The 50– and 100-hour simple moving averages have guided the EUR/JPY currency pair towards the lower boundary of a medium-term descending channel pattern at 123.75.
The New Zealand Dollar traded with low volatility against the US Dollar on Tuesday. However, the New Zealand macroeconomic data releases changed the overall position of the currency exchange rate during the Asian trading session on Wednesday.
The US Dollar traded with low volatility against the Canadian Dollar on Tuesday. The currency pair moved just about 32 base points during yesterday's trading session.
As predicted, the New Zealand Dollar hit a resistance cluster formed by the weekly and the monthly pivot points at 0.7147 during yesterday's trading session. After the currency pair tested the resistance cluster, a pullback occurred as expected.
The single European currency tested a resistance cluster formed by the weekly and the monthly PPs at 124.95 during the previous trading session. After hitting the resistance cluster, the currency pair began to depreciate. At the end of yesterday's trading session, the exchange rate has lost about 0.58% of its value.
During Tuesday's trading session, the yellow metal traded between the 55-hour and the 100-hour simple moving averages to break the medium pattern line at 1,316.00. On Wednesday morning, gold was located above the medium pattern line at the 1,316.86 mark.
During Tuesday's trading session, the currency exchange rate was supported by the weekly pivot point to end the trading session at 110.50. On Wednesday morning, the rate was located above the monthly pivot point at the 110.64 mark.
During Tuesday's trading session, the British Pound depreciated against the US Dollar to pass through 200-hour simple moving average. During Wednesday's midnight hours, the rate kept depreciating to trade at the 1.3188 mark.
During Tuesday's trading session, the European Single Currency depreciated against the US Dollar to pass through the small pattern line to the 1.1240 level as it was predicted! On Wednesday morning, the rate was located above the monthly S1 at the 1.1267 mark.
During yesterday's trading session, the yellow metal broke through the resistance of the medium pattern line at the 1,318.00 mark as it was expected! On Tuesday morning, the rate depreciated against the US Dollar to fit back to the medium pattern line to trade at the 1314.47 mark.
During Monday's trading session, the currency exchange rate traded sideways to end the trading day at 110.20. On Tuesday morning, the rate was supported by the 55-hour simple moving average to trade at the 110.38 mark.
During Monday's trading session, the currency exchange rate traded sideways between the 55-hour and the 200-hour simple moving averages at 1.3150 level. On Tuesday morning, the rate was supported by the 55-hour simple moving average to trade at the 1.3209 mark.
During Monday's trading session, the currency exchange rate traded sideways to end the trading session at 1.1300 as it was expected. On Tuesday morning, the European Single Currency broke through the resistance level of the 55-hour simple moving average to trade at the 1.1318 mark.
The New Zealand Dollar appreciated about 50 base points against the US Dollar on Monday. The surged was stopped by the monthly pivot point at 0.6927 at the end of the previous session.
The US Dollar depreciated about 54 base points against the Canadian Dollar on Monday. The currency pair tested the lower boundary of a junior ascending channel pattern at 1.3390 during yesterday's trading session.
The Australian Dollar appreciated about 60 base points against the US Dollar on Monday. The currency pair dashed through both the 50-, 100– and 200– hour SMAs during Monday's trading session.
The common European currency is gradually edging higher against the Japanese Yen. The currency pair tested a resistance level formed by the 50-hour simple moving average at 124.79 during yesterday's trading session.
During Friday's trading session, the yellow metal was supported by the 55-hour simple moving average to end the day at 1,310.00. On Monday morning, the rate was retraced by the upper boundary of the medium pattern to allocate the rate at the 1,317.28 mark.
During Friday's trading session, the currency exchange rate ended the day at the 110.00 level, as it was expected! On Monday morning, the rate was located at the 110.17 mark.
During Friday's trading session, the British Pound appreciated against the US Dollar by 196 base points or 1.51%, breaking most of the technical indicators. On Monday morning, the rate was located between the 200-hour and the 100-hour simple moving averages at the 1.3197 mark.
During Friday's trading session, the currency exchange rate depreciated to 1.1260 passing the support levels of the simple moving averages. On Monday morning, the rate was located at the 1.1320 mark.
The New Zealand Dollar was trading in a horizontal line against the US Dollar on Friday. The 50– and 100-hour simple moving averages provided significant support and resistance for the currency pair during Friday's trading session.
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The Australian Dollar depreciated by about 40 base points against the US Dollar on Friday. The currency pair breached the 200-hour simple moving average at 0.7091 during Friday's trading session.