EURUSD
It was not the best day was for the euro yesterday — being in pair with the dollar the single currency has lost nearly 300 points. Initially, the pair managed to overcome the resistance at 1.3240, to rise above the 33rd figure and test the level of 1.3318. All this could have meant the renewed uptrend for the pair, if it hadn’t undergone tough sales. As a result, the EUR/USD returned to the support around 1.3160 — 1.3125, overcame it and dropped to 1.3038. Having pulled back, bulls tested 1.3089, but this level limited the recovery attempts. Thus, the pair’s pressure remains. Undoubtedly, with the breakdown of the support 1.3160 — 1.3125, where the 100-day moving average runs on the daily chart, the pair’s outlook became very unhelpful. Though, there is the support near the 30th figure on the bears’ way, but the increasing negative attitude towards the single currency is likely to cause this support’s breakdown. In this case, the most likely immediate target for the bears will be the level of 1.2880, where the bulls are likely to activate.
GBPUSD
The British pound received a chance to recover in pair with the dollar due to the drop of the EUR/GBP . Thus, reduction of the GBP/USD was limited by the level of 1.5086, from which the pair managed to increase to 1.5199, and after a slight rebound — up to 1.5219. However, it is premature to talk about the end of the downtrend in the pair, since the pound should at least move up and consolidate above 1.5320, then the bulls will be able to test the 54th figure. Thus, it not necessary to buy until there are signs of the bottom formation at current levels.
USDCHF
The American dollar managed to increase in pair with the Swiss franc due to the drop of the EUR/USD. Nevertheless, its growth was limited by the strengthening of the Swiss currency being in the cross-rates with the single currency. But that did not stop the USD/CHF pair find the support at 0.9231 and increase to 0.9337. Thus, the positive trend in the pair remains. If the American dollar manages to consolidate above the 93rd figure, the bulls will be able to test the 94th figure. Otherwise, the dollar would come under pressure and drop to 0.9230 — 0.9200.
USDJPY
Yesterday was a clearly successful day for the USD/JPY bears. The pair bulls faced the barrier near 94.72, where the pair opened a gap. After that, the rate dropped to the 93.20 support, which was broken soon. As a result, the dollar dropped to a more important support at 92.20 and also broke it. This strengthened the downward momentum and the pair dropped to 90.86. But after that, it was able to recover to 92.74. However, interests to sell the pair remained and its rate dropped to 91.43. The 92.20 level’s breakthrough worsened the prospects for the dollar, but the bears need to consolidate below this level this time, that will confirm its breakdown. Their immediate target may be the 90th figure.
