The EURUSD Tested Support At 1.3720
Being under pressure due to the critical situation in Ukraine, the EURUSD pair, opened by the downward gap, continued declining and reached the support around the level of 1.3720. Here demand for the euro remains owing to which its rate was able to rebound to 1.3767. Until the ECB announces its decision and Mario Draghi holds the press-conference, the pair could trade within the range, limited by the levels of 1.3720 and 1.3823. Loss of the current support will lead to testing the 1.3643 level.
The GBPUSD Drops Again
The GBPUSD bulls did not attack the 68th figure yesterday. Instead of this the pair reversed, went down and reached 1.6652, and in the Tuesday’s Asian session — 1.6640, where a 10-day MA traversed. Here the pound continues to be bought and it is trying to rise again. The resumption above 1.6700 will lead to testing 1.6750, loss of 1.6640 — to testing 1.6600. While the pair is trading above 1.6640—1.6600, the chances to test the 68th figure remain.
Downside Risks of the USDCHF Remain
Yesterday, the USDCHF traded almost on the spot between the levels of 0.8782 and 0.8820. Later the pair managed to move slightly higher and test the 0.8842 level. Nevertheless, a negative sentiment remains and a decline of the dollar can resume at any time. Technically, the pair should rise higher 0.8900—0.8930 in order to weaken the bearish momentum. Until then downside risks to 0.8568 will remain.
The USDJPY Above 101.59 Again
The USDJPY bears failed to develop a downward trend yesterday. Moreover, they could not consolidate below 101.59. During the whole day the pair traded in a tight range, limited by the levels of 101.20 and 101.59. Today, in the Asian trading session the dollar has broken resistance and rose to 101.59. It is early to speak about uptrend resumption. The dollar should rise above 102.83 to do it, but if it resumes higher, the bearish momentum will be somewhat weaker. Another drop lower will lead to testing 100.68.
