The USD/CAD currency pair has been trading in an ascending channel pattern since the beginning of this week.
The Australian Dollar is trading between the monthly pivot point at 0.7328 and the weekly R1 at 0.7308 against the US Dollar.
The EUR/JPY currency pair tested the 50-hour simple moving average at 128.67 on Thursday.
The New Zealand Dollar surged by about 100 base points against the US Dollar on Wednesday. The exchange rate was supported by the 50– and 100-hour SMAs during yesterday session.
The USD Dollar plummeted about 115 base points against the Canadian Dollar on Wednesday. The currency pair breached both the 50– and 100-hour SMAs at 1.3280 and 1.3243 during yesterday's session.
The Australian Dollar surged on Wednesday trading session and reached a resistance level formed by the monthly pivot point at 0.7328.
The single European currency appreciated about 100 base points against the Japanese Yen on Wednesday. The currency pair dashed through a resistance cluster formed by the weekly and the monthly PPs at 128.95 during the end of yesterday's session.
The New Zealand Dollar appreciated by about 56 base points against the US Dollar on Tuesday. The exchange rate breached both the 50– and 100-hour SMAs near 0.6800 during Tuesday's session.
The US Dollar appreciated about 90 base points against the Canadian Dollar on Tuesday. However, after hitting a resistance level set by the weekly R1 at 1.3329. the currency pair made a U-turn down.
The Australian Dollar depreciated about 70 base points against the US Dollar on Tuesday. The currency pair tested the monthly pivot point at 0.7200 during yesterday's session.
Positions Today Yesterday % Change Longs 47% 48% -2.13% Shorts 53% 52% 1.89% Indicator 4H 1D 1W MACD
A strong resistance cluster formed by the combination of the 200-hour simple moving average and the weekly PP at 0.6810 pressured the New Zealand Dollar south against the US Dollar.