EURUSD
After dropping to 1.3357, the EURUSD entered a stage of consolidation. The increasing attempts are limited by the resistance at 1.3427. The pair is still unable to consolidate above the 34th figure, that may indicate the potential to decrease to more important support levels 1.3300 — 1.3265. Theoretically, these levels should form the bottom, from which the euro would resume its growth. Therefore, if the pair tests these levels, it will explore the possibility of buying from them. Thus it is wise not to rule out the possibility that the current support still provides the support for the hike. The growth and ability to consolidate above 1.3427 would mean the upward momentum recovery.
The GBPUSD was subjected to sales again and as a result, it dropped from 1.5810 to 1.5641. Thus, the pair returned to its lows and is trying to form the bottom here again. It is obvious, the prospects for the British pound deteriorated after dropping below all the moving averages on the 4-hour chart. The overall reduction of the GBPUSD pair was primarily due to the EURGBP increase, whose possible drop can support the GBPUSD pair a little bit. However, on the daily, weekly and monthly charts, the pair’s picture is not encouraging and suggests a further decrease of the British currency. A rise above 1.5900 would weaken the bearish pressure.
No specific changes happened to the USDCHF pair yesterday. The pair found the support at 0.9156 which is trying to develop an upward trend, but the increase attempts are limited by the level of 0.9213. It is wise to note that the U.S. dollar still manages to hold above 0.9150 that indicates the potential for its growth. The loss of this level would worsen the pair’s outlook and it would decrease to 0.9060. The EURCHF continues to drive up and down that further complicates predictions of the USDCHF pair’s movements.
The Japanese currency is still the “best seller”, even the British pound cannot be compared with the yen. It is being sold again and due to this fact, he USDJPY bounced from the support at 92.53 and increased to 93.50, and after a little hesitation — up to 94.46. A rollback back to 93.87 only attracted the buyers, and the dollar hiked again. Thus, the correction was limited again, that didn’t give the opportunity to test important levels for the pair and buy at a good price for us. The next stop, in theory, will be around the 95th figure. It is likely that speculators will sell, and maybe they will wait for the super serious level of 100.00.
