On Thursday morning the yellow metal traded above the monthly pivot point, which is located at the 1,253 mark.
The USD/JPY pair's attempts to recover were limited by the descending channel's resistance line.
As was anticipated, the Sterling done its best to erase most of Tuesday's losses yesterday, but was still unable to fully reclaim the 1.27 level, which resulted in a close 30 pips lower.
Although the recent surge of the EUR/USD currency exchange pair was mainly caused by the depreciation of the US Dollar, the push was strong enough to pass the resistance of a channel down pattern.
This trading session was marked by the Kiwi's breakout to the downside.
Following a slight pullback from the weekly PP at 1.3283 mid-Tuesday, USD/CAD re-tested this level once more this morning.
A combined support level formed by the 20– and 100-hour SMAs, the weekly PP and the bottom channel boundary failed to stop the Aussie's downfall against the US Dollar.
EUR/JPY breached the upper channel boundary early Tuesday.
The Tuesday morning forecast fulfilled itself only on Wednesday morning, as the US Dollar attempted to score additional gains during the second half of Tuesday's trading.
The resistance encountered at 111.80, namely the monthly PP, was too tough for the USD/JPY pair to bare, resulting in the breach of the recently-acquired up-trend.
Severe bearish momentum on Tuesday caused the GBP/USD currency pair to pierce the ascending channel's support line, with the support around 1.2624 limiting the losses.
As it was expected the common European currency continued its decline against the US Dollar in the previous 24 hours.
Monday's trading session was marked by a fall of the Kiwi against the US Dollar.
USD/CAD had made three attempts to return back into the medium-term ascending channel until mid-Thursday.
Monday's depreciation of the Aussie was stopped when the currency rate bounced off from a combined support set up by the bottom trend-line of the ascending channel and the weekly PP at 0.7594.
After bouncing off from a support level formed by the monthly PP at 123.89, EUR/JPY broke successfully through the upper boundary of an ascending channel near the 124.39 mark.
On the hourly charts, which are drawn by the Dukascopy analysts, it can be observed that the weekly S1 at 1,243.59 has done its job in providing support to the yellow metal's price.
As was anticipated, the US Dollar was able to outperform the Japanese Yen on Monday. Further gains could be limited by the 111.80 level, namely the monthly PP, which could result in the recently acquired up-trend to be broken.
Monday did not favour the Pound, as the Cable once again fell under the monthly S1. However, support was found near 1.2725, namely the ascending channel's support line.
On Tuesday morning various additional pieces of information were spotted on the hourly chart for the EUR/USD currency pair.
The New Zealand Dollar started the week by making a jump against the US Dollar.
The Greenback remained below the 1.3250 mark against the Canadian Dollar.
The upside momentum that guided AUD/USD on Friday morning stalled mid-session, resulting in weak volatility.
After testing the upper channel boundary mid-Friday, EUR/JPY returned near the 20-hour SMA and followed the given line up to the 124.40 mark.