The Aussie overperformed yesterday, closing trade above a one-year long resistance line, due to a surge in commodity prices.
On Tuesday the European currency edged lower against the Japanese Yen, touching the channel's lower border.
The precious metal's development was subdued in course of Tuesday, with no strong impetus provided by any of American statistical data.
The USD/JPY appears to be ignoring positive US fundamental data, as the pair dropped 32 pips lower yesterday, even touching the up-trend over the day.
The Cable's volatility almost reached the second support area yesterday, with trade closing at 1.5077, slightly above the expected level.
Ignoring fundamentals from both Euro area and US, the most traded FX cross decided to have some rest for one more day on Tuesday.
The New Zealand Dollar edged lower yesterday, breaching the immediate support cluster, but managing to close trade above 0.65.
On Monday, upon getting reached, the second resistance cluster pushed the USD/CAD back down.
As was anticipated, the Australian Currency bounced back from the down-trend yesterday, losing a total of 40 pips over the day.
Although the EUR/JPY failed to appreciate on Monday, the descending channel pattern was not broken.
Yesterday the bullion was pushed below July low at 1,070.
Poor US fundamentals caused the Greenback to erase all intraday gains and ultimately remain unchanged against the Japanese Yen yesterday.
Although no significant level was crossed yesterday, the Cable still suffered a rather serious decline.
EUR/USD attempted to develop beyond 1.06 on Monday, but the Euro's bulls managed to stabilize the situation and sent the currency pair back to 1.0650.
Upon reaching the 20-day SMA at 0.6604 on Friday, the NZD/USD currency pair was pushed back, eventually resulting in a five-pip loss.
The Greenback confirmed the up-trend by rebounding at the end of last week, breaching the tough resistance at 1.3328 and erasing all last week's losses.
The Aussie easily pierced the 100-day SMA and ended up closing at the down-trend on Friday.
The European currency declined against the Japanese Yen on Friday, piercing the weekly S1 and finding support only near the trend-line and the levels bolstering it.
After moderate losses at the end of last week, gold opened substantially lower Monday morning.
Although the USD/JPY edged lower at the end of last week, the loss was only nine pips big.
Last Friday the Sterling suffered a heavier-than-anticipated loss against the US Dollar, slumping over 100 pips, therefore, erasing all weekly gains.
EUR/USD bounced back from 1.0730 on Friday and posted an 80-pip loss during the trading session.
NZD/USD is rapidly recovering after a test of the monthly S1. The pair managed to pierce through a combination of the 55 and 100-day SMAs, which paved the way for a rally towards 0.6650, where we expect the Kiwi to probe the falling resistance line it has established in October.
USD/CAD appears to be in a good position advance. Although there is a tough resistance level at 1.3328, represented by the monthly R1, since mid-October the currency pair has established a reliable up-trend, which should prevent losses beyond 1.3250.