EURUSD
For the whole day yesterday EUR/USD did not move anywhere. The pair was traded in a narrow range between 1.3300 and 1.3332 levels. During Asian session, euro rose sharply to 1.3357, but the pair could not go any higher. In general, there were not any changes in the overall picture. However, support in the 33rd figure continues to keep the euro from falling, which is a good factor for the bulls on it, well, drawing of a double top did not work. But, still one should not exclude falling to 1.3180-1.3160, unless, of course, the pair is not be able to overcome the 34th figure.
GBPUSD
Euro/pound did not develop a downward correction and pound did not strengthened against the U.S. Dollar either. Its achievements were limited by 1.5893 level, from which pound/dollar fell again, this time to 1.5805, and then fell back to 1.5854. Pressure on the pair remains as well as selling on rebounds, but pound begins to show signs of being oversold, it may create some difficulties in further decline. Therefore, one should be extra careful with sales at current levels. Growth and ability to consolidate above the 59th figure somewhat ease pressure on the pair, but only the ability to develop upward momentum above 1.6170 will give reason to suppose ending of the British downward trend.
USDCHF
Trading in the dollar/franc also took place in a narrow range, which was limited by 0.9348 and 0.9307 levels. Franc, at the moment is trying to win back lost positions, putting pressure on the support around 0.9290, where on daily chart the 100-day moving average is. If it is passed, then dollar will fall to 0.9240-0.9200. Falling and the ability to consolidate below 02nd figure would mean resumption of the downtrend in the pair.
USDJPY
In anticipation of the announcement of results from Bank of Japan meeting dollar/yen is trading with a downward bias, falling to 89.33 support. Attempts to growth were limited by 89.87 level. After results were published the pair tested 90.14 and 88.89 levels. When markets calmed down, dollar began declining towards the 89th figure. In case it is overcome the pair will be in bears’ hands, the immediate goal of them will be 88.40-88.00. Returning to 90th figure will weaken bearish pressure on the dollar.
