The monthly pivot point not only limited yesterday's upside volatility, but also caused the AUD/USD to slump 63 pips.
The Euro tested the resistance cluster around 136.00 yesterday, but ended the day below the opening price.
Bears attempted to gain control over the market, but they managed to push the price of gold only below the first important support, namely the 50% Fibonacci retracement of Aug-Sep downtrend at 1,134.
The US Dollar took advantage of the bank holiday in Japan and broke out of the triangle to the upside, rather than the downside.
The GBP/USD currency pair was pushed back down upon reaching the 38.20% Fibo yesterday.
EUR/USD was rejected by the weekly pivot point on Monday and was forced to capitulate below the 1.12 mark.
It appears that the Kiwi's climb has come to an end, as the tide turned over the weekend.
On Friday, the USD/CAD dropped to the lowest point in five weeks, not only quickly recovering, but even gaining 47 pips.
The Aussie's attempts to appreciate above 0.7280 were in vain for the second time last Friday, in spite of absence of any other significant levels to bolster that area.
Even though the EUR/JPY cross closed under the weekly PP on Friday, a decline towards the 200-day SMA seems out of reach.
Gold surged on Friday, thus prolonging a winning streak to three days in a row.
The USD/JPY currency pair remained relatively unchanged over the weekend, whereas attempts of breaking out of the triangle were made.
As was anticipated, the Cable's decline was limited by the support cluster around 1.5516, despite initial signs of a further rally.
EUR/USD failed to extend gains on Friday and failed at the May high of 1.1466.
The Kiwi disregarded the ‘sell' signals sent by the technical indicators and refused to go lower.
Yesterday, despite high activity of the bears USD/CAD took notice of the cluster around 1.3150, which unites the monthly PP, 55-day SMA and weekly S1, and it is thus unlikely to give in easily.
The Aussie-Dollar pulled back to the falling trend-line and acknowledged it as a new support. The situation therefore warrants a bullish outlook.
Despite the fact that EUR/JPY has broken through important resistance at 136.74/64 (monthly PP and 100-day SMA) the bias remains negative.
As expected, gold prices advanced after the Fed decision to maintain the current stance of monetary policy.
USD/JPY has fallen from the upper trend-line of the triangle the currency pair has been forming since the last days of August.
Yesterday the Cable broke through the 61.8% Fibonacci retracement of the drop observed during the last week of August.
After the Fed decided to keep interest rates on hold, EUR/USD skyrocketed up to the 1.14 level where it consolidated by the end of yesterday.
So far this week the Kiwi has been trading flat with a slight bullish bias. The monthly PP at 0.6375 is expected to act as a ceiling and limit potential gains
Just like AUD/USD the Dollar-Loonie pair also refused to respect the borders implied by the channel, in this case of an upward one.