NZD/USD is moving away from resistance at 0.7650 that stopped development of a double bottom pattern.
Having found formidable support just beneath 1.2480, created by the 55-day SMA and weekly S1, USD/CAD effortlessly pierced through the monthly pivot point.
A test of the upper boundary of the channel resulted in a strong sell-off, which might take a break either at 0.7651 (monthly S1) or already near 0.7550.
EUR/JPY confirmed the falling resistance line last week, therefore the bias is to the downside.
Despite still trading above the long-term downtrend line at the moment, XAU/USD continues to show some bearish intentions on Monday, following a first decline in eight days back on Friday.
A recent test of resistance at 122.00 triggered a powerful bearish reaction, but now there is a good chance the bulls will soon regain control of the pair.
GBP/USD continues to consolidate.
After being stopped by the Dec-Mar long-term downtrend line on Thursday, EUR/USD remained under pressure during last day of the week as well.
The Kiwi declined only 8 pips versus the US Dollar, surprisingly a lot less than anticipated. On Friday, a rebound should take place after the worse-than-expected US Final GDP data.
On Thursday, the Greenback retreated after Wednesday's climb. Although the decline was slightly weaker than anticipated, the Buck still negated previous gains.
On Thursday, AUD/USD edged down, but not as much as expected. The Aussie failed to reach the monthly pivot point, as the currency ended its trading session at 0.7826.
The Euro slumped against the Japanese Yen, but more than anticipated. Instead of finding support at the 20-day SMA, the cross tested the 129.55 support, represented by the weekly PP.
Yesterday, the yellow metal tried to pierce through two major supply zones and register considerable daily gains.
On Thursday the US Dollar dipped despite the better-than-expected Jobless Claims data.
Yesterday, the Cable retreated in spite of all the fundamental factors.
As expected, the EUR/USD failed to push itself through a major resistance area around 1.1050, comprised of monthly S1, weekly R1 and long-term downtrend line.
The Buck outperformed the Kiwi despite weak fundamental data. Even though the pair tried to go up, the ultimate movement was to the downside.
The US Dollar added 26 pips against its Canadian counterpart and managed to test the monthly pivot point, before settling at 1.2518.
Yesterday, the Australian Dollar plunged for the second day, instead of posting an expected rally.
On Wednesday, EUR/JPY negated Tuesday's losses, as it edged up. However, the Euro did not appreciate substantially and was unable to reach the initial resistance.
For the first time since March 4, XAU/USD cross returned above the major 1,200 level as a result of seven straight daily increases.
Even though USD/JPY fell, the decline was not significant, and the pair's attempts to reach the support cluster at 119.00 turned out unsuccessful.
On Wednesday, the British Pound advanced, but not as far as expected.
EUR/USD decided to go further and trade upwards during yesterday's trading session.