The upper trend line of the adjusted small scale ascending channel pattern is providing resistance to the commodity price.
On Monday, the US Dollar remained in a relatively constant range, even despite the massive leap mid-session.
GBP/USD was driven by slight momentum downwards on Monday that led the pair towards the 55-hour SMA circa 1.3040.
The forecasted jump of the common European currency against the US Dollar has occurred.
Due to the 55-hour SMA, the NZD/USD failed to slide down in the early Monday morning.
After release of the US fundamental data on Friday, the USD/CAD did not make any new attempts to get back into a descending channel and ended the slightly above the former weekly S3 at 1.2664.
In line with expectations, the AUD/USD ended the preceding trading week near the former R3 at 0.7801.
In accordance with one of the scenarios described on Friday, the EUR/JPY ended the previous trading week in a limbo between the weekly S1 and PP.
Fundamental data released and covered on Friday by the Dukascopy research team on the live webinar platform has forced the yellow metal's price higher.
The Friday's trading session for the USD/JPY currency pair started rather calmly, as it remained in the 113.50/20 range.
The slight appreciation that guided GBP/USD since last Wednesday changed tremendously mid-Friday when the Pound surged against the US Dollar for three consecutive hours, thus closing the session with a 158-pip gain.
On Monday morning the common European currency had lost ground against the US Dollar.
As it was projected yesterday, the AUD/USD bounced off from the weekly R1 at 0.7340 and slipped back to the prior support level set up by the weekly PP at 0.7292, which by that time was already strengthened by the 55-hour SMA.
In line with expectations, the USD/CAD did not succeed to jump back into a medium-term descending channel.
Contrary to technical indicators, the AUD/USD did not bounce off from the weekly R2 at 0.7748 yesterday.
Despite the multiple attempts to resume the surge, the EUR/JPY did not have enough strength to bypass a resistance level established by a combination of the 200-hour SMA and the weekly PP at 129.34.
The metal continues to trade in the borders of the previously established channel up pattern.
During Thursday's trading session, the US Dollar was trading between the weekly PP and S1.
Following a massive leap upwards on Thursday morning, GBP/USD returned to test the weekly PP at 1.2926.
After the fall of the common European currency against the US Dollar on Thursday morning the pair had recovered some of the suffered losses on Friday morning.
Contrary to expectations, a recently formed downtrend did not sustain for long.
An announcement of the new Canadian overnight interest rate strengthened the Loonie by 210.5 basis points against the American Dollar.
An impulse given by a combination of the 20-, 55- and 100-hour SMAs was strong enough to drive the currency pair to the top without respite.
In the end of the yesterday's trading session, the common European currency fell to the combined support level set up by the weekly PP at 129.34 and the 200-hour SMA.