The NZD/USD pair struggles to capitalize on its intraday move up to over a one-month high, though it retains its positive bias for the fourth straight day on Thursday.

The US Dollar (USD) extends losses against the Canadian Dollar (CAD) for the fourth consecutive day on Thursday, amid broad-based weakness in the USD as investors raise their bets on a resolution of the Middle East conflict.

Consolidation above 98.00 has given way to a test beneath here

The AUD/USD pair posts a fresh multi-year high around 0.7200 during the European trading session on Thursday. The Aussie pair demonstrates strength as the Australian Dollar (AUD) outperforms its peers amid a continuous risk-on market mood.

The break above 1.3550 has given way to anticipated consolidation beneath strong resistance at 1.3600

The GBP/USD exchange rate will be in the spotlight later today, April 16, as the UK releases the latest GDP report.

Market Analysis by covering: Euro US Dollar, US Dollar Index RT. Read ‘s Market Analysis on Investing.com

The EUR/USD pair is in a strong uptrend as the US dollar continues its recent downtrend.

The Dollar Index has scope to test 98 and fall further to 97/96 on a break below 98 while Euro may head towards 1.1850/1.1950 in the coming days. USDJPY can test 158 but thereafter a decisive break on the downside is needed for further decline towards 156.

The British pound has been one of the stronger performers in recent sessions, with GBP/USD extending higher from its cycle low while EUR/GBP and GBP/JPY present diverging technical setups. GBP/USD remains supported by a steady uptrend, EUR/GBP is attempting to carve out a bullish continuation …