The US Dollar introduced no significant changes to its overall price range against the Canadian Dollar on Monday, as the Greenback remained trading with low volatility.
The Australian Dollar was driven by slightly downside momentum on Monday. The currency pair breached a support cluster formed by the 200-hour simple moving average and the weekly pivot point near the 0.7394 regions.
The EUR/JPY currency pair showed no changes to its overall positioning on Monday, thus trading below the weekly pivot point and the lower boundary of a descending channel for the rest of the session.
Despite edging higher late last week, the yellow metal was unable to overcome the 55-period (4H) and 200-hour SMAs near 1,235.00 yesterday.
USD/JPY managed to regain some of the lost positions on Tuesday following the strong two-day plunge from 133.00.
The Sterling remained stable against its American counterpart on Tuesday morning, being stranded between the weekly PP and the 200-hour SMA.
As expected, the European common currency weakened against the US Dollar on Tuesday, pressured lower by the 23.60% Fibonacci retracement and a trend-line near 1.1750.
The New Zealand Dollar accelerated against the US Dollar on Friday thus allowing the currency pair to gained 104 pips or 1.55%. However, the pair still maintained the trading range for last week.
Downside risks dominated the US Dollar against the Canadian Dollar on Friday. As a result, the currency pair lost 174 base points or 1.31% and also, breached both the 55-, 100-, and 200-hour SMAs.
Upside risks dominated the Australian Dollar against the US Dollar. As a result, the currency pair breached the 55-, 100-, and 200-hour SMAs. Friday's session saw the pair gained 118 pips or 1.61%.
The movement of the common European currency has been guided by a one-week descending channel against the Japanese Yen. The currency pair has been pressured by the 55-hour simple moving average.
Gold grew stronger against the US Dollar on Friday, being boosted by fundamental events.
The global weakening of the US Dollar caused a 0.90% plunge for the USD/JPY exchange rate on Friday.
The combined resistance of the 55-hour SMA and the monthly S1 restricted the Pound from moving above 1.3050 early on Friday.
The last two trading days were beneficial for the EUR/USD exchange rate, with it edging 1.36% higher.
The NZD/USD currency pair has temporarily stopped its decline. By the middle of Friday's trading session, bulls managed to take control of the market and drive the rate toward the upper boundary of a descending channel.
Bullish sentiment continues to drive the US Dollar upward against the Canadian Dollar. By the end of Thursday's session, the currency pair has gained 129 base points or 0.98%.
Bearish momentum dominated the AUD/USD currency pair on Thursday, thus, allowing the exchange rate plummeted 121 base points or 1.63% of its value.
Thursday's session did not introduce significant changes to the exchange rate price range, because any attempts made by bulls and bears to push the currency pair to either direction was restricted by the 55-hour simple moving average north and a support cluster formed by the combination of the weekly and the monthly PPs near 130.85.
The 55-hour SMA continues to lead the yellow metal lower for the second consecutive week.
The most important development which disrupted the steady sideways movement of the USD/JPY pair was the 52-pip plunge during the second part of Thursday.
The stronger US Dollar weighted negatively on the GBP/USD exchange rate yesterday morning, as it was pushed even lower down to the weekly S1 at 1.2960—its lowest position since September 2017.
The Euro weakened against the US Dollar on Thursday morning, driven lower by the combined resistance of the 55– and 100-hour SMAs.
The New Zealand Dollar has declined significantly against the US Dollar during the last 48 hours. During the short period, the currency pair has lost 1.65% of its value. By the middle of Thursday trading session, a breakout from the lower boundary of a triangle pattern has occurred as can be observed on the chart.