The patterns of the AUD/USD currency pair, whose existence was speculated on Wednesday, have fully revealed themselves on Thursday.
As the Euro bounced off the long term ascending channel pattern's upper trend line against the Japanese Yen, it began a decline, which stopped at the middle of Thursday's trading session.
In the second half of Wednesday the Greenback appreciated against all major currencies, including the gold.
Yesterday the currency pair failed to soar towards the weekly PP at 111.15.
In late Wednesday, the currency exchange rate made an attempt to break from a supposed head and shoulders pattern.
In line with expectations, during the previous trading session the currency exchange rate managed to soar to the weekly R2 at 1.1878 and made a subsequent rebound from it.
As described yesterday, the New Zealand Dollar began its descent against the US Dollar down to the combined support of the weekly S1 and monthly PP after breaking out of the medium term ascending channel.
The USD/CAD currency exchange rate broke out of the triangle pattern soon after the analysis was published by the Duakscopy Research team.
After the breaking of the ascending channel pattern the Australian Dollar continued to fall against the US Dollar.
The common European currency recently encountered a dominant resistance line against the Japanese Yen.
The first half of previous trading day the yellow metal spent in a confident upward movement, supported by the 55-hour SMA near 1,267.26 as well as the release of a number of disappointing US macroeconomic data.
Contrary to expectations, the weekly S1 located at the 110.11 level proved to be a very strong support barrier.
Even though both British and the US Manufacturing PMIs matched with experts' forecasts, the currency exchange rate did not manage to reach the weekly R2 located at the 1.3264 level.
Contrary to expectations, an announcement of the US Manufacturing PMI caused only an eight basis points market reaction.
The New Zealand Dollar suffered losses against the US Dollar during the first half of Tuesday's trading session. The currency pair even broke out of the ascending channel pattern to the downside.
During the last two trading sessions the US Dollar has been kept lower against the Canadian Dollar by the resistance of the 200-hour SMA.
The Australian Dollar has broken out of the short term triangle pattern to the downside against the US Dollar.
The common European currency reached the resistance of a ascending triangle pattern against the Japanese Yen
After a notable surge on Friday, the last day of July the bullion spent in a steady horizontal movement against the American Dollar.
In the second half of Monday the American Dollar continued to move along the 20-hour SMA and the former triangle's upper resistance line.
Contrary to expectations, the currency exchange rate left a rising wedge formation in the northern direction straight through the weekly R1 at 1.3200.
The Euro is continuing to advance against the American Dollar in a rising wedge pattern.
Beginning of the new trading week, the currency exchange rate started slightly below the monthly R2 located at the 0.7535 level.
An announcement of the Canadian GDP last Friday strengthened the Loonie and helped the currency pair to slide to the 1.2421 level, from which it started Thursday's surge.