EUR/USD undergoes a downside correction within a bullish channel.
On Thursday the Greenback experienced a corrective rally against the Loonie, with volatility limited by the weekly S2 from the downside and the weekly S1 from the upside.
The Australian Dollar edged lower against its US counterpart on Thursday, driven by a mild decline in oil prices.
The Kiwi/Dollar currency pair experienced mild volatility on Thursday, eventually ending the day higher, just on top of the nearest resistance cluster.
The Yen's safe haven status pushed the given cross towards the immediate support cluster, among which, the channel's lower border was tested.
The bullion saw a renewal of the confident uptrend on Thursday.
Same as yesterday, the appeal for safe havens, such as the Japanese Yen, is relatively high.
Although the Cable edged closer to the resistance cluster around 1.44, it stabilised at lower at 1.4340.
Downside risks for the Euro are on the table, considering that EUR/USD has tumbled for a fifth day in a row on Thursday.
The Canadian Dollar overperformed on Wednesday, as the immediate support was breached, causing the USD/CAD to drop below 1.37.
A sudden rebound in oil prices caused the Aussie to regain the bullish momentum and even reach a fresh nine-day high yesterday.
The NZD/USD almost completely erased Tuesday's losses yesterday, but the immediate resistance proved to be impenetrable.
On Wednesday the European single currency edged below the 127.00 major level against the Japanese Yen, as supply at 127.43 proved to be too strong.
The daily chart has been showing mixed signals for several days in a row.
The US currency remained unchanged against the Japanese Yen on Wednesday, as demand at 113.88 proved to be sufficient to keep the pair elevated.
The Cable was able to almost completely recover from its intraday loss, as the FOMC minutes were interpreted as dovish.
In general the pair is hovering on the downside, while closely monitoring the nearest support zone at 1.1115/00 represented by the monthly R2, weekly S1 and 20-day SMA.
Due to a decline in commodity prices, the unlikely scenario played out on Tuesday, as the USD/CAD currency pair recovered from its intraday losses and put the weekly PP to the test.
Despite reaching a new one-week high yesterday, the Australian currency ended the day in the red zone against the Buck, as falling commodity prices weighed on the pair.
The New Zealand Dollar found support at the cluster around 0.6550, thus, preserving the up-trend.
The Euro weakened against the Yen on Tuesday, as the demand for safe-haven assets increased.
Tuesday was a mixed day for the bullion, as neither the bulls nor bears were managing to take a full control over the price.
The USD/JPY currency pair's sell-off was limited by the immediate support cluster yesterday, however, it is uncertain whether the cluster will succeed in doing so again today.
Yesterday disappointment in UK's inflation outlook pushed the GBP/USD significantly lower, with the four-week up-trend failing to hold the losses.