During the past 24 hours, the US Dollar has been dashing through various support/resistance levels, testing their boundaries for several hours but nevertheless failing to show any distinctive direction.
The Australian Dollar was guided entirely by the 55-hour SMA on Thursday.
The common European currency remained stranded between the monthly PP and the weekly R1 in the 132.81/133.34 area during the last trading session.
Until beginning of new trading session, a combination of the 55-, 100- and 200-hour SMAs in conjunction with the monthly PP managed to constrain the pair from breaking to the top.
As it was expected, the currency exchange rate made a rebound from combined resistance formed by the monthly PP and the falling 55- and 100-hour SMAs.
A release of better than expected information on the British retail sales supported active appreciation of the Pound and provided an impulse strong enough to break through the 1.3228 resistance level and reach an intersection of upper boundaries of a dominant descending and junior ascending channels.
In line with expectations, the currency exchange rate failed to slip below combined support formed by the 38.2% Fibonacci retracement level and the weekly R2 as well as to climb above combined resistance set up by the 50% retracement level and the monthly R1.
The combined resistance of the 200– and 100-hour SMAs and the bottom channel line circa 0.6920 proved to be an unbreakable barrier for the New Zealand Dollar.
As expected, the Greenback managed to push until the upper channel boundary during the last 24 hours.
Following the massive plunge early on Wednesday, the Aussie has shown little incentive to move away from the 0.7590 territory.
EUR/JPY was driven by significant downside risks on Wednesday, thus resulting in a fall of 86 pips during the session.
Using support provided by the 55-, 100- and 200-hour SMAs together with the monthly PP, the exchange rate managed to climb to the weekly R1 located at 1,287.92.
As it was expected, the currency exchange managed to break below both the psychological 113.00 level as well as the weekly S1 located at 112.86.
As release of British employment and earnings data, generally, was perceived positively, the Pound expectedly climbed to the 1.3200 level.
In first half of the previous trading session the Euro continued to rapidly advance against the Dollar and practically reached the 1.1850 mark.
Following a test of the junior channel, the Kiwi shifted its four-day bearish momentum and managed to move past the weekly S1, the 55-hour SMA and towards a massive resistance cluster formed by the 100– and 200-hour SMAs circa 0.6910.
The US Dollar was fluctuating with no distinctive direction against the Loonie, as the pair remained near the 55-, 100–, 200-hour SMAs, the weekly and monthly PPs on Tuesday.
AUD/USD was stranded between the 55-hour SMA and the weekly S1 on Tuesday.
The common European currency strengthened substantially against the Yen on Tuesday, thus resulting in a 121-pip increase in price.
In first of yesterday's trading session the exchange rate made left the junior ascending triangle pattern in southern direction amid strong pressure from the 55- and 200-hour SMAs.
As it was expected, the currency exchange rate failed to climb above combined resistance formed by the 200-hour SMA and the weekly PP at 113.80.
A release of latest update on the British inflation sent the cable to test support zone near the weekly S1 at 1.3090.
Due to release of much better than expected German GDP data the currency exchange rate not only left the junior rising wedge formation but also managed to break through the upper resistance line of a three-month long dominant descending channel.
The strong resistance of the 100-hour SMA and the weekly PP sent NZD/USD for a breakout of the medium-term ascending channel mid-Monday.