The EURUSD Testing the Support at 1.3176
Yesterday the market activity was low due to the day off in the USA. The EURUSD was traded in a narrow range between the resistance at 1.3227 and support of 1.3185. Today the pair is under pressure and testing an important level at 1.3176 for the bulls. Moving averages and the Parabolic SAR expect the price decline, but it could be restricted by the 1.3147 level where the 10- day MA traversing. Overcoming of 1.3176—1.3147 will lead to drop down to 1.3070 and 1.3020. The bulls should recover the currency rate of the pair above 1.3263 to improve prospects.
The GBPUSD Holding Above the 55th Figure
Continuing decline in the EURGDP again supported the GBPUSD pair. A drop towards 1.5505 attracted buyers, and the pair rose to 1.5569, and soon to 1.5593. Here the pound came under pressure and fell to 1.5531. Until it is traded above the support at the 55th figure, the chances for continued growth remain, but the decline in the EURUSD will entail the GBPUSD, therefore, the loss of this support should not be excluded. In this case, the pair fall to 1.5462-1.5428. A drop below 1.5376 would be a negative sign for the bulls on the pound.
The USDCHF Continues Increase
Yesterday the dollar was traded with a positive sentiment. When it tested the support at 0.9307, the pair overcame the resistance at 0.9335 and increased to 0.9348. Now this level has been also punched. The dollar has tested the marker of 0.9371. Thus, the USDCHF is approaching to the August’s highs close to the 94th figure where the dollar was actively oversold. Consequently, the bulls should break through and consolidate above this level, then they can rely on further growth towards 0.9500-0.9533. The loss of support at 0.9307 will worsen prospects for the dollar.
The USDJPY Approaching to the 100th Figure
The USDJPY continues its growth, punched the resistance at 99.00 and increased to 99.70. The bears should forget about a downward correction, in any case, at this stage. There is a strong resistance at the 100-th figure on the bulls` way. If it punches, the growth of the dollar continues. In this case, the next target level for the bulls will be the 100.68 level. The level of 99.00 will act as a support, and a drop below will weaken the bulls` position.
