It was no surprise when the massive surge on Thursday and Friday was followed by a correction period, thus erasing nearly half of gains accumulated during these two days.
The Euro failed to edge higher on the second half of Friday, thus fluctuating in the 129.90/60 area for the remaining trading hours.
The way the exchange rate started new trading week confirmed that previously it was moving in a medium-term rising wedge.
As it was expected, the new trading week the Greenback started in a recovery against the Yen.
Due to positive numbers that were revealed during a release on the UK Manufacturing Production, the Pound caught an upside momentum that helped it to reach the monthly R1 at 1.1320.
On Friday, the currency exchange rate acted in accordance with one of the scenarios, which suggested that as soon as markets will calm down the buck is going to try restoring some lost positions.
All major currencies strengthened against the US Dollar on Friday morning and the Kiwi was no exception.
ownside risks dominated the USD/CAD currency pair on Thursday, as apparent by the strong bearish momentum which halted solely at the 1.2065 mark.
Contrary to expectations, the Aussie accelerated against the US Dollar on Thursday, thus breaching a medium-term channel and confirming the formation of a steeper junior channel up.
The Euro fluctuated significantly during the previous 24 hours, breaching all resistance and support levels along the way with no hindrance.
As it was expected, most of the previous trading day the yellow metal spent in an advance against the buck.
Even though a release of information on the Japanese GDP was worse than analysts anticipated, the last day of the week the currency pair started in a sharp downfall.
An upside momentum provided by the junior ascending channel in conjunction with release of information on the Halifax HPI as well as Mario Draghi speech helped the Pound to break through the upper trend-line of a senior descending channel.
In result of announcement of the EU Minimum Bid Rate as well as the subsequent Mario Draghi press conference, the Euro expectedly broke to the top and appreciated against the Greenback by 1%.
The bearish market sentiment took the upper hand on Wednesday and pushed the New Zealand Dollar through the 200– and 55-hour SMAs.
The Bank of Canada's decision at 1400GMT yesterday to increase the overnight rate from 0.75% to 1.00% disrupted all technical predictions about the pair's movement late on Wednesday and today.
Despite reaching the upper boundary of a senior channel on Tuesday, the rate returned to re-test the weekly R1 at 0.8022 for the second time.
The overall sentiment on Wednesday was strongly bullish for the common European currency.
Instead of trying to reach the monthly R1 at 1,348.36, using the 55-hour SMA as a springboard, the exchange rate stuck at the weekly R1 at 1,339.42 and stayed there until a release of data on the US ISM Non-Manufacturing PMI.
In accordance with expectations, most of the previous trading day the currency rate spent in an upward movement, using the weekly and monthly S1, as trampolines.
Contrary to expectations, the Pound did move horizontally for long but instead tried to break through the weekly R1 at 1.3077.
As it was expected, a pressure from a combination of the 55-, 100- and 200-hour SMAs neutralized any further attempts of the currency pair to slip to the bottom.
The New Zealand Dollar appreciated substantially against the Greenback on Tuesday, halting solely at the weekly R1 at 0.7262.
USD/CAD was trading along the 55-hour SMA during Tuesday's session without any attempts to move above the given line.