The EURUSD Soars to 1.3876
Yesterday, the EURUSD rose to 1.3826 on stats in France, where the pair was sold, as a result, it dropped to the support around 1.3760. The rest of the day the pair was slightly above this level, the market activity was sluggish. Unexpectedly, the euro started moving upward gradually and, having broken a day’s high, increased to 1.3876. After testing the level the pair was decreasing gradually, until it reached the 1.3825 level, where the euro found support. It is still unclear what caused the growth. The movement has strengthened stop orders triggering, so it is early to talk about uptrend resumption. The growth can continue if market participants want to buy at current levels, but without it the EURUSD is taking risk to return to 1.3760.
The GBPUSD Remains Under Pressure
The GBPUSD was trading in a tight range all the day, limited by the resistance level of 1.6511 and the support level of 1.6465. Heading after the EURUSD, the pound increased to 1.6536, after that it returned to 1.6490. This jump of the rate does not change the situation, so downside risks are kept. Nevertheless, a rise above 1.6536 can lead to weakening of the bearish momentum, providing the bulls an opportunity to test 66th figure.
The USDCHF Still Can Return to 0.8865
Testing the resistance level of 0.8865 was unsuccessful again, because here the USDCHF came under pressure again, which led to a fall to 0.8786. Amid this demand for the dollar remained, and the currency rate retreated to 0.8812. As in the case with the euro, yesterday’s decline of the dollar does not mean downtrend resumption on it, so the risks of returning to the resistance level of 0.8865 are kept. A drop below 0.8786 may be a confirmation of downtrend resumption.
The USDJPY Fails to Overcome 102.65
Yesterday, the EURUSD tried to attack the resistance level of 102.65 again. Bears` offers located here, returned the pair to a local support around the 102.12 mark. Thus, the dollar failed to rise above highs reached on March 19, which increased the risks of a renewed decline. Falling below the 102nd figures will confirm this and lead to testing the support level of 101.60.
