The common European currency has continued to trade in the same pattern against the Australian Dollar for some time. Although, there are some minor developments that are explained in this analysis.
During a long period of time the large scale triangle pattern on the EUR/CHF was the main point of attention. However,
The US Dollar has depreciated substantially against the Singapore Dollar during the previous ten weeks.
The Australian Dollar has been trading in a long-term channel up against the Yen.
The previous time the USD/CHF currency pair was reviewed, the main attention was given to the fact that the pair had broken various patterns.
As the US Dollar continued to lose ground against the Russian Ruble a major development occurred. The currency exchange rate passed a very significant support level near the 57.60 level.
The US Dollar has been appreciating against the Norwegian Krone in a channel up since late August.
CHF/SGD has been dominated by two channels.
The common European currency has broken through a dominant resistance line against the British Pound.
The highly demanded GBP/JPY currency pair has continued to surge. However, it has not occurred in the previously drawn long term channel.
The dominant pattern that has guided the USD/MXN exchange rate for the last six months is an ascending triangle.
The Australian Dollar has been trading in an ascending channel against the Loonie since mid-November.
We previously described the bounce off of a dominant resistance line on the EUR/NZD pair. Then a speculative short term channel down pattern was drawn, which was expected to be broken just as the previous medium term channel up pattern. Both of these events occurred in the past weeks.
The recent fall of the US Dollar has caused the USD/CHF currency exchange rate to break two patterns.
During the last two months, the Australian Dollar has depreciated substantially against the New Zealand Dollar in a channel down pattern.
The New Zealand Dollar has been trading in an ascending channel against the Canadian Dollar since mid-November.
The previously drawn channel down pattern of the Euro against the Australian Dollar has persisted. The currency exchange rate has reached the targeted area of support levels near the 1.53 mark.
The Pound has recently ended trading in the junior channel down pattern on the four hourly chart pattern against the New Zealand Dollar.
CAD/CHF has been moving in a channel down since early September.
The US Dollar has been confined in a channel down against the South African Rand during the past two months.
The ascending channel pattern described in the last review of the Euro against the Pound chart has done its job. The currency exchange rate has reached the upper trend line of a dominant pattern.
The US Dollar has revealed that there exists a larger scale pattern against the Polish Zloty. The patterns resistance has forced the pair into a decline, which has taken the form of a descending channel.
USD/CNH has been guided by a descending channel since mid-October.
The Australian Dollar has appreciated against the Singapore Dollar during the past three weeks.