During the early hours of Friday's trading session the yellow metal was located near the lower trend line of the medium term ascending channel pattern near the 1,274 level.
The USD/JPY currency pair confirmed the ascending channel pattern with its recovery from the 109.40 area, with the exchange rate now continuing to test the upper boundary.
The UK Parliamentary Election results had a devastating effect on the Pound, causing it to trim all previous month's gains against the Buck.
The European Central Bank did not change its policy on Thursday. However, the release of the suspense was enough to cause the reveal of the future direction of the EUR/USD currency exchange rate.
The New Zealand Dollar continues on its path higher against the US Dollar on Thursday.
The favoured scenario of the crossroads of the USD/CAD currency exchange rate came true only three hours after the analysis was made on Wednesday.
After reaching a six-week high at 0.7567 on Wednesday's trading session, AUD/USD has traded sideways and fluctuated around the 20-hour SMA at 0.7547.
The European common currency managed to bounce off the lower boundary of a channel down on Wednesday, appreciating gradually against the Yen ever since.
The decline of the yellow metal's price has extended itself, as the bullion continue to search for a strong enough support level to continue the surge.
Although on Thursday morning the common European currency traded against the US Dollar near the previous two trading session levels, which is above the 1.1250 mark, there is an additional detail to the rate.
As was anticipated, the US Dollar outperformed the Japanese Yen on Wednesday, with the exchange rate nearing the 110.00 mark.
The British Pound continued to outperform the US Dollar on Wednesday, but with gains limited by the newly-formed ascending channel's resistance line.
The New Zealand Dollar continues its gains against the US Dollar, as the currency exchange rate continues on its path in the ascending channel pattern, which formed only recently.
By the middle of Wednesday's trading session the US Dollar had reached a vital point against the Canadian Dollar.
Better-than-expected Australian q/q GDP early in the morning resulted in the Aussie surging 38 pips up to the 0.7539 mark.
The second half of Tuesday's trading session may be characterised by a consolidation phase, as EUR/JPY fluctuated around the 20-hour SMA and the weekly S1 at 123.39.
On Wednesday morning the yellow metal was in a decline down to the 1,290 mark.
The USD/JPY pair behaved in accordance with expectations yesterday, being that the monthly S1 at 109.22 was the level that managed to prevent the pair from edging lower.
The Cable experienced minor volatility on Tuesday, with the exchange rate mostly gravitating towards the monthly pivot point.
During the early hours of Wednesday's trading session the common European currency remained below the 1.13 mark against the US Dollar.
The only yesterday described pattern on the NZD/USD currency pair has already been broken.
As it can be seen on the chart, the US Dollar failed to score additional gains on Monday against the Canadian Dollar.
Contrary to expectations, AUD/USD did not halt near the 0.7480 level but continued to appreciate, forming a minor resistance area at the 0.7496 mark.
After reaching the 20-hour SMA at 124.42 in the first hours of today's trading session, EUR/JPY was guided by strong downside risks, resulting in the pair dashing through four support levels, namely, the 38.2% and 23.6% Fibo, the monthly PP at 123.90 and the weekly S1 at 123.39.