The EURUSD May Test the 38th Figure Again
The EURUSD was trading mixed yesterday. In the beginning the pair increased to 0.1798, then it returned to support at 1.3742. Today the pair is increasing again and has already tested the level of 1.3774. The overall picture remains the same: the euro may test the 38th figure, its breakout will lead to the year’s highs testing at the level of 1.3832. A loss of support at 1.3709 – a decrease to 1.3618/00. The FOMC decision which is scheduled for tomorrow can change fully the situation.
The GBPUSD Trading Above the 63rd Figure
The GBPUSD kept trying to consolidate above the 63rd figure. In the beginning a rise to 1.6348 attracted the bears and the pair returned to support below the figure. At the moment the pound is directing again to the yesterday’s highs, a rise above which will open the way to the 64th figure. A loss of the current support will worsen GBPUSD prospects and it will fall to 1.6200—1.6173. Today`s consumer price index in Great Britain can influence on dynamics of the pair.
The USDCHF Continues Declining
Yesterday the USDCHF resumed declining and dropped to support at 0.8846. Here demand for the pair appeared that allowed it to recover to 0.8887. This movement did not continue developing and the dollar, having turned under pressure again from the bears, dropped to 0.8859. The overall picture is still negative for the dollar and presumes continuation of a fall in the direction of the 0.8568 level.
The USDJPY Is Unable to Consolidate Above 103.00
It is likely that the USDJPY bulls are tired as after a decline to 102.64 they failed to return the dollar above the 103th figure. Attempts to consolidate above the figure failed that increases risks to resume to support at 102.64. A loss of this level will lead to a decline to 102.15/00. But until the dollar is trading above 101.59, the USDJPY bulls should not hasten to get rid of long positions.
