The new week started with surprises. Despite the overall decline of the dollar against major currencies during the Asian session, the European currency was opened up down. One of the central events of the week is the meeting of the U.S. Senate, which must decide on the financing of the budget. At this point, all currencies are in trading ranges, formed last week.
The European currency started the week with a sharp decline. The EUR/USD opened below 1.3500 dollars and falling. Apparently, the euro is moving towards support level at around 1.3465 . Worsened the situation of the euro retail sales data, they were much weaker than analysts had expected. Reduction of EUR/USD pair was of a technical nature, on Friday the euro failed to reach resistance 1.3550 and grow up a little higher. Entrenched at those levels, we can see that the pair fails, the behavior of market participants once again confirms the presence of lateral movement rates and uncertainty about the prospects of the market.
In better shape is the British pound. It's still trading near the top of the channel, which is located at the level of 1.6160 . Technical factors point to the decline of the pair GBP/USD in the near future, but on the other hand the behavior of the bulls is very aggressive, so it's possible the further growth of the pair. Traders and investors expect the strengthening of the British pound, the evidence of this can become economic data such as the index of PMI (manufacturing activity), which analysts portend rising to two-year high. If all and will be the pair GBP/USD, no doubt, will receive strong support, and the UK currency will be in high demand. Support for the pair is at 1.6080, the overall picture for the British pound - with a range of 1.5940 and 1.6160 borders.
The Australian dollar is already close to the 0.93 support. This week, most of all, we see a struggle between bulls and bears, which will manipulate the course pair AUD/USD near this area. In comparison with other currencies Aussie looks weaker, in contrast to the other pair AUD/USD dropped all week. 0.93 level after a couple has more intermediate level of support - 0.92 . If the Aussie will not be able to stay at current levels is a good chance that we will be able to watch a new wave of sales, which will push the pair to the level of 0.90 .Social button for Joomla