The EURUSD Consolidates After Fall
There was no the decline resumption of EURUSD after the fall to 1.2437 yesterday. The pair consolidated in a narrow range, while in the Asian session it rose to the level of 1.2531, which does not change the negative forecast for it, and the pressure is kept. In the short term bears may test the level of 1.2400, the loss of which will open the way to 1.2261. However, if bulls manage to consolidate above 1.2500, the euro will correct towards 1.2825, where opening of short positions should be considered.
The GBPUSD Still Below 1.6000
The GBPUSD is continuing to consolidate above the support around 1.5940/26. The recovery attempts are limited by the resistance around 1.6000-1.6022. Thus, the range is formed at this stage, the output of which will decide its further direction of movement. Therefore, the breakout of the support will lead to the decline to the support around 1.5916-1.5873. The growth beyond 1.6000-1.6022 and the ability to consolidate higher will lead to the growth of the pound to 1.6118-1.6131. The breakout of the last level will weaken the downward pressure.
The USDCHF Left Resistance Around 0.9666
The US dollar paired with the Swiss franc failed to rise above 0.9666 yesterday, and having been under the pressure, it had to retreat to the support around 0.9624. The continuing demand for it leaves bulls the hope for the next testing of the abovementioned resistance and its breakout, followed by assault of the highs around 0.9691. The loss of the current support will lead to the decline of the pair to 0.9600-0.9555, where opening of long positions should be considered. The loss of the last level will weaken the upward impulse.
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The USDJPY Reached 114.17
In full accordance with our forecast, the US dollar continued to rise against the Japanese yen yesterday, having risen to the resistance around 114.17. At this stage bulls took a break, as a result of what the pair declined to the support of 113.27. At this stage the consolidation of the pair in the range between 114.17 and 113.27/00 is possible. The breakout of the resistance will lead to the growth to 114.65. The fall below 112.47 will weaken the upward impulse.
