The yellow metal strengthened against the US Dollar for the second consecutive session on Thursday.
The weekly R1 at 109.90 proved to be an unbreakable resistance for USD/JPY during the previous session; thus, the pair was pressured down to the bottom boundary of a five-week channel.
GBP/USD's movement was driven by fundamental events on Thursday.
The Euro managed to maintain its upward movement against the US Dollar and consequently breach the 100-hour SMA on Thursday.
Bears continue their dominance over the NZD/USD currency pair. As shown on the chart, the exchange rate has breached both the monthly and the weekly pivot points near the 0.6929 area.
The failure for bulls to gain strength on Wednesday has an impact on the USD/CAD currency pair. The first part of the day introduces no significant changes to the overall price level.
Bulls managed to regain control of the market on Wednesday. By the end of trading day, the Australian Dollar has accumulated 54 base point, (0.75%) against the US Dollar.
The common European currency has been gradually moving upward against the Japanese Yen since the last two days. This move was supported by the 55– hour simple moving average.
High volatility was apparent for the XAU/USD pair on Wednesday.
The strong two-hour surge on Wednesday morning was followed by a period of consolidation slightly below the weekly R1.
Despite generally bearish indicators, the Sterling eventually gathered the necessary upside momentum to dash through the 55– and 100-hour SMAs and reach the weekly PP at 1.36 on Wednesday.
Following a slight period of weakness on Wednesday morning, the Euro picked up momentum against its American counterpart and reached the 55-hour SMA.
The New Zealand Dollar has stopped its decline against the US Dollar. The pair reverse after reaching the lower boundary of a junior descending channel.
The weekly pivot point at 1.2970 proved to have enough strength to drive the USD/CAD exchange rate south. Though, the 55– hour simple moving average is currently providing support for the rate at 1.2918.
Even though the Australian Dollar made a little effort to appreciate against the US Dollar on Tuesday, the exchange rate was driven by a downside risk by the end of business day.
The previously described scenario on Tuesday regarding the common European currency actually came to reality. After the exchange rate reached the weekly support level at 129.40 it made the corrective move north.
The yellow metal remained tangled around the 55-, 100– and 200-hour SMAs for the third consecutive session on Tuesday.
Tuesday's trading session was spent in a calm manner for the USD/JPY exchange rate, as it remained pressured to the downside by the 200-hour SMA.
If looking from an intraday perspective, the Pound remained stable against the US Dollar on Tuesday.
The common European currency was not able to surpass the strong resistance of the 55-hour SMA on Tuesday morning as a result of which bears saw an opportunity to push the rate lower.
The New Zealand Dollar has been depreciating in a descending channel against the US Dollar after the pair touched the upper boundary of a junior channel down on April 19.
The Greenback continue its movement in an ascending channel against the Canadian Dollar. By the end of trading day on Monday, the currency pair has moved past the double-header resistance level at 1.2920.
The Australian Dollar has shown high volatility against the US Dollar today. During this period, the currency pair has reached the lower boundary of a dominant descending channel.
Downside risks dominated the single European currency on Monday, as the currency pair ended the day with a 63 base point lose. Along the rate breakout from the monthly pivot point at 130.10.