EURUSD
The bulls failed to close the gap, with which the EURUSD pair was opened yesterday. But the bears could not manage to move below 1.2881. There, the euro made an attempt to recover, which was limited by the 1.2996 level, while pullbacks were facing the demand on the approach to 1.2920. Thus, the pair spent the day in a narrow range. It remains under pressure, and testing of the support at 1.2880 still looks likely. Only the pair growth and ability to consolidate above 1.3125 would indicate the end of the downward trend.
GBPUSD
Against the background of the situation in Cyprus, the British pound has become more attractive in comparison with the euro, allowing the GBPUSD afloat above 1.5074 so far. This time, the pound is to overcome the resistance in the 1.5200-1.5220 proximity and fixe above it. Possible reduction in the GBPUSD will contribute to it, and then the GBPUSD may increase to 1.5300. The loss of the current support would cause the reduction to 1.5000.
USDCHF
The USDCHF was trading in a range yesterday. There, the support is at 0.9415 and the resistance — near 0.9480. None of these levels has not been passed, though the dollar continues to trade on a positive note, which enabled it to recover after the drop to 0.9378. If the bulls manage to overcome 0.9480, the pair will test the strong resistance at 0.9555 once again. The loss of 0.9378 would weaken the bullish momentum and cause the decrease to 0.9308.
USDJPY
Yesterday, the USDJPY opened the gap and dropped to 94.07, but the downward movement was not developed again, thus the pair returned to 95.60. During the Asian session on Tuesday, the growth continued and the dollar increased to 95.75. Here on the 4 hour chart the 20-day converge together with the 50-day one, which gives hope for the sufficiently strong resistance formation so that the Japanese currency could try to develop its downward correction. The pair’s growth above would deprive the bears of hopes for it.
