The New Zealand Dollar versus the US Dollar remained in a junior descending channel pattern on Monday. The currency pair tested the bottom border of a dominant ascending channel during the first half of today's trading session.
The US Dollar has been moving with low volatility against the Canadian Dollar since Monday's trading session. The currency pair made a 67 pips movement during the last 24 hours.
The Australian Dollar remained in a junior descending channel pattern against the US Dollar on Monday. The exchange rate depreciated about 0.42% during Monday's trading session.
The single European currency depreciated about 91 base points against the Japanese Yen on Monday. The decline was stopped by a support level formed by the 100-hour simple moving average at 126.50 during yesterday's trading session.
Gold continued to decline on Monday. It had reached below the 1,290.00 level. In general, the decline was expected to continue, as the metal faced no technical support as low as the 1,276.65 level.
The USD/JPY has reached the 112.00 level, as it was forecast on Friday. The 112.00 level is providing resistance to the currency exchange rate and has forced it into retracing back downwards three times.
A junior descending channel has guided the New Zealand Dollar lower against the US Doller. The currency pair depreciated about 42 base points during Friday's trading session.
Upside risks prevailed in the market on Friday, thus sending the US Dollar to appreciate by about 177 base points against the Canadian Dollar. The currency pair breached some significant resistance levels during Friday's trading session.
The GBP/USD started the week by opening higher. Although, by the middle of the day's trading the rate had not moved, as it traded sideways just below the 1.3250 level.
A junior descending channel has been guiding the Australian Dollar against the US Dollar since February 27. The currency pair tested the lower boundary of a dominant ascending channel pattern at 0.7077 during Friday's trading session.
The Eurozone single currency appreciated about 88 base points against the Japanese Yen on Friday. The exchange rate was guided by the 50-hour simple moving average during the previous trading session.
On Monday, the EUR/USD began the day's trading above the support of the various hourly simple moving averages. Although, it began to immediately decline.
The New Zealand Dollar edged lower against the US Dollar on Thursday. The currency pair breached a support cluster formed by the combination of the monthly and weekly pivot points at 0.6834.
During the last 24hrs, the US Dollar has depreciated about 72 base points against the Canadian Dollar. The currency pair breached both the 50– and 100-hour simple moving averages at the end of yesterday's trading session.
Downside risks prevailed in the market on Thursday, thus sending the Australian Dollar to decline by 74 base points against the US Dollar. The currency pair breached the lower boundary of a medium-term ascending channel at 0.7098 during yesterday's session.
Upside risks dominated the common European currency against the against the Japanese Yen on Thursday. The exchange rate rose by about 100 base points during Thursday's trading session.
The fundamental strength of the US Dollar has caused a drop of gold prices below the long term support line. By the middle of Friday's trading session on the hourly chart the metal had no support as low as 1,295.13.
The USD/JPY has made another large fundamental move. The rate has suddenly surged, breaking all the previously used pattern trend lines.
GBP/USD continued to retreat on Friday morning. The rate passed the support of the 55-hour SMA and retreated down to the weekly R2 at 1.3238.
The EUR/USD has passed the lower trend line of the ascending pattern. Although it occurred after reaching the 1.1400 mark for a third time, as expected. Moreover, the pair reached above it to the 1.1420 level.
The New Zealand Dollar depreciated about 66 base points against the US Dollar on Wednesday. The decline was stopped by a support level formed by the weekly pivot point at 0.6816.