As was anticipated, the European currency outperformed the Japanese Yen, but failed to receive a sufficient boost in order to reach the strong resistance cluster around 124.00.
A dip below the senior downtrend came as a surprise on Wednesday, as well as a confirmation of the month-long channel relevance.
With Fed increasing the funds rate yesterday, the US Dollar successfully outperformed the Yen, thus, reconfirmed the four-week up-trend.
The GBP/USD currency pair underwent the anticipated decline on Wednesday, but with the broadening rising wedge's support line remaining intact.
EUR/USD dived beneath the bottom Bollinger Band amid a continuation of the senior two-month descending channel, in which the rate is now targeting the bottom trend-line.
For the time being the Kiwi is also on the rise, successfully gaining ground and outperforming the US Dollar.
The USD/CAD's behavior was almost identical to the AUD/USD pair's, as trade closed with the Greenback remaining almost completely unchanged against the Loonie.
Yesterday there was a calm on the forex sea ahead of today's possible storm. The Aussie remained flat against the US counterpart, managing to retain its position on top of the 0.75 psychological level.
The EUR/JPY remained relatively unchanged on Tuesday, once again unable to climb over the 123.00 major level.
Gold continued its way outside of the channel it previously respected and distanced itself from the senior downtrend as well.
The USD/JPY currency pair remained relatively unchanged on Tuesday, managing to retain its position above the 115.00 mark.
Ahead of the FOMC meeting and the Federal Funds Rate decision the Sterling was unable to post gains against the US Dollar, having closed with a 24-pip loss.
As expected, EUR/USD posted a red candle and created a long legged candle amid volatile intra-day movements.
The Kiwi's performance was similar to the Aussie's, as it received a boost from an increase in oil prices yesterday.
The Loonie continued to outperform the US Dollar at the beginning of the week, as it added another 12 pips against it yesterday.
An increase in oil prices strengthened the Australian Dollar yesterday, allowing it to stabilise at a three-week high against the US counterpart.
Monday ended with the European single currency appreciating against the Japanese Yen, thus, preserving the ascending channel pattern.
Following unexpected gains on Monday, Gold jumped out of the month-long pattern once again, proving it to become irrelevant for future movements.
Despite the USD/JPY pair being supported by a strong demand area, bears still managed to push the pair lower on Monday.
EUR/USD surprised with a second consecutive green candle Tuesday morning, after posting a one percent gain on Monday.
The British currency set off with a strong rally against the US Dollar this week, having not only retaken the 1.26 major level, but also having put the 1.27 mark to the test.
Even though the New Zealand Dollar edged lower against the US Dollar last Friday, its performance is quite similar to the Aussie's today.
The USD/CAD currency pair ended the previous week with a small decline, remaining below the 1.32 level.
For another day the Aussie remained relatively unchanged against its US counterpart on Friday, having lost only 11 pips.