There are almost no changes on the USD/JPY currency exchange rate's hourly chart. Namely, the pair has traded sideways while being supported by the 55-hour SMA and being restricted from surging by the 100-hour SMA.
Due to political fundamental the GBP/USD pair has declined and broken the junior ascending pattern. Namely, the German Chancellor Angela Merkel slammed the Prime Minister of the United Kingdom in a way that the markets saw as destructive for the British currency.
The chart of the EUR/USD has not changes much since Thursday. Namely, the same patterns remain active.
The 55-, 100-hour SMAs continued to provide upward pressure for the NZD/USD currency pair as a result of which the New Zealand Dollar broke out from the upper boundary of a descending pattern.
The US Dollar remained stable against the Canadian Dollar on Wednesday. The exchange rate failed to overcome the 55-hour simple moving average, but it also lacked the necessary downside strength to breached the weekly pivot point near the 1.3128 mark.
The Australian Dollar was trading sideways against the US Dollar during the second half of Wednesday's session stranded between the monthly pivot point and the 55-, 100-, 200– hour SMAs. In addition, the exchange rate was likewise moving along the upper border of a downtrend channel.
Wednesday's trading session was very calm for the EUR/JPY currency pair with the rate trading in a narrow range slightly below the 55– hour simple moving average.
After the sudden surge on Tuesday, a full review of the yellow metal's charts has been conducted on Thursday.
It was already speculated on Wednesday that there should exist a long term ascending pattern dominant to the junior downwards aimed channel on the USD/JPY chart. That pattern was revealed on Thursday.
The Pound has extended its gains against the US Dollar on Thursday. Moreover, the rate has managed to pass the resistance of the PP at 1.3247.
On Thursday there are new notable updates to the situation on the EUR/USD hourly chart.
The NZD/USD exchange rate temporarily stopped its decline. By the middle of Tuesday's trading session, bulls managed to take control of the market.
Bearish momentum continues to direct the US Dollar downward against the Canadian Dollar. By the middle of Wednesday's trading session, the currency pair has lost 92 base points or 0.70%.
Bullish sentiment dominated the AUD/USD currency pair during the pair part of Tuesday's session. The upside momentum was stopped after the pair pierced the monthly PP at 0.7392.
Tuesday's trading session did not introduce significant changes to the currency pair price range, as any attempts to move either direction were limited by the three SMAs and the weekly and the monthly PPs. However, all barrier was breached late Tuesday and also by mid-Wednesday.
The bullion broke the upper trend line of the long term descending channel, which had pierced a dominant support level.
The US Dollar has stopped the surge against the Japanese Yen. Moreover, the long running, rather narrow range ascending channel pattern has been broken.
There are more than couple of new developments on the GBP/USD charts. First of all the pair has pierced the medium term resistance line, as it was expected before.
On Wednesday morning the common European currency pierced the long standing resistance against the US Dollar. However, the following surge was quickly stopped. It was stopped by the resistance of the pivot point at the 1.1682 level.
The New Zealand Dollar continues its smooth journey in a descending channel pattern against the US Dollar. The currency pair breached the monthly support level at 0.6703 during the US trading session on Monday.
The Greenback has maintained its gradual movement south. By mid-Tuesday, it has lost 75 base points against the Canadian Dollar.
Following a short period of decline during the first part of Monday's session, the Eurozone single currency has managed to regain some of its lost positions against the Japanese Yen on Tuesday.
As the headline states, the bullion has booked a new low level. Namely, the commodity price had fallen below the 1,340.00 mark. Moreover, during the move, the bullion passed the support of the dominant long term descending channel.