The EURUSD Remains under Pressure
The foreign exchange market, apparently, entered the pre-holiday “sleep.” The EURUSD at first slowly rose to the resistance around 1.2272 yesterday, then turned and slowly fell to the support around 1.2216. Such rate of exchange fluctuations may be kept in the coming days, but, as it was noted above, there may be sharp movements in any direction with low liquidity. The EURUSD may test 1.2200, the breakout of which will open the way to 1.2000. Today data regarding the US GDP will be published, which may have an impact on the dynamics of the pair.
The GBPUSD Approaching 1.5545 Again
The behavior of the GBPUSD was not less boring yesterday. Although the pair declined, having fallen from the resistance around 1.5665 to the support around 1.5573, having passed nearly 100 points, this movement was not very dynamical. Pressure on the pair is kept, it may test the support around 1.5545 in the short term. Today data regarding the GDP of the UK will be published, which may cause a surge of volatility.
The USDCHF Traded above 0.9800
Yesterday the US dollar paired with the Swiss franc managed to stay above the previously broken 98th figure and test the resistance around 0.9849. Sure, it is a positive factor for the dollar, which means the growth resumption towards 1.0000. However, profit-taking at the end of the year should not be excluded. The loss of the support around 0.9800 will lead to the decline in the direction of 0.9700-0.9666. In view of the possibility of inadequate movements it is better to refrain from taking action.
The USDJPY Back above 120.00
As we have predicted, the USDJPY continued to rise and test the resistance around 120.00. Bulls managed to overcome it easily and test the mark of 120.18 at the moment. Undoubtedly, the downtrend for the yen remains in force, although rebounds of the dollar paired with it should not be excluded. Today data regarding the US GDP will be published and may move the foreign exchange market. You should beware of inadequate movements.
provided by IAFT
