The AUD/USD currency pair has been pressured by bears since April 19 which resulted in the rate falling to a four-month low at 0.7556. The decline was temporary stopped by the weekly S2 at 0.7556.
The single European currency has been trading sideways against the Japanese Yen since April 24. The currency pair has been unable to make a new wave to either direction since the pair hit the weekly R3 at 133.53.
The first part of Wednesday's trading session was spent under the bearish pressure, as the yellow metal lost 0.88% against the US Dollar.
The US Dollar managed to resume its strong upside momentum on Thursday and shot up 63 pips during the day.
The Sterling was driven by downside potential during the first part of Wednesday.
EUR/USD failed to pick up momentum on Wednesday and remained below the 55-hour SMA.
The New Zealand Dollar has been trading in a descending channel against the Greenback since mid-April. The exchange rate tested the upper boundary of a large-scale triangle on April 13 and began a new wave down.
The US Dollar has been trading constrained by an ascending channel against the Canadian Dollar. The currency pair bounced off the lower boundary of a junior ascending pattern on April 17 and has since maintained its channel.
The Australian Dollar has been trading in a junior descending pattern against the US Dollar. The upper boundary of this channel was reached during the middle of Wednesday trading session.
The common European currency has been steered mainly by bulls against the Japanese Yen since the pair bounced off the lower boundary of a junior ascending channel April 20.
The yellow metal has been strengthening steadily against the Greenback following a reversal from the 1,322.00 mark late on Monday.
USD/JPY managed to remain steady during the previous session, thus showing that the strong upside momentum that prevailed earlier this week has allayed.
Following a four-day decline against the US Dollar, the Sterling managed to recover some of its lost positions on Tuesday.
The common European currency failed to move below the 1.22 mark due to the strong support of the 100-day SMA.
The support level, which was reached on the NZD/USD charts on Monday, was passed at midnight between Monday's and Tuesday's trading session on a GMT time frame.
The US Dollar has finally stopped its massive appreciation against the Canadian Dollar. Due to that reason a full review of the technical situation was conducted at mid-day on Tuesday.
It can be observed on the hourly chart of the AUD/USD pair that the narrow ranged descending pattern has been broken.
On Monday it was expected that the common European currency will begin a decline against the Japanese Yen once the pair reaches the resistance cluster near the 132.50 mark.
The overall strength of the US Dollar put downward pressure on XAU/USD on Monday, thus allowing to extend the pair's losses for the third consecutive session.
The US Dollar accelerated significantly against the Japanese Yen on Monday, thus closing the session with a 93-pip gain.
Despite flashing bullish signals on Monday morning, the Sterling managed to maintain its downward-sloping movement throughout the day.
The Euro remained under the bearish pressure on Monday.
By the middle of Monday's trading session the NZD/USD currency exchange rate had reached the vital support levels near the 0.7150 mark. Coincidentally at that level a dominant support line was located together with the freshly calculated first weekly support level.
The US Dollar has continued to gain even more ground against the Canadian Dollar. The reason for the surge is double sided.