Trading session on Monday as expected, was not very active. The only event was the publication of data on home sales in the U.S., the rate was worse than expected, but nevertheless, a strong pressure on the dollar, he did not have. The market goes into a correction after a significant decline in the dollar against most currencies. At the end of Monday's U.S. currency rebounded slightly.
The currency pair EUR/USD closed at the opening. During the day, the European currency showed decline, but, apparently, the negative news from the U.S. returned the EUR/USD pair to initial levels. We remind, the European currency has recently reached levels 1.3700 against the U.S. dollar on the pair is currently declining. It is worth noting that the decline in sluggish, especially large sales, which are strongly influenced by the euro would not. We believe that this is just a sign of the corrective movement, in other words, the growth of the European currency may continue after a brief pullback. Local minimum is the level of 1.3650, it has been made during yesterday's session, at this level, and is the temporary support.
The British pound lower against the dollar. GBP/USD is moving to the level of 1.6100, which is support. In contrast to the euro the pound fell on Monday on 30 points, now is also a tendency to decrease. Many market participants are rethinking occurred in the last time of the event, as speculators cover their short positions. Therefore, we do not think that the decline in the pound is directional, and more inclined to the view that this correction. The market is in limbo, waiting for the big players or future developments, or by using the rollback after growth, staff their position. Resistance for the pair GBP/USD is at 1.6220 - 1.6250 .
Even halt the growth of the Australian dollar, which lasted nearly seven consecutive days. After reaching 0.9675 AUD/USD pair started to decline. Support for the Aussie is at 0.96 . Unlike other currencies, the Australian dollar's decline may be more significant. AUD/USD pair may even go back to a level of 0.95, in this case, the pair retraced exactly 50 % of its growth. Today is also expected to yield data on the U.S. labor market. Traders U.S. data will be a guiding light in the market.Social button for Joomla