU/USD exchange rate has remained stable for the second consecutive day.
Then Yen was strengthened by risk-averse investors on Tuesday.
The Pound was driven by downside risks against the US Dollar on Tuesday.
Political uncertainty in Italy continues to weigh heavily on the common European currency.
Following a reversal from the weekly pivot point at 0.69 yesterday, the New Zealand Dollar began a new move down against the US Dollar. However, this decline was stopped after the pair reached the bottom border of a dominant ascending pattern.
The USD/CAD currency pair continued to strengthen for the third consecutive trading session on Tuesday. This upward movement allowed the pair to reach the upper boundary of a dominant ascending channel.
Following a breakout of the 55–, 100-, and 200– hour simple moving averages on Tuesday, downside risks prevailed and thus drove the AUD/USD currency pair down to the lower boundary of a dominant ascending channel.
Downside sentiment continues to push the single European currency lower against the Japanese Yen. As a result, the pair broke out from the flag like formation pattern.