EURUSD
Positive attitude towards the EURUSD that prevailed in the Asian session on Monday was changed into the negative one in the European session, as much as to say that the Europeans know better what is going on with the single currency. But it is decreasing, and there is no end in sight. Attempting to continue the increase that started at the end of the previous week has ended at 1.3047, from which the pair renewed it decrease. As a result the support at 1.2880 was passed; the euro touched the 1.2830 level and returned to the resistance of 1.2880. Theoretically, it should restrain the recovery attempts, where the pair should continue decreasing from. In case the strong support at
1.2825 is lost, the euro will drop towards the 27th figure. In order to improve its prospects, the pair is to move higher and consolidate above 1.3050.
GBPUSD
The GBPUSD also decreased yesterday, but this was not due the weakening of the British currency. Nevertheless, the pair dropped to the 52nd figure, overcame it and reached the level of 1.5142. Overall, yesterday’s decrease does not mean the end of its upward correction, thus it is early for the pair bears to be happy about it. The decrease to 1.5140-1.5060 will not be a tragedy for the pound, but the loss of the last level is quite able to cast a gloom on its prospects. The continued growth towards the 1.5300-1.5320 proximity still looks quite possible.
USDCHF
Yesterday, there was not a pleasant experience for the bears in the USDCHF pair. Reduction in the pair ended at 0.9380. There the dollar started increasing again until it reached the resistance on the way to the 95th figure. Thus, there is still no movement observed in any particular direction, since the pair was trading in the range between the 0.9350 and 0.9566 levels. However, positive attitude towards the dollar remains, and it continues to be bought out on wanes. The pair’s drop below 0.9300 would weaken the American dollar.
USDJPY
The USDJPY finally broke through the support near 94.40-94.00, which caused the rates further to 93.53. But the bears failed to hold below the 94th figure, since the pair returned to the 94.45 resistance this time. However, the pair is still trading below the descending resistance line, which involves further development of the downward correction. Its increase above the 95th figure would mean resumption of the bullish trend in the pair.
