The US Dollar outperformed its Canadian counterpart for another day yesterday, climbing over the 1.36 major level.
On Tuesday the AUD/USD currency pair dropped more than 50 pips, with trade closing just in front of the immediate support cluster.
The single currency managed to rebound on Tuesday, gaining a total of 20 pips against the Yen.
Persistent instability of the Greenback's value and positive Chinese inflation numbers are creating demand for gold on Wednesday, following a rise we have already observed on Tuesday.
The USD/JPY suffered a 44-pip loss yesterday, with the immediate support cluster preventing the pair from maintaining trade lower.
Weak UK fundamentals triggered another GBP/USD sell-off yesterday, with the pair dropping towards the immediate support at 1.4960.
The Euro was bid on Tuesday, as market participants attempted to fix profit from a decline that occurred Friday and Monday.
As a commodity currency, the New Zealand Dollar suffered from Monday's oil price slump, thus, edging lower against the US currency.
On Monday the US currency appreciated against its Canadian counterpart, climbing over the Sep high and stabilising in front of the 1.35 major level.
The Aussie suffered from falling oil prices more than anticipated, as the immediate support failed to hold the losses, causing the trade to close at 0.7266 yesterday.
The European currency declined against the Japanese Yen on Monday, with volatility limited by the 55 and 200-day SMAs.
Volatility of gold prices remains quite high for the moment, as we are nearing the crucial meeting of the Fed, which is weighing on the Dollar's value.
Yesterday the USD/JPY currency pair edged closer to the Nov high, but failed to touch the immediate resistance cluster.
The British Pound edged lower against the US Dollar on Monday, with the immediate support in face of the weekly PP limiting the losses.
EUR/USD still continues to absorb a substantial rally of the previous week.
The New Zealand Dollar experienced another rally on Friday, ultimately stabilising at 0.6744.
At the end of the previous week the USD/CAD extended its consolidation and remained relatively flat, on the brink of having the up-trend completely broken.
Last Friday the Australian currency experienced substantial volatility, but the immediate support in face of the monthly R1 was able to leave the exchange rate relatively unchanged.
On Friday, after touching both the 55 and the 100-day SMAs, the EUR/JPY currency pair ended the day with a 17-pip loss.
Disappointment from the ECB was fully priced into gold on Friday.
The Greenback overperformed on Friday, as it breached the immediate resistance in face of the 20-day SMA and returned above the major level of 123.00.
The GBP/USD currency pair weakened on Friday, with intraday volatility reaching the 1.5080 level, but with trade closing at 1.5117.
EUR/USD cooled down on Friday, by falling from Thursday's peak at 1.0980 to reach the 1.0882 mark by the end of last week's trading.
The NZD/USD currency pair slightly overperformed, as it managed to settle higher than the Thursday's opening price, but was still unable to pierce the resistance in face of the weekly R3.