The US Dollar declined by 47 points or 0.35% against the Canadian Dollar on Monday. The currency pair tested the lower boundary of an ascending channel pattern during yesterday's trading session.
The Australian Dollar declined by 43 points or 0.63% against the US Dollar on Monday. The decline began after the currency pair tested the resistance cluster at 0.6884 during the previous session.
The common European currency surged by 80 points or 0.67% against the Japanese Yen on Monday. The currency pair tested the weekly resistance level at 121.13 during yesterday's trading session.
On Friday, the XAU/USD exchange rate re-tested the lower boundary of the medium-term ascending channel. During today's morning, the rate was testing the monthly R1 at 1,773.62.
At the end of last week, the USD/JPY currency pair tested the monthly PP at 107.33. During today's morning, the pair was trading near the given resistance.
Last week, the GBP/USD exchange rate revealed a medium-term descending channel. During Monday morning, the rate pierced the monthly PP at 1.2346.
On Friday, the EUR/USD currency pair consolidated in the 1.1220 area. During today's morning, the pair was testing the 100-hour SMA near 1.1260.
The New Zealand Dollar declined by 48 pips or 0.75% against the US Dollar on Friday. The currency pair was pressured lower by the 200– hour simple moving average.
The US Dollar declined by 61 pips or 0.44% against the Canadian Dollar on Friday. The currency pair tested the 50– hour simple moving average at 1.3651 on Monday morning.
The Australian Dollar declined by 48 pips or 0.69% against the US Dollar on Friday. The currency pair was pressured lower by the 200– hour simple moving average during Friday's trading session.
The common European currency has surged by 72 pips or 0.60% against the Japanese Yen since Friday's trading session. A breakout occurred through the upper boundary of a descending channel pattern on Monday morning.
Yesterday, the XAU/USD exchange rate traded sideways in the 1,760.00 area. During Friday morning, the rate maintained its consolidation.
On Thursday, the USD/JPY currency pair consolidated at 107.20. During today's morning, the pair was testing the Fibo 38.20% at 106.86.
Yesterday, the GBP/USD exchange rate traded sideways in the 1.2420 area. During Friday morning, the rate maintained its consolidation.
On Thursday, the EUR/USD currency pair consolidated in the 1.1220 area. During today's morning, the pair maintained its consolidation.
Yesterday, the XAU/USD exchange rate touched the 1,780.00 level and reversed south. During Thursday morning, the rate was trading at 1,765.00.
The USD/JPY currency pair declined to the support level— weekly S2 at 106.09 and reversed north. During today's morning, the pair was trading near the resistance level—the monthly PP at 107.33.
On Tuesday, the GBP/USD exchange rate breached the medium-term ascending channel north. As apparent on the chart, the rate reversed south from the 1.2540 mark.
On Tuesday, the EUR/USD currency pair breached the medium-term falling wedge pattern north. However, the pair failed to exceed the 1.1340 level and reversed south.
In the upcoming trading sessions on Tuesday and Wednesday, the metal was expected to trade sideways or surge.
The USD/JPY has continued to trade in the range between the 106.80 and 107.00 levels. In theory, any sideways trading ends. It can end by surging or declining.
In the near term future, the rate is expected to once again make an attempt to pass the support of the monthly simple pivot point at 1.2346.
During early Monday's GMT trading hours, the EUR/USD currency exchange rate bounced off the support of the lower trend line of a descending pattern. It resulted in a surge, which by the middle of the day's trading had reached above 1.1220.
Yesterday, the XAU/USD exchange rate re-tested the lower boundary of the medium-term ascending channel. During Friday morning, the rate reversed north.