EURUSD
Yesterday, nothing new happened to the overall picture for the euro. The trading session was boring and dull. The EUR/USD continues to be in a consolidation phase. Having rebounded from 1.2983, the pair managed to essentially recover to the resistance near 1.3045, which does not mean any improvement in its prospects. The euro is trading within a descending resistance line so far, and its attempts to increase continue to attract the sellers. Thus, the pair’s reduction to the support of 1.2880 still looks very real. Only the growth and the ability to consolidate above 1.3158/71 would mean a change in the trend.
GBPUSD
The GBP/USD is also consolidating after its decrease, which was suspended by the psychological level 1.5000, as expected. The pair managed to recover to 1.5140, but it is premature to talk about the development of an upward correction, at least while the pair is still trading below 1.5230 — 1.5280. The ability to consolidate above the 53rd figure would indicate the potential of developing a more substantial correction. Until then, the pair would remain under pressure, and it can drop towards the 48th figure.
USDCHF
The USD/CHF increased to 0.9462, then its entered a consolidation phase, whete it dropped to the 94th figure. The dollar is still able to stay above this figure, which shows the saved demand for it, as well as the potential to return to the current highs before their passing. In principle, falling below the 94th figure will not mean the worsening of the outlook, while the pair will be trading above 0.9280 — 0.9260. The next target for the bulls will be the level 0.9500, then — 0.9550.
USDJPY
Last week, the USD/JPY finished its trading period with its increase to 93.68, but at the beginning of the new trading week, the pair bulls did not have enough strength to continue increasing, and the rate dropped to 92.91. The bulls’ inability to break above 93.68 gives the bears a chance to try to develop the downward correction again, but if the pair overcomes this resistance, there will be no correction for a while. However, the bears have to pass the support near 92.20 — 92.00, in order to talk about the corrective movement.
