The common European currency has been gradually appreciating against the Australian Dollar since it bounced off the lower boundary of a junior channel at 1.5306 early June.
The movement of the EUR/CAD currency pair has been guided by a junior ascending channel. The pair tested the upper boundary of the channel on June 22 and has since made a temporary retracement down.
The US Dollar reached a new ten-month high against the Polish Zloty at 3.80 during the first trading days in July.
EUR/SEK has been appreciating since mid-June when the rate reversed from the senior channel.
The bullish momentum which began mid-June has driven the Australian Dollar higher against the New Zealand Dollar. This mark 3.10% increased in price range during this short period.
The movement of the US Dollar against the Swiss Franc has been constrained by two ascending channels. The most recent channel was formed on July 9 and has guided the currency pair higher.
The TRY/JPY exchange rate has been consolidating in the 22.6770/24.6465 range since the beginning of June.
The US Dollar has gained 3.30% against the Singapore Dollar during the past few weeks.
The Australian Dollar has been guided by an ascending channel against the Japanese Yen since late June. This movement began after the currency pair reached the weekly pivot point at 80.84.
The Swiss Franc has been constrained by a junior ascending channel against the Japanese Yen since the end of June.
Following a reversal from the upper boundary of a dominate descending channel on June 6, the Australian Dollar has been moving in a one month channel down against the Swiss Franc.
The bullish momentum which dominated the GBP/JPY currency pair since early July has resulted in the pair to revealed a new junior ascending pattern.
The long-term movement of the GBP/NZD exchange rate is being guided by an ascending wedge.
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After reaching the lower boundary of a downtrend channel on July 3, the New Zealand Dollar changed its market sentiment against the Swiss Franc and started to retrace to the upside.
The bearish sentiment which guided the NZD/JPY currency pair during the first half of June has changed its direction. The pair has formed a new junior ascending channel which has steered the rate higher.
Following a retracement from the senior channel near 21.00 mid-June, the US Dollar began depreciating against the Mexican Peso in a channel-like pattern.
The dominant pattern which has constrained the NZD/CHF exchange rate since early April is a descending channel.
The Canadian Dollar has been gaining strength against the Swiss Franc since late June. The upside momentum has sent the currency pair to move from the lower boundaries of both the short and long-term patterns to the upper line and the monthly pivot point.
Following up on last week analysis of the CAD/JPY currency pair. Bulls continued their dominance in the market and sending the exchange rate to breached the upper boundary of a long-term descending pattern.
The US Dollar continues to lose ground against the South African rand in a large scale descending channel pattern. However, not the pattern, but other aspects are to be noted more importantly.
The US Dollar, as expected previously, surged against the Danish Krona. However, the surge did not occur exactly as expected. Namely, the currency exchange rate surged more than expected.
The Pound Sterling was driven by strong downside sentiment against its Canadian counterpart since June 22 and thus fell by 2.59%.
The British Pound has been trading in a junior ascending channel against the Australian Dollar. The exchange rate bounced off the bottom border of the pattern on June 5 and has since rallied.