In line with expectations, the cable continued to gradually moving to the bottom after making a rebound from the upper edge of a currently active ascending channel that was additionally secured by resistance line at the 1.3338 mark.
After making a rapid advance two days ago the currency exchange rate entered into consolidation phase, fluctuating between the 1.1837 support and the 1.1860 resistance levels.
The New Zealand Dollar was testing a medium-term channel down during the first half of Wednesday.
The USD/CAD currency pair was stranded between the 100– and 200-hour SMAs during the first half of Wednesday, as traders were reluctant to push in any direction.
The Australian Dollar continues to appreciate against the US Dollar for the second consecutive session.
As apparent on the chart, the Euro was trading along the 55-hour SMA on Tuesday.
The yellow metal continued to rally against the buck after making a rebound from the bottom trend-line of a medium-term ascending channel.
In line with expectations, a release of data on the US Durable Goods Orders as well as the Fed Meeting Minutes only bolstered the breakthrough through the monthly S1 at 112.05.
Although initially the Pound was hit by first lines of the budget announcement, the subsequent revelation of details changed the sentiment lifted the rate to the weekly R1 at 1.3300, as expected.
A release of the disappointing US Core Durable Goods data created an upside momentum that enabled the pair to break through combined resistance formed by the 100-hour SMA, the weekly PP and the 38.2% Fibonacci retracement level.
As apparent on the chart, the New Zealand Dollar was guided entirely by the 100-hour SMA and the weekly PP during the last session.
USD/CAD was driven by strong bearish momentum mid-Tuesday.
The Aussie was trading in line with the previous analysis, as it remained between the weekly PP and the 55-hour SMA during the last trading session.
Similarly to yesterday, the common European currency was trading along the 55-hour SMA in this session, as well.
As it was expected, lack of an upside momentum did not allow the pair to surge above the 1,282.00 level.
As there were no fundamental events that could positively affect value of the buck, the currency exchange rate continued moving to the bottom under the pressure from the 100-hour SMA.
As markets did not pay much attention to the UK Inflation Report Hearings, the cable continued to slowly surge along the rising 55-hour SMA within the junior ascending channel.
In line with expectations, the pressure exercised by 100-day SMA shoved the currency rate out of the channel.
The Kiwi's direction during the past trading session was largely influenced by the 55-hour SMA that pushed the rate down to the 0.6790 mark.
USD/CAD was driven by upside momentum during the last session.
As expected, AUD/USD was guided by the 55-hour SMA during the past session.
The market has introduced no major changes to the pair's positioning within the last 24 hours.
Growing fears about inevitability of snap parliamentary elections in Germany led to appreciation of the Dollar against basket of currencies, including the yellow metal. In result of this downfall, the exchange rate reached and made a rebound from the bottom edge of a senior ascending channel.
In line with expectations, the currency exchange rate has successfully reached the 112.62 mark. But as this level was protected by the weekly PP, the pair was forced to retreat.