Fed Chair's dovish statement caused the USD/CAD to sustain rather serious losses and slump back under the 1.3100 mark, therefore, preserving the descending channel pattern.
The Aussie soared against its US Counterpart on Tuesday, amid Fed Yellen's dovish statement.
The Euro managed to retain its strength a appreciate against the Japanese Yen for another day.
Along with tumbling US currency, the bullion skyrocketed the most in two weeks yesterday.
On Tuesday the British currency gained 130 pips against the US Dollar, surging due to Fed Yellen's dovish statement.
Fed Yellen's statement yesterday caused the USD/JPY currency pair to fall back under the 113.00 level, therefore, preserving the descending channel pattern.
EUR/USD became pretty much buoyant on Tuesday after dovish remarks by the Fed Chair Janet Yellen.
Poor readings of the US Core PCE Price Index and the Personal Spending caused the New Zealand Dollar to climb higher against the US currency on Monday.
The USD/CAD pair returned within the borders of the descending channel yesterday, with the weekly PP providing sufficient support to limit the losses.
Weak US fundamentals caused the AUD/USD currency pair to edge higher, refusing to maintain trade below 0.75.
The European single currency appreciated against the Japanese Yen, meeting resistance near the 127.00 major level in face of the weekly R1 and the 55-day SMA.
On Monday the bullion was turbulent, as initially the bears led a decline below 1,210.
Even though the USD/JPY currency pair closed trade at the descending channel's resistance line, upside risks are now higher.
With most of the US data disappointing yesterday, the Sterling was able to outperform the US Dollar and not only climb over the 1.42 level, but nearly even reach the 1.43 mark.
Weak US personal spending data helped the EUR/USD cross to add value on Monday, as it closed below 1.12 after testing the 23.6% Fibonacci retracement of the March 2016 uptrend at 1.1220.
The NZD/USD currency pair retreated upon reaching the 20-day SMA on Friday , while positive US GDP data caused the NZ Dollar to edge 20 pips lower.
Even though the US Dollar appreciated against its Canadian counterpart last Friday, the pair might still encounter some obstacles before fully regaining the bullish momentum.
The Aussie ended the previous week lower against the American Dollar, but unable to edge below the 0.75 psychological level.
Friday was a rather uneventful day for the EUR/JPY currency pair, as it edged only seven pips higher that day.
The bullion is continuously set to hover in limbo after the commodity market returned back to trading on Monday morning, meaning the outlook is largely the same as we had indicated on Friday.
The USD/JPY currency pair took another step closer towards the current bearish channel's resistance line, but with the bullish momentum limited, amid the 20-day SMA somewhat providing resistance.
The British Pound remained almost completely unchanged against the US Dollar on Friday, with the monthly PP limiting the losses at 1.4141.
Trading volume on Friday dropped to even lower levels than during the pre-Christmas season, but it failed to raise volatility of the EUR/USD cross.
In spite of experiencing some volatility on Thursday, the Kiwi still remained almost completely unchanged against the Buck.