The EURUSD Testing 1.2825
Yesterday the liquidity was low, that’s why strong motions were not observed. Nevertheless, the EURUSD rebounded from the support around 1.2731 and slowly but steadily, rose to the resistance around 1.2825. Its breakout will lead to testing of the point of 1.2845. Here or at the current levels, bears can activate, but it is not a fact. In the case of growth above bulls will face the resistance around 1.2881 and 1.2900. Loss of the support around 1.2731/00 will signal about the resumption of the downtrend.
The GBPUSD Recovering Again
The GBP USD also has resumed the recovery. Though the market activity was at a low level yesterday, the pair failed to break the resistance around 1.6118-1.6131 and rise to the resistance of 1.6173. In the Asian session this level has been broken, and now bulls are trying to consolidate above. If they are successful, they will be able to test 1.6200 and 1.6227, that can activate bears. In order to return the control of the situation bears need to go back below 1.6118/00.
The USDCHF May Continue to Decline
The US dollar paired with the Swiss franc attempt to rise above 0.9470 was unsuccessful, and it resumed its decline as a result of what it fell to 0.9404. The pressure on it is kept, that may lead to a decline of the pair to the lows of the last Wednesday at the level of 0.8359. Its breakout will allow bears to test support around 0.9308. For the growth resumption the dollar needs to return above 9.9480-0.9500.
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The USDJPY May Resume Growth
With the beginning of a new trading week the dollar paired with the Japanese yen rose to the level of 107.39, where it appeared under the sellers’ pressure again, because of what the pair fell to the support around 106.78. In the Asian session it was broken, that resulted to the decline to 106.25. The fall of the dollar is still the result of profit-taking on long positions, so it is not necessary to talk about the formation of the top and trend reversal, in any case, the pair is still traded above the 104-th figure. Therefore, the risks of the dollar growth resumption are kept, for what it needs to get back above 107.0 /39.
