The NZD/USD trade was subdued on Tuesday, as the exchange rate remained caged in a tight range between 0.6747 and 0.6759.
The Greenback experienced the anticipated decline yesterday, but losses failed to exceed 60 pips, as the immediate support slowed down the decline.
The support, formed by the weekly PP and the monthly R3, caused the AUD/USD currency pair to rebound on Tuesday, but the impetus was insufficient to climb too high above the 0.76 psychological level.
The Euro managed to preserve the ascending channel pattern, as the pair recovered from its intraday low, caused by explosions in Brussels, and ended the day with a 16-pip rally, having retaken the 126.00 level.
The bullion's activity is very high this Wednesday morning.
The Greenback extended its gains against the Yen on Tuesday, breaching the immediate resistance in face of the weekly PP.
Upon retaking the 1.44 psychological level on Tuesday, the Pound suddenly made a U-turn and slumped to 1.42, amid the events in Brussels.
Inside the current triangle pattern (boundaries at 1.1310 and 1.0860), EUR/USD is now descending to the South.
The New Zealand Dollar weakened against the Greenback on Monday according to expectations, unable to fully breach the support cluster around 0.6750.
The American Dollar climbed more than 100 pips higher against its Canadian counterpart, amid hawkish comments of Fed officials on Monday.
The Australian currency failed to maintain trade above the 0.76 mark on Monday, but the immediate support in face of the weekly PP and the monthly R3 kept the AUD/USD from edging lower.
The bearish momentum appears to be prevailing today, pushing the EUR/JPY cross lower.
Gold has formally broken the long-term uptrend line near 1,245 yesterday, but it has a chance to show the bulls remain active.
The USD/JPY currency pair extended its recovery yesterday, reaching the 112.00 major level.
On Monday the Sterling experienced the expected corrective decline against the Buck and returned below the 1.44 major level.
Fluctuations of the most traded FX currency pair were quite limited on Monday, mainly owing to emptiness of the economic calendar.
The NZD/USD slightly exceeded expectations, as the expected correction pushed the pair slightly below the 0.68 target last Friday.
At the end of the previous week, the Greenback barely climbed over the 1.30 mark again, but another rally is likely to take place today.
The Aussie retreated towards the 0.76 major level on Friday, undergoing the expected correction.
The European currency declined against the Japanese Yen again last Friday, but the monthly PP and the ascending channel's support line managed to keep the pair from edging lower.
The bullion continues to pare the rally, which took place throughout the previous week amid dovish policy decisions of the Fed.
As was anticipated, the USD/JPY currency pair recovered from its intraday low on Friday, but was unable to post significant gains, due to the Bollinger band providing sufficient resistance.
The British currency remained relatively unchanged against the US Dollar on Friday, but edged slightly lower over the weekend, unable to maintain trade above the 1.45 mark.
The bulls failed at the multi-month downtrend line (1.1320) on Friday and were thereby forced to commence a correction to the 1.1260 area.