Bearish sentiment continued to dominate the EUR/JPY currency pair. After a short period of consolidation during yesterday trading session, the rate took a dive further south.
The yellow metal was guided by strong upside risks on Wednesday.
The US Dollar has still failed to gain strength against the Japanese Yen, thus lingering slightly above the 2017/2018 low of 105.35.
GBP/USD was guided primarily by the 55-hour SMA during the first part of Wednesday which allowed to reach a three-week resistance of 1.4080.
The Euro spent most of Wednesday in a positive note, thus approaching the combined resistance of the 55– and 100-hour SMAs at 1.23.
The New Zealand Dollar continues to decline against the US Dollar, the pair has already lost more than 80 basis points by the end of the European trading session.
The USD/CAD exchange rate finally stopped its ascending movement. By the end of Tuesday's session, bears took control over the currency pair. However, the dominant ascending channel is still holding.
The Australian Dollar continues its smooth journey in a descending channel against the US Dollar. By the end of Tuesday's trading session, the currency pair has reached a three-month low.
The common European currency continued to lose strength against the Japanese Yen, and by the end of Tuesday's session, the currency pair had moved back to the junior pattern.
Gold was generally bearish against the US Dollar on Tuesday even though it managed to regain some of the lost positions by Wednesday morning.
Demand for the US Dollar increased on Tuesday which was boosted by positive growth in the US Treasury bonds.
The Sterling was generally steady against the US Dollar on Tuesday, as traders were awaiting patiently for the Fed monetary policy statement at 1800GMT.
The US Dollar grew stronger on Tuesday, thus pushing the EUR/USD exchange rate considerably lower.
The New Zealand Dollar continues losing ground against the US Dollar. The currency pair was guided by the 55—hour simple moving average during yesterday session.
The US Dollar continues its bullish path against the Canadian Dollar, the exchange rate is gradually moving in an ascending channel.
The Aussie has been confined by a descending channel against the Greenback since late January. The upper boundary of a junior pattern was reached on March 14 and has since been moving along the channel.
Even though the common European currency has increased its trading range against the Japanese Yen during the previous session, the EUR/JPY exchange rate failed to make any substantial movement.
A reversal from the 1,310.00 territory early on Monday was followed by a sharp upside pressure for Gold, as the weakening of the US Dollar boosted demand for the commodity.
The US Dollar continues to consolidate for the third consecutive session.
The British Sterling was bounded by moving averages during the first part of Monday, thus trading in line with a short-term channel down.
The Euro rallied against the US Dollar on Monday, thus closing the session with a 55-pip gain.
The New Zealand Dollar has bee trading in a channel down against the US Dollar since early February. The Pair Jumped off the upper boundary of a dominant channel on February 5 and has since remained bearish.
Upside momentum prevailed in the market on Friday, thus letting the Greenback to gained further 60 basis point against the Canadian Dollar.
The Australian Dollar continues its bearish path against the US Dollar, the currency pair is slowing moving in a descending junior channel.