EURUSD
Yesterday, the U.S. celebrated President’s Day, thus in the absence of significant news the markets’ activity was very low that caused a corresponding impact on the currency movement. The EURUSD tested the 1.3321 and 1.3379 levels and then, was stuck somewhere in between them. Thus, nothing new happened to the pair’s picture. It remains to note that the pair is fluctuating within the range limited by the resistance near the 34th figure and the support near the 33th one. Hence, If it moves out of the range in either one direction or another, it will mark further dynamics of the euro. In case of the breakdown of the lower limit, it is wise to expect the rate’s drop to the important support of 1.3265, the loss of which would worsen the pair’s outlook. The breakdown of the resistance would provide the pair bulls an opportunity to test 1.3475.
GBPUSD
The GBPUSD pair wasn’t active either. Pressure on it remains, the downtrend is still in force too, despite the fact that bears are not yet able to take the support of 1.5437. If they can’t manage to pass this level, the bulls will try to take the initiative into their own hands. In this case, the pound will try to break above 1.5550 again, which would jeopardize the 56th figure’s testing. If the bears manage to do so, then the rate will drop to 1.5407/00 that will be not a positive fact for the pair.
USDCHF
As for the USDCHF pair, there is also nothing to add. Here bulls managed to increase above 0.9240 and test 0.9257, and the pair dropped to 0.9209. The USDCHF pair was held near the 0.9230 level during the rest of the day. A rise above 0.9257 would cause testing of the 93rd figure. A drop below 0.9200 would worsen prospects of the dollar, but as long as it holds above 0.9100, the pair has chances to resume increase increase.
USDJPY
The USDJPY pair bulls are persistant in their efforts to overcome their highs, but still there is nobody who is willing to buy above 94.20. And the longer there is noone to buy there, the clearer outlines appear of those who are willing to take profits and sell, due to which there will start a downward correction. Its confirmation will be the breakdown of the support around 92.20 — 92.00. Then we can expect the decrease towards the 90th figure. There on the weekly chart, the RSI is still overbought, the Stochastic begins to “look” downwards.
