Even though the USD/CAD failed to inch higher on Thursday, the descending channel pattern remains intact, as no serious movement to the downside occurred.
The Australian Dollar extended its rally against the Buck for the fourth day in a row yesterday, reaching the second target, namely the weekly R3 at 0.7356.
As was anticipated, with the improved risk sentiment, the Euro managed to edge higher against the Yen, climbing over the weekly PP at 124.20.
Yellow metal brought substantial returns on March 3 when the price surged to almost the 1,270 mark from 1,240 in one day.
A set of poor fundamentals caused the American Dollar to retreat from its intraday high and close trade relatively unchanged against the Yen, adding only 20 pips on Thursday.
In the run up to Friday's US payrolls data, the EUR/USD cross skyrocketed the most since February 9 and retested the January-February uptrend line.
Yesterday strong demand at the monthly PP caused the Kiwi to trim losses against the Buck and edge closer to the 20-month resistance line.
The USD/CAD currency pair has been trading within the borders of a descending channel for almost six weeks now, downward pressure of which caused the breach of already one up-trend.
On Wednesday the Aussie skyrocketed on positive Australian GDP data, even breaching the eight-month down-trend.
Upon reaching the immediate resistance, namely the weekly PP, the EUR/JPY currency pair turned around and closed trade in the red zone.
Despite stronger American currency, the bullion posted some upward momentum on March 2, even though it had been registering losses earlier in the day.
Strong US fundamental data failed to provide sufficient impetus to breach the 114.00 psychological level, which resulted in the USD/JPY's 50-pip loss yesterday.
The GBP/USD currency pair surprised with its performance on Wednesday, amid no further clues concerning the Brexit.
The bears were trying to send EUR/USD under the first weekly demand line (1.0853) on Wednesday; however, all attempts failed ultimately and the pair came back above 1.0850 by day-end.
On Tuesday the NZD/USD currency pair surged more than 30 pips, amid a rebound in dairy prices.
The Loonie surprised with its performance yesterday, boosted by the Canadian GDP results more than expected.
The Australian Dollar succeeded in outperforming its US counterpart and managed to pierce the immediate resistance cluster on Tuesday.
The EUR/JPY currency pair overperformed on Tuesday, as it managed to reach the 124.00 level and close trade nearby.
Growing risk appetite across global stock markets pushed investment out of the safe haven metal, which bounced off daily highs at 1,248 yesterday.
The return of risk appetite and better-than-anticipated US manufacturing data caused the Greenback to erase all Monday's losses against the Yen yesterday.
On Tuesday they Sterling managed to put the immediate resistance, namely the weekly PP, to the test, but trade still closed nearly 60 pips away from that level.
EUR/USD has ultimately confirmed its bearish intentions, as it managed to hold below the Jan-Feb uptrend for two days in a row.
The New Zealand Dollar oscillated between the 0.6565 and the 0.6620 levels on Monday, but closed trade at the same level where price opened.
The Greenback was supported by the lower Bollinger band yesterday, which helped the USD/CAD to remain relatively unchanged and above the 1.35 level.