Strong expectations for successful QE from the side of the ECB had a major bearish impact on EUR/USD pair last Friday.
Yesterday the Kiwi bounced back after a two-day rally. The currency went through the weekly PP and the 20-day SMA, before ending the trading day at 0.7476.
On Thursday, the USD/CAD currency pair tested the weekly S1 resistance at 1.2518. The Greenback edged up over the day, but remained in the range between the 20-day SMA and weekly S1, settling at 1.2484.
As anticipated, AUD/USD plunged on Thursday, but was unable to erase Tuesday's gains.
As it turned out, a correction in the EUR/JPY did not take place, and the pair slid for the third consecutive day yesterday.
For a fourth consecutive day, a daily change in price of Gold does not exceed two important technical levels which are keeping the bullion in a narrow trading range.
USD/JPY rebounded yesterday, overshooting expectations and erasing the two-day losses.
On Thursday, the GBP/USD pair did not surprise with its behaviour, as it slumped again for the fourth consecutive day.
As estimated, downward pressure on the EUR/USD currency pair remained strong yesterday, caused by the ECB monetary policy meeting in Cyprus.
The New Zealand Dollar extended its gains for another day. However, the pair lacked the strength to reach the previously established resistance levels represented by the Bollinger band and the weekly R1.
On Wednesday, the USD/CAD pair slumped, as anticipated. The Greenback tested the two closest resistances, but was unable to breach them, as the US Dollar is following the sliding trendline.
On Wednesday, the Aussie tested the upper Bollinger band, but eventually settled just under the weekly PP at 0.7815. Compared to Wednesday, the AUD/USD pair barely climbed.
EUR/JPY pair declined for a second consecutive day after encountering resistance at 134.30.
XAU/USD cross showed no significant changes in course of the previous trading day as it remained hovering just around the major level of 1,200.
On Wednesday the USD/JPY pair continued to trade between the weekly PP an R1 levels.
As the UK Services PMI was worse than expected, and later through the day the US data showed strong figures, the Pound came under strong selling pressure, and the currency depreciated dramatically.
After a considerable drop yesterday, EUR/USD continues declining on Thursday morning as well.
The Kiwi rebounded on Tuesday, but failed to erase Monday's loss. As the weekly PP has proven itself as a weak level, the NZD/USD pair easily pierced through it and settled at 0.7547.
Yesterday the USD/CAD pair plunged, as a supply area created by the trendline and weekly PP proved to be strong enough to turn the pair around.
The Aussie made up for poor performace on Monday, as the currency climbed even higher than expected. The AUD/USD pair went through the monthly PP and 20-day SMA, before it settled just under the weekly PP at 0.7819.
The pair erased Monday's gains and edged slightly lower. The EUR/JPY cross stumbled down to 133.80 after encountering a cluster of resistances around 134.32, thus the support level at 133.20 was left untouched.
Despite strong Gold price's fluctuations on Tuesday, the metal registered only a marginal daily change.
USD/JPY pair bounced back on Tuesday after a three-day rally.
Sterling keeps surprising with its behaviour, as the currency edged down again on Tuesday.