Good morning. Herewith we would like to present our daily currency market commentary.

EURUSD
The pair set new high at 1,5140 yesterday and right now it is consolidating slightly lower around 1,5050 which level may be used to open long positions. However deeper correction to 1,5010/1,4980 may not be excluded. Expected gains are likely to reach once again 1,5140 and afterwards 1,5190/1,5220. Only fall below 1,4960 will suspend this pro-growth scenario.

GBPUSD
Bounce off the resistance at 1,6740 is clearly seen as a bearish signal. Destination target for this pair we assess for 1,6330 within next trading days, so any upward rebound may be used to open short positions. For now 1,6610 seems reasonable to go short with targets at 1,6480.

USDCHF
The pair has finally managed to break the support at 1,0030 and fell to 0,9920 yesterday. Current trading may be described as movements between these two limits. Downside rebound is likely to bring this cross as low as 0,9860 however we suggest staying cautious due to the risk of SNB intervention. Rise above 1,0030 is expected to reach 1,0120 easily.

EURJPY
Rapid falls were halted at 130,40 last night and now the pair is consolidating around 131,00. In mid-term our attitude remains pro-growth but in short term further drops may not be excluded. So it may be worth to open short position around 131,60/132,00. Rebound above 132,00 will drive this cross to 132,80. Falls below 130,40 are expected to deepen current slide to 129,00/128,40 within next days which levels are seen as perfect for long positions.

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