Even though the AUD/USD currency pair inched higher on Friday, a close below the 0.74 major level is still expected to occur today.
Friday ended with a sixth consecutive rally of Euro versus the Yen, but with the monthly R1 providing sufficient resistance, thus, limiting the gains.
After a low opening and touching the 1,221.50 level on Monday morning the yellow metal regained its losses in the early hours of the day's trading session.
Strong US fundamentals helped the USD/JPY pair to completely recover from its intraday low on Friday and even edge 29 pips higher, retesting the descending channel's resistance line.
On Monday morning the common European currency was in a retreat against the US Dollar, as it touched the support provided by the weekly PP, which is located at the 1.0958 level.
Having outperformed the US Dollar, the British Pound approached the 1.30 major level on Friday, but with supply around this area remaining relatively strong.
During the first half of Friday's trading the New Zealand Dollar surged against the US Dollar, as it had found support during Thursday's trading in the lower Bollinger band at the 0.6840 level.
By the middle of Friday's trading session the US Dollar remained below the 1.38 level against the Canadian Dollar.
AUD/USD continues to trade lower for the third consecutive day, suggesting that no change in direction could be expected in this trading session.
The Euro is depreciating against the Yen today, resulting from the price entering the overbought area.
A confirmation of the previously established bounce off the senior channel down pattern on the daily chart came on Friday morning as the pair continued its way towards areas below further away from any upside risks.
GBP/USD opened red on the daily chart Thursday morning, setting a downside target at 1.2829 in sight.
On Friday morning the yellow metal was in a period of consolidation, which was expected after the losses, which were suffered during the two previous trading sessions.
The common European currency traded even above the previously expected levels against the US Dollar, as the currency exchange rate was at the 50.00% Fibonacci retracement level on Friday morning.
The New Zealand Dollar continued to decline against the Greenback during the first half of Thursday's trading session.
By the middle of Thursday's trading session the Greenback remained almost unchanged against the Canadian Dollar below the 1.3750 level.
The Aussie plummeted tremendously by 113 pips, following the Fed's statement yesterday that boosted the Greenback.
On Wednesday, the European common currency overcome the March high and the weekly R1, continuing to appreciate against the Yen in this trading session, as well.
USD/JPY put an end to the strong climb that had been extended towards the upper boundary of the senior channel that has prevailed since mid-December 2016 with a small red candle on Thursday morning.
GBP/USD opened red on the daily chart Thursday morning, setting a downside target at 1.2829 in sight.
As the FOMC published their statement, the yellow metal's price declined and passed two significant support clusters.
Due to the hawkish announcement by the Fed on Wednesday, the common European currency was trading below the 1.09 mark against the US Dollar on Thursday morning.
During the first half of the Wednesday's trading session the New Zealand Dollar surged against the Greenback, as the currency exchange rate approached the 0.70 mark.
As the USD/CAD currency exchange rate has reached the upper trend line of a long term ascending channel pattern, not only does the daily technical analysis is done, but a complete review.