The US dollar was able to advance against most of its forex counterparts when risk aversion extended its stay in the currency market.
USDJPY has been trading inside a descending triangle pattern on its 4-hour time frame, with price hovering around the resistance.
The US dollar regained ground against its forex rivals when the FOMC sounded a little more upbeat than usual.
EURNZD’s selloff might soon be over, as price formed an inverse head and shoulders pattern on its 4-hour forex chart.
The US dollar gave up ground to its major counterparts in recent trading, as traders booked profits off their trades ahead of the FOMC statement today.
AUDUSD has previously made a strong break below support at the .8100 major psychological level and dipped below .7900 at the start of this trading week.
The US dollar regained a bit of ground against the yen but gave up some of its wins to the euro and the pound.
USDJPY didn’t complete its recent double top pattern and instead bounced off support around the 117.25 level.
After the strong forex moves last week, profit-taking was seen on Friday as the US dollar gave back some of its recent gains.
USDJPY’s short-term climb might soon be reversed, as price formed a double top pattern on its 1-hour time frame.