The EURUSD Taking the Risk to Fall to 1.3720
The past week has not brought anything new to the overall picture for the EURUSD. The pair traded in the range limited by the support around 1.3790 and the resistance around 1.3864. Yesterday, it tested the support again but failed to move below. The overall picture as well as indicators is neutral. Only the Parabolic SAR is located above the price chart now that may imply a price decline, its minimum target may be the support near 1.3720. Nevertheless, we should not exclude attempts to increase by the 39th figure that should be considered as an opportunity to open short positions.
The GBPUSD Attempting to Return to Highs
The GBPUSD was declining at first, but data on labour market in Great Britain returned interest to buy the pound. Due to this the pair found the support around 1.6683, from which it was able to rise to the level of 1.6820, overcame it and tested 1.6842. The upward momentum has not received further development, and the pound appeared below the 68th figure again. Nevertheless, demand for it is kept on dips to 1.6774, and it keeps trying to return to current highs. Despite kept positive towards the pound, its ability to continue rising and to move significantly upward casts doubt. In case of the development of a correction, the support around 1.6700-1.6660 will be a target.
The USDCHF Can Rise To 0.8900
The USDCHF was also in a range. From below its fluctuations were limited by the support around 0.8777, from above by the resistance around 0.8836. With the beginning of this week, the dollar could go slightly higher. Market activity is still at a low level, so it is to wait until it is normalized to be able to objectively evaluate the sentiment of market participants. In general, the dollar looks able to test the 89th figure, rising above which will improve its prospects. Till then one should not exclude testing the 87th figure.
Downside Risks of The USDJPY Are Kept
The USDJPY bears failed to consolidate below 101.59. The dollar has managed to return above the level and rose to 102.56. Despite this, risks to resume a decline are kept. Loss of the 102nd figure will lead to testing the support around 101.59 again, but the yen needs to break below 101.22 to develop a larger correction. A rise above 103.00-103.40 can mean resumption of an ascending trend.
