The EURUSD Holding Above 1.3178
For the whole day yesterday the EURUSD was under pressure, opened below Friday`s closing levels, but the support around 1.3183 coped successfully with its task. In turn, growth attempts were limited by the resistance around 1.3210. In the Asian session “bears” have tested the 1.3178 level following which the pair recovered to 1.3214. Nevertheless, interest to sell the euro remains and the currency runs risk to resume declining. In case of a breakout through the support a fall to 1.3070 should be expected, but it is worth noting that the euro looks oversold and this increases a probability to develop an ascending correction that should be used for opening short positions.
The GBPUSD Is Still Under Pressure
The GBPUSD has been opened below Friday`s closing levels like the EURUSD, but “the pound bears” still fail to break below 1.6536. Instead, the pair rebounded to the level of 1.6598, which still successfully holds back onslaught of “bulls”. While the pair trades below the indicated level, the risks of a new decline will be kept. Growth above will weaken a descending impulse and will allow “bulls” to test the resistance around 1.6673–1.6720, where “bears” can become active. A breakout of the latter level will open the way to 1.6842.
The USDCHF Is Unable to Continue Growing
The US dollar fails to continue growing in pair with the Swiss franc. For the whole day yesterday, it traded below Asia`s highs at the level of 0.9178, besides from the lower side its fluctuations were limited by the support around 0.9140. While the pair is trading above the broken resistance around 0.9100–0.9118. The probability of further growth and testing the 92nd figure will remain high. Loss of the 91st figure will weaken a “bullish” impulse and may lead to a fall to 0.9000.
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The USDJPY Trading Below Yesterday`s Highs
Yesterday, the USDJPY was opened above Friday`s closing level. The pair failed to continue an ascending movement and decreased gradually to the support around 103.87. Growth attempts continue to face interest in sales and are limited by the 104.11 level. Thus, the risks of a decline in the direction of the 103rd figure will be increased, but confirmation of the resumption of a descending correction should be a breakout of the support around 102.20–102.00.
