On Thursday morning the yellow metal still traded near the 1,225 mark.
The US Dollar appreciated strongly against the Yen on Wednesday morning, reaching intraday high circa 113.60.
After bouncing off the lower channel boundary, the Pound appreciated gradually against the US Dollar on Wednesday.
The common European currency is trading against the US Dollar as expected. The pair surged on Wednesday and hit the resistance put up by the 55-hour SMA just above the 1.1350 mark.
Even though the NZD/USD expectedly breaks out of the junior descending channel yesterday, it did not manage to stay within the dominant ascending channel as well.
Beginning of the new trading session reveals that the 100-hour SMA, indeed, served as a resistance level, which broke an ascending channel.
In line with expectations, the currency pair bounced off from the weekly S1 at 0.7600 and tried to clear the path upwards.
A result of the previous trading day suggests that the upward momentum given by the Mario Draghi speech last week is moving to an end, as the currency pair could not set the new record high and stopped at the same level, where it finished on Monday.
The yellow metal finally encountered the resistance of the 55-hour SMA just below the 1,230 mark. This resistance level managed to force the bullion into a short term retreat.
USD/JPY was trading in the 112.85/113.30 area on Tuesday's trading session.
On Tuesday, the Sterling was restrained by a combination of the 55– and 100-hour SMAs that limited its gains until the 1.2950 mark.
After a more thorough analysis, a short term descending channel was discovered on the hourly chart for the EUR/USD currency pair.
Contrary to prognoses, a release of the US ISM Manufacturing PMI did not push the currency rate out from an ascending channel.
The market reaction to a release of the US ISM Manufacturing PMI was not as high as expected and amounted only to 16.5 basis points.
A an announcement of the RBA's interest rate early this morning caused a 51-pip depreciation of the Aussie, which pushed the currency pair out of the channel and threw it though the 200-hour SMA at 0.7616.
In line with expectations, the EUR/JPY made a breakout from an ascending triangle upwards and began Tuesday trading session above the 128.65 mark.
As it was expected, the bullion's price continued to plummet during Monday's trading ssession.
USD/JPY was driven by strong upside momentum that resulted in the rate breaking the down-trend on Monday.
The Pound responded negatively to weak UK Manufacturing PMI mid-Monday, thus pushing the rate through the bottom channel boundary.
On Tuesday morning, the common European currency had retreated below the 1.1350 mark against the US Dollar.
Despite an extensive fall of the Kiwi during the first half of today's trading session, the pair did not manage to reach a combined support level formed by the 200-hour SMA at 0.7286 in conjunction with the bottom trend-line and the weekly S1 at 0.7277.
Beginning of the new month the USD/CAD met in a limbo between the 55-hour SMA from the top and the southern trend-line of a descending channel from the bottom.
The five-hour depreciation of the Aussie against the US Dollar in the early Monday resulted in the breakout from a recently formed descending channel.
The EUR/JPY managed to remain above the 2016 high level at 128.18 despite the breakout from an ascending channel.