The Australian Dollar has surged by 76 pips or 1.00% against the US Dollar since Tuesday's trading session. The currency pair breached the weekly R1 at 0.7654 on Wednesday morning.
The common European currency declined by 39 pips or 0.31% against the Japanese Yen on Tuesday. The currency pair tested the 126.80 level during yesterday's trading session.
Monday's forecast had not changed, as the metal remained impacted by the same support level of the 200-hour SMA and still faced the resistance zone that surrounds the 1,900.00 level. The metal's price is expected to once again test the resistance of the 1,895.00/1,907.00 zone. In the case of this resistance failing, the pair would find resistance in round price
By the start of Tuesday's US trading hours, the USD/JPY was once again testing the resistance of the 103.70 zone. In the case of the 103.70 zone being passed the rate would aim at the resistance of the 103.90 level. If the 103.90 mark fails to provide resistance, the next targets would be first the 104.00 level and afterwards the
It was spotted on Tuesday morning that the 55-hour simple moving average had the capability to keep the rate down. Namely, the rate stopped its surge and started to trade sideways, as the SMA approached it. If the SMA continues to provide resistance and move lower, it should push the rate down to test the 1.3430 level. The 1.3430 level
On the hourly candle chart the rate was testing the resistance of the December high levels. The high levels are marked as a zone from 1.2250 to 1.2275. In addition, the rate faces the resistance of the weekly R1 simple pivot point at 1.2262. Meanwhile, take into account that on Tuesday a channel up pattern was added to the
New Zealand's currency declined by 48 basis points or 0.68% against the US Dollar on Monday. The decline was stopped by the 100– hour simple moving average during yesterday's trading session.
The US Dollar surged by 57 basis points or 0.44% against the Canadian Dollar during the first half of yesterday's trading session. The currency pair tested the upper line of a descending channel pattern at 1.2868 on Monday.
Australia's currency fell by 56 basis points or 0.74% against the Greenback on Monday. The decline was stopped by the weekly pivot point at 0.7557 during Monday's trading session.
The single Eurozone currency rose by 79 basis points or 0.63% against the Japanese Yen on Monday. The currency pair tested the 126.98 level during the Asian session on Tuesday.
In regards to the near term future, the metal's price was expected to once again test the resistance of the 1,895.00/1,907.00 zone. In the case of this resistance failing, the pair would find resistance in round price levels. For example, the 1,920.00 level could provide resistance, as it did in October.
In the near term, the rate was expected to test the resistance of the zone near 103.70. If this level fails to hold the rate down, the pair should reach for the 103.90 level, which kept the pair down in December 16 and 21.
In the near term future, the rate was expected to be pushed up by the 100 and 200-hour simple moving averages. A surge should reach for the combined resistance of the 55-hour SMA and the upper trend line of the recently added channel down pattern. If the described resistance levels hold, the rate should test the support of the 100 and
On Monday, the EUR/USD broke the resistance of the descending trend line, which kept the rate down since December 17. However, the following break out up was stopped by the resistance of the high level of December 21 and 22. By the start of Monday's US trading hours, the currency exchange rate had retraced to the support of the
The New Zealand Dollar is currently trading in a narrow ascending channel pattern against the US Dollar. The currency pair has surged by 57 points or 0.81% since December 24.
The US Dollar is gradually edging lower in a descending channel pattern against the Canadian Dollar. The currency pair declined by 30 points or 0.24% during the morning hours on Monday.
The 50– hour simple moving average has guided the Australian Dollar higher against the US Dollar since December 22. The AUD/USD currency pair breached the 0.7620 level during the Asian session on Monday.
The common European currency surged by 47 points or 0.37% against the Japanese Yen during the Asian session on Monday. The EUR/JPY currency pair tested the upper boundary of a descending channel pattern at 126.48.
Yesterday, the XAU/USD exchange rate declined to the support formed by the 200-hour SMA and the Fibo 23.60% near 1,860.00.
Yesterday, the USD/JPY currency pair reversed south from the 103.70 level.
Since Tuesday, the GBP/USD exchange rate has been trading sideways between the weekly S1 and the weekly PP, located at 1.3329 and 1.3477 respectively.
On Tuesday, the EUR/USD currency pair reversed north from the support level—the weekly S1 at 1.2159.
Since Tuesday, the XAU/USD exchange rate has been trading below the resistance provided by the 55-hour SMA near 1,883.00.
Yesterday, the USD/JPY currency pair failed to exceed the 200-hour moving average near 103.80. During Tuesday morning, the pair was testing the resistance formed by the weekly PP and the 55-hour SMA near 103.45.