The USD/CAD seems to be struggling to show any confident move.
The AUD/USD continues its retreat from the year 2010 low at 0.807.
The Euro tumbled versus the Yen to the South for almost 147 pips on Tuesday.
Gold undertook a correction period during the first day of New Year's week.
Despite all the recent attempts of USD/JPY to conquer 121, the weekly and monthly R1 levels stay intact.
GBP/USD failed to cover all the distance to the six-month down-trend at 1.5650 as initially expected.
EUR/USD pair continued trading in the bearish environment on Monday, as it declined below the weekly S1 and set a new minimum of the year 2014 at 1.2123.
The NZD/USD rushed this Monday to meet the 4 hour 200-SMA and rebounded from its level at 0.78.
The pair fails to surprise the market with any serious moves and continues to be stable for a second consecutive week.
The retreat from the 2010 year low seems to be the current interest.
The EUR/JPY pair started the new week by fluctuating around 146.73 and 146.97 range, showing a bullish candle at the end of the trading day.
XAU/USD cross jumped considerably on Friday, as it was able to pierce through a major resistance line, represented by the 2013 low, 23.6% Fibonacci retracement and weekly pivot point around $1,190.
Although the US Dollar came under a strong selling pressure after hitting the resistance at 121, the currency has not yet fallen beneath 120.
Having established a solid support at 1.55 last week, the Cable is currently moving towards 1.5650.
On December 26, the EUR/USD currency pair developed in a very calm environment during the whole trading session.
NZD/USD is currently testing the down-trend at 0.7760/50, which is supposed to guide the pair beneath 0.77 and towards the 2014 low at 0.76.
For the time being USD/CAD is inactive, but once the volatility comes back, the US Dollar will likely decline.
Although at first the bulls seemed to be giving up their positions near 0.81 without a proper fight, there start to appear signs the Aussie may actually recover in the next few weeks before violating the 2010 low.
Although according to a majority of the weekly and monthly technical indicators the Euro is going to outperform the Yen, the 20-day SMA still remains intact.
Since the supply at 121 (weekly and monthly R1 levels) withstood USD/JPY's recent attack, the currency pair is vulnerable to a sell-off down to 118.
In the end the monthly S1 managed to push the Cable away from 1.55.
EUR/USD cross was little changed because of holidays on Wednesday, when the trading volume was rather low.
The New Zealand Dollar is currently following a well-defined down-trend that connects all of the highs posted since Nov 16.
Despite the persistence and energy the bulls have recently demonstrated by bringing USD/CAD from 1.135 to 1.167 in seven days, there is likely to be a retracement in the next few weeks.