Growth Attempts of the EURUSD Continue Attracting Bears
As expected, there were not any fluctuations in the EURUSD yesterday. The pair continues consolidating after it has fallen to 1.2859, trading in a range limited by the support at 1.2908 and the resistance at 1.2979. Yesterday, the euro failed to increase above 1.2951, as growth attempts still attract an interest in selling. The pair still needs to correct above, but there are not any incentives for this. Perhaps events of the current week will be such an incentive. But now let’s wait. During the periods of low volatility the binary option buying “inside a range” looks attractive, but a burst of volatility is expected in the coming days. Before release of any important news one should buy a “touch” option.
The GBPUSD Resumes Declining
Yesterday throughout the day, the GBPUSD was between the resistance around 1.6268 and the support around 1.6220. The pound fails to continue recovery and inability to break above current highs has led to profit-taking by short-term players. As a result, the pair is declining now, having tested the 1.6186 level for now. The immediate support is at 1.6173, the next one is at 1.6131. A probable Scottish separation from Great Britain will put pressure on the pair in the coming days, and today data on consumer inflation can affect its dynamics.
The USDCHF Squeezed Between 93rd and 94th Figures
There were not any interesting movements in the USDCHF yesterday. The pair rose to the level of 0.9372 following which it decreased to 0.9340 and during today’s Asian session — to 0.9333. Thus, it is early to mention any changes in the overall picture. The pair needs to break the support around the 93rd figure to correct below, but it needs to break the resistance around the 94th one to continue growing.
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The USDJPY Is Unable To Break 107.40
The U.S. dollar is unable to break the resistance around the level of 107.40. In turn, decline attempts are limited by the support around the 107th figure where demand for the dollar is kept. Nevertheless, inability to break the resistance and to continue growth increases a probability of a rebound down by the dollar. When this occurs, the immediate target for bears can be the support around 106.40—106.00. While the pair is trading above 105.45, an uptrend will be in force.
