As it turned out, demand at 119 was insufficient to send the price through 120 in an instant.
Because of a lack of momentum GBP/USD failed to push through support at 1.48, and now the currency pair is headed towards the upper edge of the last week's trading range.
On Tuesday, EUR/USD declined significantly for the second consecutive day.
The New Zealand Dollar is currently trading at the level of the 55-day SMA, but it has already managed to dip to the monthly PP today as well.
USD/CAD maintains its upward momentum and so far ignores all identified nearby resistances.
As it turns out, the monthly S1 is not going to provide enough support for the Aussie.
As anticipated, resistance near 130 yen was more than enough to initiate a sell-off.
In line with expectations, XAU/USD failed to limit its downward correction within any range above the long-term downtrend line.
As expected, a dense demand zone around 119.00 prevented extension of the losses and turned the recent downward trend around.
The Cable failed at 1.49 and tumbled to a lower edge of its trading range.
A strong resistance area, created by weekly PP and monthly S2, managed to send the Euro down on Monday.
NZD/USD is moving away from resistance at 0.7650 that stopped development of a double bottom pattern.
Having found formidable support just beneath 1.2480, created by the 55-day SMA and weekly S1, USD/CAD effortlessly pierced through the monthly pivot point.
A test of the upper boundary of the channel resulted in a strong sell-off, which might take a break either at 0.7651 (monthly S1) or already near 0.7550.
EUR/JPY confirmed the falling resistance line last week, therefore the bias is to the downside.
Despite still trading above the long-term downtrend line at the moment, XAU/USD continues to show some bearish intentions on Monday, following a first decline in eight days back on Friday.
A recent test of resistance at 122.00 triggered a powerful bearish reaction, but now there is a good chance the bulls will soon regain control of the pair.
GBP/USD continues to consolidate.
After being stopped by the Dec-Mar long-term downtrend line on Thursday, EUR/USD remained under pressure during last day of the week as well.
The Kiwi declined only 8 pips versus the US Dollar, surprisingly a lot less than anticipated. On Friday, a rebound should take place after the worse-than-expected US Final GDP data.
On Thursday, the Greenback retreated after Wednesday's climb. Although the decline was slightly weaker than anticipated, the Buck still negated previous gains.
On Thursday, AUD/USD edged down, but not as much as expected. The Aussie failed to reach the monthly pivot point, as the currency ended its trading session at 0.7826.
The Euro slumped against the Japanese Yen, but more than anticipated. Instead of finding support at the 20-day SMA, the cross tested the 129.55 support, represented by the weekly PP.
Yesterday, the yellow metal tried to pierce through two major supply zones and register considerable daily gains.