The Greenback experienced a sharp decline at the end of the previous week amid the devastating US Non-Farm Employment Change data.
Last Friday, the British Pound finally managed to break out of its chains, which were holding the currency between the weekly S1 and 20-day SMA.
Just before the weekend, EUR/USD rose considerably for a second day, following weaker than expected US employment data.
Though the base case scenario was only a shallow rally from 0.7450, the price is already noticeably above the 100-day SMA and intends to climb even higher.
USD/CAD pierced through the 55-day SMA, and the currency pair seems to be willing to go even lower.
The bearish forecast for AUD/USD did not prove to be correct, as surprising fundamentals interfered with the sell-off from the down-trend resistance line.
While yesterday there were still some reasons to believe that the resistance trend-line (also weekly and monthly pivots) at 130 is going to hold, today there are very few doubts the falling wedge has not been broken to the upside.
At market closing time on Thursday at 21:00 GMT, just before the Easter holidays started, the yellow metal posted no considerable movements in either direction.
So far the recently established up-trend copes well with the bearish pressure and keeps guiding the pair north.
Thin liquidity because of holidays and NFP report expectations keep volatility greatly decreased.
On Thursday, the Euro continued gaining ground for a second day.
The pair is currently recovering, as the market sees broad-based weakness of the Buck.
The US fundamentals, despite being good, failed to boost demand for the Greenback. USD/CAD declined beneath the monthly PP, and now it is expected to find support at the 55-day SMA.
Though AUD/USD has already reached 0.76, which stopped Aussie's depreciation last month, the bulls remain inactive.
Although EUR/JPY is only supported by the weekly S1, so far today the pair has been strongly bullish, and right now it is erasing Tuesday's losses.
The sharpest increase in Gold's price since January 30 took place on Wednesday.
USD/JPY continues to negate its Monday's gains, and is likely to put pressure on support at 119 once again.
There was barely any change in the Pound-Dollar exchange rate yesterday, though the whole trading range amounted to more than 130 pips.
EUR/USD remained stable in course of the trading session on Wednesday.
NZD/USD stays on a bearish path, as the 55-day SMA has been largely ignored, though there is still the monthly pivot point left.
Despite a run all the way up to 1.28 yesterday, USD/CAD was unable to gain a foothold above 1.27, and the pair is now looking for support at 1.2640, represented by the monthly PP and 20-day SMA.
AUD/USD is now in the vicinity of a dense demand area at 0.76, which may well initiate a rally back to the down-trend at 0.78.
For the time being the weekly S1 at 128.70 serves as a floor, but the risks are considered to be skewed to the downside, being that EUR/JPY is currently trading next to the major down-trend.
On Wednesday morning, XAU/USD is receiving reliable support from April's new monthly PP, which is located at 1,183.