The precious metal slid for the third consecutive day last Friday and penetrated one of the most important supports, namely the May low at 1,169.
The US Dollar overperformed on Friday, as it appreciated more than anticipated.
Last Friday, the Pound suffered serious losses, as it fell not just through the immediate support, but also the 1.53 psychological level.
Initially, the EUR/USD cross was provided with some bearish momentum by the long-term downtrend at 1.1315.
The Euro misbehaved on Thursday, as it suffered a 55-pip loss against the Japanese Yen.
The powerful resistance cluster around 0.7780 weighed on the AUD/USD yesterday, forcing it to fall down.
The USD/CAD currency pair's behavior on Thursday almost fell in line with expectations.
Even though the New Zealand Dollar suffered losses yesterday, the fall was not as sharp as anticipated.
Bullion bears decided to push the price below 1,180 on Thursday; therefore, the precious metal hit its lowest level in more than 30 calendar days at 1,173.
Although USD/JPY managed to climb up, gains were insignificant.
Yesterday the Sterling managed to rise against the US Dollar, but did not overstay its welcome above the 1.54 level.
EUR/USD rallied as high as monthly R1 on Thursday, thus surpassing the 1.1360 mark.
The NZD/USD slid on Wednesday, but the 2011 low provided support and prevented the Kiwi from suffering too much losses.
On Wednesday, the USD/CAD slightly underperformed, as it appreciated less than anticipated.
Despite all expectations, the AUD/USD currency pair edged up for the second day.
The Euro extended its gains against the Japanese Yen for the third day in a row this week.
The bullion registered a noticeable decline in price yesterday, while falling slightly below the 1,185 mark.
The 124 psychological level provided enough support to cause the US Dollar to rebound yesterday.
After a substantial gain on Tuesday, the Cable was pressured down on Wednesday.
For the first time since May 18 the EUR/USD cross is nearing the long-term downtrend line.
The Australian Dollar managed to rebound on Tuesday and exceed expectations, as the weekly PP failed to stop the AUD/USD from rising.
On Tuesday, the USD/CAD currency pair suffered substantial losses, amid weaker-than-expected US fundamentals.
The Kiwi stretched out to 0.72 during the trading session, but still closed trade at 0.7162, namely the weekly PP.
The resistance cluster failed top stop the rally at 137.60, as the European currency skyrocketed against the Yen yesterday.