The EURUSD Is Above 1.3720 Again
The EURUSD started a trading session with a positive sentiment and the dynamics of the pair was sluggish. The pair had risen deliberately to the support level of 1.3720 for the entire day yesterday, overcame it and stuck near the resistance around 1.3748. Being corrected, the euro exited out the state of overbought on a 4-hour chart, so now nothing prevents it from a decline resumption. Given surprising stability of the single currency a rise resumption cannot be excluded. A breakout through the resistance in the range of 1.3800—1.3820 will confirm this.
The GBPUSD Needs to Exit a Range
Yesterday, the GBPUSD also corrected after last week’s decline. Despite the pair could correct above the support level of 1.6500 it is unclear if it is correcting now after a decline or returning to way of growth after last week’s descending correction. This can clarify a steady exit of the pair out of the range, limited by the support at 1.6550 and the resistance at 1.6675.
The USDCHF Can Resume a Rise
There are no any interesting fluctuations in the EURUSD. After last week’s rise yesterday the pair corrected to 0.8872, where it was located up to then. Due to yesterday’s decline the dollar has exited out of an overbought state on a 4-hour chart and if it manages to hold above 0.8860—0.8820, then its resumption to current highs at the level of 0.8951 can be presumed. A fall below 0.8820—0.8800 will force to doubt if the dollar is able to resume the ascending dynamics.
The USDJPY Can Decline to 102.60—102.40
Last Friday the USDJPY dropped after a failed attempt to rise above the 104th figure, and yesterday a decline continued. The bears modestly tried strength of the 103rd figure, and then fell asleep just above it. In the Asian session they had the audacity and broke the level, having tested the 102.74 level. They still cannot overcome the bids located here, but downside risks to 102.60—102.40 are kept. A resumption above 103.40 will return the pair to rise.
