Following four attempts at the 1.1150 demand zone, EUR/USD proved levels beneath unattainable, continuing Wednesday's bounce towards the bottom trend-line of the broken three-week and three-month channels, 1.1253 and 1.1270 respectively.
On a larger scale the Kiwi is doing good and appreciated against the Greenback in accordance with the previous Dukascopy forecasts.
The US Dollar traded almost at the weekly pivot point at 1.3165 against the Canadian Dollar, as the currency exchange rate encountered the resistance put up by the 200-day SMA at 1.3256 on Tuesday and rebounded.
On Tuesday the Aussie continued to making baby steps towards the three-year down-trend.
As was anticipated, the Euro weakened against the Japanese Yen for another day yesterday, putting the immediate support cluster to the test.
GBP/JPY failed to follow through with a breach of the neckline of the double bottom formation observed within a medium-term time frame, which we covered in our previous analysis of the pair. Nevertheless, the pair did not lose the bullish momentum it had built up over the last developments, which it clearly showed with a golden cross formation. The latest
The yellow metal continued to try and break the resistance put up by the weekly pivot point at 1,316.02 on Wednesday morning.
The American Dollar closed at the lowest level in three weeks yesterday, but was still unable to reach the immediate support.
Even poor US Building Permits yesterday could not provide the GBP/USD with sufficient strength to keep the pair from falling back under 1.30.
The Euro is trading below a combined cluster of the 55 and 200-day simple moving averages against the US Dollar, as the currency exchange rate fell below the 1.1150 mark.
The New Zealand Dollar confirmed fully the rising wedge and channel up patterns, in which the Kiwi trades against the US Dollar.
The US Dollar appreciated against the Loonie by mid-Tuesday, as the Greenback regained the losses it had against the Canadian Dollar on Monday.
On Monday the Antipodean currency gained value against the US Dollar, reaching the target of 0.7575.
The EUR/JPY currency pair experienced minor volatility on Monday, but closed trade with only a seven-pip loss.
AUD/JPY formed solid resistance over the last seven years, calming markets to some extent just after the 50% plunge the pair took during the crisis period. The rate tapped the support at 74.39 several times over 2016, suggesting that a close below the level might not be unattainable. The movements have been neatly contained into a descending channel pattern for
The yellow metal is threading higher on Tuesday morning, as by 5:00 GMT it had scored more gains than during the whole Monday's trading session.
The US Dollar behaved according to expectations on Monday, having fallen back under the 102.00 major level.
Monday ended with the Sterling managing to remain above the 1.30 level against the US Dollar, however, more bullish momentum is likely to be very limited.
The common European currency traded almost flat on Tuesday morning against the US Dollar.
The New Zealand Dollar continued to struggle in making a rebound against the rising wedge pattern's lower trend line against the US Dollar on Monday.
With the start of a new week the US Dollar depreciated by mid-Monday against the Canadian Dollar, as the currency exchange rate had touched the level of 1.3135, which is below the weekly PP at 1.3165.
The Aussie did not suffer too much on Friday, in spite of the US Dollar receiving a boost from strong CPI figures.
Friday ended with the European single currency sustaining a relatively sharp loss against the Japanese Yen, with demand, represented by the two-month up-trend providing managing to prevent the Euro from edging lower.
Despite a better-than-expected US CPI, the US Dollar failed to post solid gains on Friday.