Due to release of the minutes of the European Central Bank's December meeting the common European currency appreciated against the buck by 0.87% just in couple of hours and reached the weekly PP at 1.2040.
NZD/USD was stranded between the 55– and 100-hour SMAs and the weekly and monthly R1s during the previous session.
After testing the 55-hour SMA mid-Wednesday, bulls took over the market, thus allowing for a price increase up to the 1.2580 mark.
Upside risks prevailed in the market on Wednesday and thus sent the Aussie for a surge against the US Dollar.
Despite signals pointing to a possible recovery during the previous session, EUR/JPY failed to overcome the bearish pressure, thus ending the day with a 122-pip fall.
Contrary to expectations, the exchange rate failed to sneak below the combined support formed by the lower trend-line of a junior ascending channel and the 200-hour SMA.
Due to fears of a large reduction in foreign Dollar asset purchases, the American currency fell by 0.86% against the Yen just in couple of hours.
In essence, the past 24 hour the cable spent testing different support levels.
As it was projected yesterday, bulls did not succeed to push the Euro through second combined resistance barrier formed by the weekly S1 together with the 100- and 200-hour SMAs.
Following a slight period of consolidation on Tuesday, the New Zealand Dollar was driven by strong upside risks today.
Tuesday's trading session confirmed that the US Dollar is gradually regaining some strength against the Loonie.
AUD/USD spent the second half of Tuesday's trading session below the 200-hour SMA.
The common European currency continues to depreciate against its Japanese counterpart for the third consecutive session.
Contrary to expectations, gold traders decided not to wait this week's American fundamental data releases and pushed the pair from symmetrical triangle pattern.
In accordance with expectations, the Dollar continued to lose value against the Yen.
In result of the previous trading session the currency rate has broken through support line of a one-month long ascending channel, thus ending the consolidation phase.
The appreciation of the Dollar continued on Tuesday, as expected. After reaching support level set up by the monthly PP at 1.1917 the currency rate resumed the surge.
After confirming a medium term channel up pattern's lower trend line on Tuesday morning, the New Zealand Dollar looked like ready to surge against the Greenback.
The US Dollar's rebound against the Canadian Dollar has on Tuesday done two notable moves.
By the middle of Tuesday's trading session the Australian Dollar had plummeted against the US Dollar. The pair had fallen through various support levels in a sharp move, which stopped near the support of the 200-hour simple moving average near the 0.7825 mark.
The decline of the Euro against the rest of the financial instruments continued on Tuesday. The EUR/JPY currency pair was no exception to the rule.
In accordance with expectations, previous trading session the exchange rate spent in a horizontal movement.
The five-day surge of the Dollar against the Yen was stopped by the upper trend-line of medium scale symmetrical triangle, as expected.
The British Pound is continuing to slowly advance against the Dollar in a one-month long ascending channel.