Support at 1.3065 Range Holds the EURUSD Decrease
Nothing important happened at the beginning of a new trading week. The EURUSD hesitantly tested the support at 1.3065. After that, the pair recovered its position to 1.3143 and then it dropped to 1.3109. The pullback from the support level after such pair`s decrease was quite expectable because of pair`s oversold. But the EURUSD did not manage to recover and consolidate its position above 1.3180, that explained the downward trend movement. That is why, the upward movement`s attempts should be considered as an opportunity to open short positions at the best price.
The GBPUSD Remains Positive
The GBPUSD recovered its positions yesterday. The pair`s currency rate increased to 1.5434 after it had tested the support at 1.5343, and then it increased up to 1.5465. The decrease in a cross- rate also supported the GBPUSD. Today, the pair is being traded with a positive sentiment, and it may test the resistance near the 55th figure. It is early to speak about a pullback because in this case the British pound should recover and consolidate its position above 1.5530. This will mean the bottom formation and the upward trend development. Otherwise, the pair will test the current positions.
The USDCHF Returns to Support near the 93 figure
The U.S. dollar has not managed to continue its upward movement against the Swiss franc. Instead, it returned to the support level approaching the 93rd figure yesterday. The pair consolidation is obvious after such high increase in the pair and the decrease of the EURCHF. The further U.S.currency`s prospects may be failed due to losing in the support. Then the bears may count on the support testing near 0.9260 and, in case of its overcoming, they may test 0.9220. The decrease below this level will mean the development of the downward trend for the bulls.
The USDJPY Remaining above 97.22
The recovery in the USDJPY pair stopped at 98.70 where the currency rate decreased to 97.22 and the 100 day MA was crossing. This support meets the bulls expectations. The loss of support will lead to the downward movement to 96.00 for the U.S. dollar. The increase above 99.00 will confirm the uptrend movement. In this case the bulls may count on the 100th figure testing.
