On Monday the support cluster around 1.3305 failed to provide sufficient support, causing the USD/CAD not only to edge below the descending channel's lower border, but also to close under the 200-day SMA.
The Aussie set off with a 65-pip rally, mainly due to an increase in iron ore prices yesterday.
The EUR/JPY currency pair was unable to breach the immediate support, namely the weekly PP, and, as a result, barely returned under the 125.00 level.
Monday has been a broadly calm day for global markets and the safe-haven metal booked somewhat muted volatility readings.
Once again the Greenback made a U-turn after having edged closer towards the 114.00 level, resulting in a 50-pip slump over the day.
The British Pound surprised with its performance for another day, as demand at the monthly PP was sufficient to cause the Cable to recover from its intraday low and edge 45 pips higher.
EUR/USD advanced for a third trading day in a row on Monday and neared the monthly pivot point at 1.1021, which is succeeded by the 200-day SMA at 1.1045.
At the end of the previous week the New Zealand currency exceeded expectations and soared above 0.68 dollars, despite a strong reading of US NFP.
Although the US Dollar pierced its descending channel's support line on Friday, trade still opened within the pattern's borders today.
Positive US fundamentals were insufficient to strengthen the American Dollar against its Australian counterpart last Friday.
The European single currency appreciated against the Japanese Yen last Friday, reaching its two-week high.
US Dollar strengthened after encouraging employment data from America.
The US Dollar failed to post significant gains against the Japanese Yen last Friday, as the USD/JPY pair inched only five pips higher.
Despite weak UK data, the GBP/USD currency pair managed to recover from its daily low and end the week with five consecutive rallies.
EUR/USD booked another bullish trading session last Friday, with gains extending beyond the 55-day SMA at 1.0972.
Upon reaching the resistance area around 0.6745, the New Zealand Dollar retreated from intraday highs and stabilised at 0.6721.
Even though the USD/CAD failed to inch higher on Thursday, the descending channel pattern remains intact, as no serious movement to the downside occurred.
The Australian Dollar extended its rally against the Buck for the fourth day in a row yesterday, reaching the second target, namely the weekly R3 at 0.7356.
As was anticipated, with the improved risk sentiment, the Euro managed to edge higher against the Yen, climbing over the weekly PP at 124.20.
Yellow metal brought substantial returns on March 3 when the price surged to almost the 1,270 mark from 1,240 in one day.
A set of poor fundamentals caused the American Dollar to retreat from its intraday high and close trade relatively unchanged against the Yen, adding only 20 pips on Thursday.
In the run up to Friday's US payrolls data, the EUR/USD cross skyrocketed the most since February 9 and retested the January-February uptrend line.
Yesterday strong demand at the monthly PP caused the Kiwi to trim losses against the Buck and edge closer to the 20-month resistance line.
The USD/CAD currency pair has been trading within the borders of a descending channel for almost six weeks now, downward pressure of which caused the breach of already one up-trend.