The EURUSD Keeps Trying to Recover
Subsequent consolidation of the EURUSD continues. After falling to 1.3512 the pair has corrected to 1.3643, then returned to the range between the support at 1.3545 and the resistance at 1.3618. The further development of a corrective recovery or renewal of a decline will depend on the ability of the pair to overcome one or the other of the above mentioned levels. A negative towards the euro is kept and a possible recovery in the direction of the 37th figure should be considered as an opportunity to open short positions. The immediate aim looks the support around 1.3512-1.3475.
The GBPUSD Retreating from 1.7000
Demand for the British pound is kept. Its decline in pair with the U.S. dollar towards the broken psychological level of 1.7000 draws interest in buying. Bulls do not leave attempts to test current highs at the 1.7062 level. Inability to break through them will turn to profit taking with the further development of a descending correction. Loss of 1.7000 will lead to a decline to 1.6950-1.6900 that will not mean top formation and a trend reversal.
The USDCHF Staying in Tight Range
The USDCHF is also consolidating in a tight range. Fluctuations of the pair are limited by the levels of 0.8967 and 0.8939. The risks of growth resumption and a breakout of the psychological level of 0.9000 are kept. Loss of the 89th figure will weaken an ascending impulse and will lead to a decline in the direction of the 88th figure. The National Bank of Switzerland intends to continue fighting for consolidation the franc, so significant descending advance of the USDCHF looks hardly probable.
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The USDJPY May Test 102.20/30
Yesterday, the USDJPY pair decreased to the intermediate support around 101.81, after that it continued fluctuating in a range. From the upper bound they are limited by the 101.97 level. The ability to hold above 101.81 can lead to the resistance testing around 102.20/30. Its breakout will give bulls an opportunity to test the resistance around 102.80. The increase will improve perspectives of the pair, but until the level has not broken out , the risks of a resumption of decline will be kept.
