The EURUSD Still Trading In a Tight Range
The overall picture on the EURUSD was not changed yesterday. The pair rose to 1.3771 at first and then decreased to 1.3708. The pair finished the day around the 1.3733 level where it was started. The situation still remains the same: the euro is trading above the 1.3685 level, the chances to test the 38th figure are kept. A fall below the 1.3685 level will open the way to 1.3618—1.3600. The upward trend of the pair does not inspire confidence.
The GBPUSD Continues to Be Bought
The GBPUSD still cannot determine its direction. The pair was thrown in different directions. At first it tested the 1.6599 level, then — 1.6678. Here the pair was sold again, its rate decreased to 1.6583. The bears have failed to consolidate below the 66th figure, as the bulls continue to buy the pound on dips. This testifies about preserved strength of the bulls that gives a reason to presume testing 1.6700—1.6720 in the short term. A fall below 1.6583 will worsen prospects of the pair.
The USDCHF Under Pressure Again
The decline of the USDCHF to 0.8850 caused interest to purchases but they were not observed as large-scale, as the pair was sold while increasing to 0.8909 and its rate started decreasing again. Thus, the dollar bulls cannot reckon on the improvement of prospects as for this the quotes should rise and consolidate above 0.8920—0.8940. Until then, the risks of testing the 88th figure will be kept.
The USDJPY In A Tight Range
The USDJPY is still trading in a tight range. While decreasing to 102.16 the pair was sold and it rose to 102.60. The attempts to break and consolidate higher failed. Today, the dollar is decreasing to current support again. In general, the picture is neutral, a breakout of the 102.16-102.83 range in one or another direction will mean either testing the support around the 101.59 level or an uptrend resumption.
