As previously forecasted by the Dukascopy research team, the pair met with a strong support cluster near the 1.2450 mark, where the 55 – hour, 100 – hour and 200 – hour SMAs together with the weekly PP are providing support.
During the second half of Monday's trading session, the Aussie broke the support of the 55- and 100-hour SMAs, which were located just near the 0.80 mark.
The previous forecast for the pair's movement was wrong. The analysis was based on Fibonacci retracement levels, which should have forced the currency exchange rate to move south.
XAU/USD spent Monday's trading session within the bounds of the 100– and 200-hour SMAs and the weekly PP in the 1,329.07/1,334.85 area.
USD/JPY was struggling to move past the 100-hour SMA and the weekly PP during the first half of Monday.
The Pound was driven by strong upside momentum against the Greenback on Monday, thus closing the session with a 94-pip gain.
The Euro remained stable against the US Dollar during the previous session.
The New Zealand Dollar has passed the support of the previously active medium channel up pattern against the US Dollar. However, the currency exchange rate was not below Friday's trading session's levels.
The previous expectations from the USD/CAD currency exchange rate have not fulfilled. The Buck has regained ground against the Loonie. Moreover, the upper trend line of the dominant descending channel pattern was broken.
The support cluster on the AUD/USD pair's chart, which was described on Friday did not hold its ground for long.
The previous forecast for the EUR/JPY currency exchange rate was wrong. Our analysts were watching, whether the scenario of a surge would begin after the pair encounters the combined support of the 55 and 100-hour SMAs
The strong upside momentum that drove Gold on Friday morning reversed south near the 1,338.00 mark.
The bearish sentiment prevailed in the market on Friday.
Friday's trading session ended with a 39-pip loss for the GBP/USD exchange rate.
EUR/USD's reversal from the 1.2285 mark mid-Friday confirmed the formation of a new descending channel.
The NZD/USD pair's previous encounter of the medium ascending channel pattern's lower trend line resulted in a surge. A surge which attempted to break past the resistance levels near the 0.7320 mark twice.
As it was expected, the upper trend line of the dominant channel down pattern of the USD/CAD currency exchange rate held its ground and forced the currency pair into a retreat.
As the AUD/USD pair reached the previously set target of 0.8020 and lingered near it through the most part of the first half of Friday's trading session.
As it was expected on Thursday, the Euro has booked new high levels against the Japanese Yen. However, the desired high level of 136.50 was not touched.
After breaching a six-week ascending channel late on Wednesday, Gold should have moved away from its bottom boundary.
Even though the Greenback was tended southwards on Thursday, it remained stranded between the monthly S2 and the 200-, 55– and 100-hour SMAs for the whole session.
The Pound continues to appreciate against the US Dollar for the sixth consecutive session.
The common European currency was driven by strong upside momentum on Thursday.
An unexpected turn of events occurred in regards to the New Zealand Dollar against the US Dollar currency pair. Namely, the pair rebounded and gained new high levels before it was previously forecast.