The EURUSD Sold on Growth
The EURUSD continues consolidating. Within its confines the pair was able to restore to 1.3579 yesterday, and in the Asian session – to 1.3587. Nevertheless, this does not change anything for the single currency, as forecast is negative for it. This is confirmed by growth attempts that continue to attract interest in sales. One should not exclude growth attempts in the direction of 1.3600-1.3620, and it should be used for opening short positions. A minimal target looks the support around 1.3475.
The GBPUSD Would Test 1.7000 Again
The GBPUSD consolidates after last week’s rise to 1.6992. Yesterday, bulls moved ahead slightly, tested the 1.7010 markup, after that the pair appeared to be under pressure and was forced to retreat to the local support around 1.6959. Demand on dips remains, and bulls would try to break above the psychological level of 1.7000 again. Inability of the pound to consolidate above can trigger profit-taking by short-term players with a further decline in the pound to 1.6900-1.6942. Today, data on consumer inflation in the UK will be published that can influence significantly on the dynamics of the pair.
The USDCHF Consolidating Below 0.9000
The USDCHF rose above the psychological level of 0.9000 for a while, but after testing 0.9012 it appeared under pressure again and decreased to the local support around 0.8964. Thus, a consolidation phase continues. The dollar needs to rise and to consolidate above 0.9000 to continue upward momentum. Otherwise, it will run the risk to resume a decline.
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The USDJPY Trying to Recover
The USDJPY still trades above the support around 101.59. Yesterday, fluctuations in the pair were limited by the levels of 101.72 and 101.95. In the Asian session, the dollar rose to 102.07, risks of further development will be kept. If bulls manage to consolidate at current levels, they can test the resistance around 102.80, a breakout through which will put finish to a descending correction.
