Last Friday the Aussie edged lower against the Buck for the third consecutive day, but managed to remain above the 0.77 major level.
News that the BoJ might soon implement negative loan rates significantly weakened the Japanese Yen on Friday, causing the EUR/JPY cross to reach the third resistance level—the 55-day SMA at 125.40.
A sharp drop of gold prices on Friday followed its inability to consolidate above the 1,263 resistance one day before.
The USD/JPY currency pair overperformed on Friday, as the Japanese Yen lost more than 200 pips against the Buck on the negative loan rate rumours.
Although the Sterling was unable to maintain trade near the target area of 1.4450 on Friday, trade still closed with the GBP/USD currency pair retaking the 1.44 major level, also erasing all intraweek losses.
Last Friday the EUR/USD pair traded down and closed at the 1.1220 mark, posting a more than 60-pip daily slump.
Even since the NZD/USD currency pair bounced back from the resistance trend-line this week, the bearish momentum overtook the market.
Driven by falling oil prices the USD/CAD currency pair inched higher on Thursday, also climbing over the immediate resistance, represented by the weekly and monthly S1s.
The European single currency retreated from its intraday high on Thursday, with the pair ultimately closing with a 52-pip loss.
The Australian Dollar suffered a rather serious loss against the American Dollar yesterday, amid a decline in commodity prices.
Yesterday the bullion set a new formal April high above 1,270 that is placed also above the February high of 1,263.43.
Yesterday the Japanese Yen managed to outperform the US Dollar for the first time this week, as falling oil prices sparked buying of major Yen crosses.
The GBP/USD currency pair managed to reach the resistance area around 1.4450, but then erased its intraday gains, with trade closing with a six-pip loss yesterday.
Although in the beginning of Mario Draghi's conference the pair was moving as high as 1.14, by the end of the session the bears managed to take control over the market and sent EUR/USD even into the red territory.
On Wednesday the resistance area around 0.7050 proved to be too strong to pierce, which led to the New Zealand Dollar's decline against the US Dollar that day.
The Loonie somewhat outperformed the Greenback on Wednesday, but gains were rather limited.
The Aussie edged lower against its US counterpart yesterday, after the US Existing Home Sales data surprised with a stronger figure.
The Euro rebounded from its intraday low yesterday ahead of today's ECB meeting, ultimately remaining relatively unchanged against the Yen, as trade closed with an only five-pip rally.
Yesterday the yellow metal was growing as high as 1,258 or above the first weekly resistance line.
Fears of the BoJ intervention keep driving the Japanese currency lower this week, with another USD/JPY rally taking place on Wednesday.
The Cable dropped slightly under the weekly R1 on Wednesday, confirming the bearish scenario.
Bullish intentions of the Euro failed near the 1.1390 mark on Wednesday.
Tuesday's rally caused the New Zealand Dollar to break through the upper border of the broadening rising wedge pattern, rather than a rebound and an eventual breakout through the lower boundary.
Due to being a commodity-based currency, the Canadian Dollar strengthened after versus the Greenback yesterday, as prices for oil surged that day.