After experiencing a sharp surge and decline on Thursday, on Friday morning, the yellow metal's price was testing the resistance of the 1,950.00 level. The 1,950.00 level was also strengthened by the 200-hour simple moving average.
As the announcement of the Japanese Prime Minister Shinzo Abe resigning was made, the USD/JPY started to trade with high volatility. However, it has continued to respect technical levels. Namely, the support of a channel up pattern held and caused a surge.
The New Zealand Dollar rose by 73 points or 1.11% against the US Dollar on Thursday. The currency pair tested the upper line of an ascending channel pattern at 0.6680 during the London open on Friday.
On Friday, the GBP/USD traded above the previous high level of 1.3258. In general, the pair had no technical resistance and was expected to surge. However, the 1.3280 level appeared to keep the rate down.
On Friday morning, the EUR/USD was testing the resistance of the 1.1900 level. Note that this level stopped the sudden increase of volatility, which occurred on Thursday. In the near term future, the pair had two scenarios.
The US Dollar has declined by 80 points or 0.61% against the Canadian Dollar since yesterday's trading session. The currency pair breached the weekly support line at 1.3115 on Friday morning.
The Australian Dollar has surged by 83 points or 1.16% against the US Dollar since Thursday's trading session. The currency pair tested the upper boundary of an ascending channel pattern on Friday morning.
Upside risks have dominated the single European currency against the Japanese Yen since Thursday's trading session. The currency pair has surged by 159 points or 1.27% during the past 24 hours.
Yesterday, the XAU/USD exchange rate reversed north from the monthly PP at 1,907.07. During Thursday morning, the rate was testing the 200-hour SMA near 1,950.00.
On Wednesday, the USD/JPY exchange rate dropped to the weekly PP at 105.88. During today's morning, the rate was testing the monthly PP at 106.09.
Yesterday, the GBP/USD exchange rate raised to the upper boundary of the short-term descending channel circa 1.3200. During Thursday morning, the rate was testing the given line.
On Wednesday, the EUR/USD currency pair failed to exceed the resistance formed by the weekly PP and the 200-hour SMA circa 1.1840. During today's morning, the pair was testing the given resistance.
The New Zealand Dollar edged higher by 83 pips or 1.26% against the US Dollar on Wednesday. A breakout occurred through the upper boundary of a descending channel pattern during Wednesday's trading session.
The US Dollar declined by 64 pips or 0.49% against the Canadian Dollar on Wednesday. The currency pair breached the monthly support level at 1.3146 during Wednesday's trading session.
The Australian Dollar surged by 61 pips or 0.85% against the US Dollar on Wednesday. The currency pair tested the weekly resistance level at 0.7244 during yesterday's trading session.
The common European currency declined by 75 pips or 0.59% against the Japanese Yen on Wednesday. The currency pair tested the 100– hour simple moving average at 125.26 during Wednesday's trading session.
Yesterday, the XAU/USD exchange rate traded sideways in the 1,915.00/1,940.00 range. During Wednesday morning, the rate maintained its consolidation.
On Tuesday, the USD/JPY currency pair raised to the 106.60 level. During today's morning, the pair reversed south.
Yesterday, the GBP/USD exchange rate raised to the 1.3160 level. During Wednesday morning, the rate was testing the given level.
On Tuesday, the EUR/USD currency pair tested the weekly PP at 1.1839. During today's morning, the pair reversed south.
The New Zealand Dollar has continued to consolidate below the 0.6558 level against the US Dollar. The currency pair breached the 50– and 100– hour SMAs during yesterday's trading session.
The US Dollar declined by 69 basis points or 0.52% against the Canadian Dollar on Tuesday. The currency pair breached the 50-, 100– and 200– hour SMAs during yesterday's trading session.
The Australian Dollar edged higher by 48 basis points or 0.67% against the US Dollar on Tuesday. The currency pair breached the upper boundary of a descending channel pattern during Tuesday's trading session.
The common European currency surged by 106 basis points or 0.85% against the Japanese Yen on Tuesday. The currency pair tested the weekly resistance level at 126.00 during yesterday's trading session.