Following a rebound from the bottom line of a short-term channel, the US Dollar resumed its movement south.
Contrary to expectations, the Aussie managed to gather strength against the US Dollar and push through the 55– and 100-hour SMAs on Wednesday.
The Euro was driven by strong upside momentum on Wednesday in the result of which the rate shot up to the 133.60 mark—a level past the weekly R1, the 23.8% Fibo and the upper wedge boundary.
Despite release of negative data about the American housing market growth, the exchange rate continued to move to the bottom, in the process crossing a combination of the weekly S1 and the lower support line of senior ascending channel.
In result of the previous trading session, the Dollar appreciated against the Yen by 0.82%. In result of such advance the pair has practically returned to the 113.20 level, which represented significant resistance barrier three weeks ago.
Due to release of mixed British employment data, the pair did not get a necessary impulse to make significant moves yesterday.
Initially the currency rate was expected to break through the weekly S1 and try to reach the 100% Fibonacci retracement level.
NZD/USD remained in the 0.7160/0.7195 area for three sessions prior to plunging down to the 200-hour SMA during the first half of Wednesday's trading session.
The previously-drawn channel failed to bound the rate, thus demanding a slight adjustment.
The Australian Dollar continues to depreciate against the Greenback for the third consecutive session.
The Euro was trading relatively stable against the Japanese Yen, as it remained pressured by the 55-hour SMA until early on Wednesday.
Due to release of better than expected data on import prices and industrial production the buck appreciated quite sharply against the gold and has practically reached the bottom boundary of a medium ascending channel.
During previous trading session, the Greenback continued to strengthen against the Yen, fluctuating in two minor ascending channels.
Although inflation report matched with forecasts and Governor Carney once again admitted possibility of interest rate hike, the Pound lost almost 100 points against the Dollar just in couple of hours.
In accordance with expectations, the Dollar continued to gain value against the common European currency, experiencing pressure from the 55-, 100- and 200-hour SMAs as well as the weekly PP.
The New Zealand Dollar failed to gain strength on Monday even despite the strong CPI reading for Q3.
The Greenback has not changed its position against the Canadian Dollar during the last 24 hours, as it is still located just below the weekly R1 at 1.2548.
The Aussie was driven by downside risks on Monday which were guiding AUD/USD towards the weekly PP at 0.7844.
The Euro was able to recover its losses occurring within the first half of Monday, as bulls had managed to push it as high as the 132.40 mark by late evening.
In result of the previous trading session the price of gold decreased by more than 0.86% amid the better than expected New York Manufacturing Index release and lower interest for safe haven assets.
The Dollar edged higher against the Yen, as American officials confirmed their willingness to solve North Korean crisis through diplomatic means, including possibility of direct talks with Pyongyang.
Although the Pound had all means to continue the surge, but confident appreciation of the Dollar prevented the pair from breaking through the monthly PP at 1.3322.
As it was expected, the currency pair failed to pass through the 200-hour SMA from the first attempt.
Upside risks keep pressuring NZD/USD northwards for the third consecutive trading session.