The yellow metal was guided by bulls on Wednesday who strengthened their positions during the second part of the session.
The US Dollar was pressured by bears on Wednesday which resulted in a breakout of the 55– and 100-hour SMAs early in the session.
Mid-Wednesday was spent with high volatility for the GBP/USD exchange rate.
Despite high volatility, the common European currency remained stable against the Greenback on Wednesday.
The New Zealand Dollar continues its neat journey in an ascending channel against the Buck. By the end of US session on Tuesday, the pair has reached a new one-month high at 0.7390.
The USD/CAD exchange rate continued to depreciate on Wednesday but with considerably lower volatility than the previous sessions. However, the pair still managed to breach the lower boundary of a dotted trend-line.
The Australian Dollar remained stable and gradually moving north against the US Dollar. During the middle of Wednesday's trading, the currency pair breached the monthly and the weekly PPs near 0.7750.
The upside momentum of the common European currency against the Japanese Yen has been temporarily stopped by a resistance cluster set by the combination of the monthly R1 and the weekly R2 at 132.67.
XAU/USD continues to appreciate for the third consecutive session.
USD/JPY has managed to maintain its sideways movement for the fourth session in a row.
Bulls have still refused to abandon their positions for the third consecutive session, thus managing to push the Sterling even higher against the US Dollar.
Upside risks continue to dominate the EUR/USD exchange rate.
Bulls continue their dominance over the NZD/USD exchange rate. As display on the chart, the currency pair has breached the Weekly R1 at 0.7331 and has also tested the upper boundary of a dominant ascending channel.
The failure of the US Dollar to gain strength on Monday had an impact on the USD/CAD exchange rate. The morning session did not introduce significant changes to the overall price level.
Bulls managed to regain control of market yesterday. By the end of Monday's trading session, the AUD/USD currency pair accumulated approximately 59 basis point.
The Single European currency has been gradually appreciating against the Japanese Yen for last one week. This movement has been directed by the 55– hour simple moving average.
Gold demonstrated high fluctuation against the Greenback on Monday.
USD/JPY remained in between the 55– and 200-hour SMAs on Monday.
Despite flashing bearish signals early on Monday, the Sterling managed to maintain its high positioning against the US Dollar and even push higher during the previous session.
The common European currency has been steadily appreciating against the US Dollar for the third consecutive session.
The bullish momentum has guided the New Zealand Dollar up against the US Dollar. By the middle of Monday's trading session, the currency pair has reached the 0.7305 mark.
The Greenback has been trading in a short-term descending channel against the Canadian Dollar. This short-term pattern was formed on April 2 and has since been moving along the channel.
Bears continue their dominance over the AUD/NZD currency pair. As shown on the chart, the Aussie has reached the lower boundary of an ascending channel and could be set for a breakout within this session.
The common European currency continues to trade in a one-week junior ascending pattern against the Japanese Yen.