The Euro depreciated faster than expected, effortlessly piercing through a supposedly tough support at 1.13. EUR/USD is now trading as low as 1.12, a level that can potentially hold the rate for a while, but is likely to be broken eventually.
As expected, the US Dollar slumped against its New Zealand counterpart.
Indeed, the Greenback slid in value against its Canadian counterpart, confirming support at 1.2405, represented by the weekly S1.
For a second day now the Aussie exceeded expectations. Not only did the Australian Dollar reach the anticipated targets, but also went beyond the initial resistance levels.
The EUR/JPY pair edged up yesterday and settled at 135.04, the weekly PP, which prevented the cross from advancing.
XAU/USD is currently extending Wednesday's rally from 1,200, but it may encounter fierce resistance between 1,215.80 and 1,211.90, where the weekly PP merges with the 100-day SMA.
On Wednesday the USD/JPY cross attempted to decline, but was unable to breach the 20-day SMA.
Sterling's performance exceeded expectations yesterday, as the GBP/USD currency pair edged closer to the weekly R2 level.
Despite immediate resistance at 1.1368, represented by the weekly PP, there is still some room left for the Euro to appreciate in the short term.
The New Zealand Dollar plunged against the US Dollar, confirming the mentioned support level, as it stopped the pair from falling further.
The US Dollar got beaten down after the Fed's Chief stated that interest rates would not be raised in 2015.
Surprisingly, the AUD/USD currency pair did bounce back even before reaching the Bollinger band at 0.7716.
EUR/JPY cross managed to breach the weekly PP, but failed to end the trading day above it.
The downward momentum gold has been developing since mid-January is having trouble pushing the price beyond 1,200.
The Buck rebounded, although the market reaction was not as strong as anticipated. USD/JPY bounced back through the weekly PP and settled at 118.71.
The Cable attempted to slide down on Tuesday. During the trading day the pair reached a low of 1.5403, stopping ahead of the weekly PP, where GBP was expected to find support.
While there is still some upside potential for EUR/USD, the currency pair is likely to be capped by the falling trend-line and 20-day SMA at 1.14.
The NZD/USD barely changed on Monday, as the market reaction was similar to Friday's, but negative.
The Buck grew for a fourth consecutive day yesterday.
The Aussie plunged on Monday as anticipated.
The EUR/JPY currency pair started yesterday's trading day with a rather sharp decline.
It seems that XAU/USD cross is getting ready to test a considerable support line at 1,198 (monthly S1) for a third time in last five days.
On Monday, USD/JPY slumped by piercing the weekly PP.
The Sterling started the trading week right from the weekly PP at 1.5395.