After the previously drawn channel pattern was broken, a broader looks was made on the USD/NOK currency exchange rate's charts.
The US Dollar reached the previously set target at the 64.15 mark against the Russian Ruble. After reaching the target the currency exchange rate bounced off the resistance provided by the upper trend line of a medium term ascending channel pattern. The trend line was also strengthened by a pivot point level.
The NZD/CHF currency pair has been trading in a descending pattern during the past two weeks. The exchange rate tested the dominant channel on June 14 and fell to a one-month low level.
The Eurozone single currency has been moving in several uptrend and downtrend line against the British Pound since August 2017. The currency pair is currently trading is a triangle pattern.
EUR/CZK reversed from the senior channel at 25.95 late in May and began edging lower.
The bearish movement was guiding the EUR/SEK exchange rate since early May until the bottom channel boundary of the senior channel was reached at 10.10 mid-June.
The price movement of the AUD/CAD currency pair has been constrained by a medium-term ascending channel. The exchange rate re-tested the lower boundary of the channel on June 19 and followed by 100-pips gain.
The Australian Dollar has been moving in several channel down against the Japanese Yen. The most important of which is the medium-term descending channel form on June 7 and has guided the currency pair lower.
USD/NOK is trading in a long-term ascending channel.
The USD/RUB exchange rate has been bounded in a symmetrical triangle since early April.
The common European currency has appreciated significantly against Canadian Dollar since the end of May.
The movement of the EUR/AUD currency pair has been guided by a junior ascending channel. The exchange rate made a U-turn from the lower boundary of the junior pattern on June 6 and has since strengthened.
The US Dollar has been stranded in the 8.5765/8.9830 range since late April.
AUD/NZD is trading in several channels simultaneously.
The downward movement predicted last week for the GBP/CAD exchange rate did not come into reality. Bulls took control of the market and as a result, a breakout occurred through the upper boundary of a descending pattern.
Following up on last week Monday analysis for the British Pound against the Australian Dollar. Bulls strengthened their position as expected and managed to move past the 200– hour simple moving average at 1.7782.
The Euro has been ranging against the Swiss Franc since late May.
The US Dollar was trading sideways against the Chinese Yuan during the first two weeks of June.
The Australian Dollar has depreciated significantly against the Swiss Franc since the beginning of June. The decline started after the currency pair hit strong resistance cluster formed by the weekly and the monthly PPs near the 0.7570 mark.
The Swiss Franc has been moving in several patterns against the Japanese Yen since the beginning of this year. The currency pair is currently trading in a falling wedge-like formation.
The Pound began depreciating against the Japanese Yen following a breakout of a one-year channel up mid-May.
The Sterling has been trading sideways against the Swiss Franc since late May, as it failed to depreciate after breaching a one-year senior channel to the downside.
The NZD/CAD exchange rate has been trading in a narrow ascending channel since mid-May. The currency pair bounced off the lower boundary of the narrow pattern on May 15 and has since gained 390 base points.
The price movement of the NZD/JPY exchange rate has been constrained by a junior ascending pattern. The currency pair re-tested the lower boundary of the ascending channel during the early hours of Monday's trading session.