USD/JPY keeps trading around the monthly pivot point, staying below the 55-day SMA at 102.60 and at the same time above the weekly S1 at 101.20.
The Cable saw no change yesterday, finishing the day at the open price after testing both the resistance trendline and weekly S1 that is currently acting as support.
The common European currency traded just above the weekly PP against the US Dollar on Friday morning.
The bottom trend-line of the four-month wedge at 0.7262, toughened by the weekly S1 and the monthly Pivot Point just below, proved its dominance against NZD/USD movements, causing the rate to reverse and target 0.7305 instead.
A rising wedge pattern directed AUD/CAD movements for the 2007-2013 period, followed by a downward breakout when the RBA executed its rate cut in order to devalue the appreciating currency. A 14 percent dip came as a success of the policies implemented, and established a strong support level at 0.9212 which has carried the pair's movements since then. The support-line
USD/CAD cut its way towards the upper trend-line of the four-month ascending channel short, expressing a slightly bearish attitude with further risk at 1.3130.
AUD/USD showed almost no volatility whatsoever over most of Wednesday, battling 0.7476/83, and restricted by 0.7484 from the downside.
The Euro performed poorly within EUR/JPY , posting losses below the weekly Pivot Point.
The yellow metal tested the resistance of the monthly PP at 1,326.43 once more on Thursday morning.
USD/JPY fetched 103.40 yesterday, but eventually slid back under 102.70, which is represented by the weekly PP and 55-day SMA.
GBP/USD is currently pulling back after the pair broke out of the bullish channel to the downside.
The common European currency had slightly retreated from the day's trading session's opening price against the US Dollar on Thursday morning.
As mentioned before, the Kiwi moved to confirm the rising wedge pattern's lower trend line against the US Dollar, as the currency exchange rate fell to the support cluster below.
As stocks and crude oil rise, the Loonie falls, propping the USD/CAD exchange rate higher, as the pair surged to the 1.32 mark, where it remained mid-Wednesday.
Following the 50 percent rally pre crisis, 0.9542 proved unsustainable, causing EUR/GBP to take on a distinct downtrend, which it maintained for six years since 2009. The pair erased part of the gains with a 30 percent downfall, and it was not until November 2015 when it established an upward sloping channel leading it to a 20 percent recovery up
AUD/USD remained stable on Wednesday after showing unexpected weakness and conclusively breaking the bottom trend-line of the two-month channel.
A set of fundamental data shook markets during Wednesday, making EUR/JPY violate the upper two-month triangle trend-line upon the surprise, but calming shortly after when the pair went on to test the 115.42 resistance level.
Despite a lack of events in the economic calendar the US Dollar managed to strengthen, and now there is a good chance of the pair settling above 102.70, where the weekly PP coincides with the 55-day SMA.
The support trendline (lower bound of the five-week channel) we expected to hold the pair failed before the Cable gained a solid foothold above 1.34 dollars, giving way for a sell-off.
The yellow metal found support in the first weekly support level at 1,315.33 on Wednesday morning, and afterwards the bullion slightly rebounded to trade around 1,320.
The common European currency fell and confirmed a channel up pattern's lower trend line against the US Dollar on Tuesday and once more on Wednesday.
The New Zealand Dollar ended Monday's trading session against the US Dollar just before it attempted to break through the weekly PP at 0.7365.
Tests of the channel bottom trend-line do not seem to have come to an end yet, implying a critical move ahead, when AUD/USD will have to break either the three and a half year senior downtrend or the ascending channel pattern it has been containing itself in for the last two months.
The 114.36/47 level proved itself unbreakable, causing EUR/JPY to bounce and shift into a bullish stance on Tuesday.