Tuesday's trading session was spent in a calm manner for the USD/JPY exchange rate, as it remained pressured to the downside by the 200-hour SMA.
If looking from an intraday perspective, the Pound remained stable against the US Dollar on Tuesday.
The common European currency was not able to surpass the strong resistance of the 55-hour SMA on Tuesday morning as a result of which bears saw an opportunity to push the rate lower.
The New Zealand Dollar has been depreciating in a descending channel against the US Dollar after the pair touched the upper boundary of a junior channel down on April 19.
The Greenback continue its movement in an ascending channel against the Canadian Dollar. By the end of trading day on Monday, the currency pair has moved past the double-header resistance level at 1.2920.
The Australian Dollar has shown high volatility against the US Dollar today. During this period, the currency pair has reached the lower boundary of a dominant descending channel.
Downside risks dominated the single European currency on Monday, as the currency pair ended the day with a 63 base point lose. Along the rate breakout from the monthly pivot point at 130.10.
Gold's three-day appreciation against the US Dollar was stopped by the 200-hour SMA and the 38.20% Fibonacci retracement on Monday.
Despite attempts to edge higher during the previous two trading sessions, the US Dollar failed to overcome the 200-hour SMA and thus entered a minor period of consolidation.
GBP/USD continues to trade sideways for the fifth consecutive session.
After failing to surpass the resistance of the 55– and 100-hour simple moving averages, the common European currency went for another decline against the US Dollar on Monday.
The New Zealand Dollar has been confined by a descending channel against the US Dollar since mid-April. The upper boundary of the descending channel was reached on April 19 and the exchange rate has since been moving along the aforementioned pattern.
The Greenback continues to move sideways against the Japanese Yen for the fifth consecutive trading session.
The AUD/USD currency pair was driven by downside risks during the first part of Monday's trading session. The move above 0.7537 was restricted by the 200– hour simple moving average.
The first part of Monday's trading session was relatively calm for the EUR/JPY exchange rate, as the pair continues to trade with low volatility for the second consecutive session.
The XAU/USD pair has broken the previously drawn descending pattern. However, during the first part of Monday's trading session, a new junior ascending channel has been revealed.
The US Dollar has been trading in a narrow channel down against the Japanese Yen since May 2. This channel is being considered as a temporary retracement from the upper border of a dominant pattern.
Following unsuccessful attempt to breach the 55– hour simple moving average and the weekly pivot point at 1.35 on Friday, the bearish momentum started to lead the Pound Sterling down. As a result, the GBP/USD exchange rate reaches a five-month low level.
Downside risk continues to prevail in the market as of Friday's session. The bearish movement for the EUR/USD currency pair was temporary stopped after the pair reached the lower boundary of a dominant channel.
The trading session on Thursday did not introduce significant changes to the NZD/USD exchange rate position. Bulls made some gains yesterday. However, after testing the upper boundary of a channel down the pair started falling.
The US Dollar has been moving sideways against the Canadian Dollar since April 25. The currency pair has been stranded between a resistance level at 1.2902 set by the monthly R1 and a support at 1.28200 formed by the monthly PP.
The AUD/USD exchange rate has finally revealed a new ascending junior pattern on Friday. The currency pair bounced off the lower boundary of this pattern on May 2 and is gradually gaining strength.
The Bearish movement which had guided the Euro during this week continues on Thursday, thus allowing the exchange rate to hit the lower boundary of a dominant ascending channel.
The yellow metal has broken the previously drawn junior ascending pattern. However, it extended its gains during Thursday's trading sessions before finally being stopped by the 200-hour simple moving average.