Sterling's performance exceeded expectations yesterday, as the GBP/USD currency pair edged closer to the weekly R2 level.
Despite immediate resistance at 1.1368, represented by the weekly PP, there is still some room left for the Euro to appreciate in the short term.
The New Zealand Dollar plunged against the US Dollar, confirming the mentioned support level, as it stopped the pair from falling further.
The US Dollar got beaten down after the Fed's Chief stated that interest rates would not be raised in 2015.
Surprisingly, the AUD/USD currency pair did bounce back even before reaching the Bollinger band at 0.7716.
EUR/JPY cross managed to breach the weekly PP, but failed to end the trading day above it.
The downward momentum gold has been developing since mid-January is having trouble pushing the price beyond 1,200.
The Buck rebounded, although the market reaction was not as strong as anticipated. USD/JPY bounced back through the weekly PP and settled at 118.71.
The Cable attempted to slide down on Tuesday. During the trading day the pair reached a low of 1.5403, stopping ahead of the weekly PP, where GBP was expected to find support.
While there is still some upside potential for EUR/USD, the currency pair is likely to be capped by the falling trend-line and 20-day SMA at 1.14.
The NZD/USD barely changed on Monday, as the market reaction was similar to Friday's, but negative.
The Buck grew for a fourth consecutive day yesterday.
The Aussie plunged on Monday as anticipated.
The EUR/JPY currency pair started yesterday's trading day with a rather sharp decline.
It seems that XAU/USD cross is getting ready to test a considerable support line at 1,198 (monthly S1) for a third time in last five days.
On Monday, USD/JPY slumped by piercing the weekly PP.
The Sterling started the trading week right from the weekly PP at 1.5395.
Despite being initially supported by the weekly PP at 1.1368, the EUR/USD pair pierced through this important support and plunged considerably on Monday.
The AUD/USD cross regained momentum after a small two-day decline from 0.7794 on Friday.
Euro rebounded on Friday, after the pair stumbled for two days, but the gains were equal to the previous day's slump.
The NZD/USD pair stayed mainly unchanged for the end of the week, as the pair slightly edged up from Thursday's slump.
The USD/CAD currency pair extended its gains for the third consecutive day on Friday.
At the end of last week, the bullion made a second unsuccessful attempt to cross the 1,200 round level.
USD/JPY currency pair added in value for the second day last Friday, following a rebound from the 55-day SMA.