After reaching a two-year low, the US Dollar has been trading sideways for the third consecutive session, thus failing to surpass the 55-hour SMA for most of the time.
AUD/USD was stranded in a narrow range between the 55– and 100-hour SMAs on Monday.
The common European currency continued its surge against the Yen on Monday, being driven mainly by mitigated political risks over the globe.
In line with expectations, the US Dollar surged against the Yen on Monday, resulting in a 117-pip appreciation within one day.
The GBP/USD currency pair was characterised by a lack of volatility on Monday.
The bearish scenario came true on Monday for the yellow metal. The bullion's price fell below the 1,330 mark in the second half of the day's trading session.
The common European currency continued its decline against the US Dollar, as it was expected on Monday.
The massive surge up to the 0.7340 mark that was apparent on Friday was followed by a similar-scale decline.
The US Dollar managed to accelerate against its Canadian counterpart on Friday and consequently confirm a descending channel.
It was no surprise when the massive surge on Thursday and Friday was followed by a correction period, thus erasing nearly half of gains accumulated during these two days.
The Euro failed to edge higher on the second half of Friday, thus fluctuating in the 129.90/60 area for the remaining trading hours.
The way the exchange rate started new trading week confirmed that previously it was moving in a medium-term rising wedge.
As it was expected, the new trading week the Greenback started in a recovery against the Yen.
Due to positive numbers that were revealed during a release on the UK Manufacturing Production, the Pound caught an upside momentum that helped it to reach the monthly R1 at 1.1320.
On Friday, the currency exchange rate acted in accordance with one of the scenarios, which suggested that as soon as markets will calm down the buck is going to try restoring some lost positions.
All major currencies strengthened against the US Dollar on Friday morning and the Kiwi was no exception.
ownside risks dominated the USD/CAD currency pair on Thursday, as apparent by the strong bearish momentum which halted solely at the 1.2065 mark.
Contrary to expectations, the Aussie accelerated against the US Dollar on Thursday, thus breaching a medium-term channel and confirming the formation of a steeper junior channel up.
The Euro fluctuated significantly during the previous 24 hours, breaching all resistance and support levels along the way with no hindrance.
As it was expected, most of the previous trading day the yellow metal spent in an advance against the buck.
Even though a release of information on the Japanese GDP was worse than analysts anticipated, the last day of the week the currency pair started in a sharp downfall.
An upside momentum provided by the junior ascending channel in conjunction with release of information on the Halifax HPI as well as Mario Draghi speech helped the Pound to break through the upper trend-line of a senior descending channel.
In result of announcement of the EU Minimum Bid Rate as well as the subsequent Mario Draghi press conference, the Euro expectedly broke to the top and appreciated against the Greenback by 1%.
The bearish market sentiment took the upper hand on Wednesday and pushed the New Zealand Dollar through the 200– and 55-hour SMAs.