Dollar declines slowed. On Thursday, the U.S. dollar managed to rise slightly against other major currencies. The European currency, the British pound showed a slight decrease, showed a significant drop in the Australian dollar.
The European currency after weeks of growth, for the first time on Thursday lost in its value against the U.S. dollar. Now the pair EUR/USD fell below 1.33 and it looks like is going to fall further. Recall report on industrial production in the euro area was worse than analysts' expectations, which also plays in favor of the euro. As can be seen from the graph of the pair EUR/USD failed to consolidate above the level of 1.33, this is also a factor in the weakness of the single currency. On the other hand trading on Friday often exhibit sliding motion, the euro last week rose by nearly 150 points, and market participants are likely to fix their profits, which ultimately reflected in the reduction of EUR/USD.
Currency strategists at Commerzbank believe that the achievement levels of 1.3320 dollars, the graphs show a positive trend. The bank's analysts note that the downside risks to the euro are exhausted. Computer indicators suggest continued trend, which aims to move the euro, according to Commerzbank are 1.3378 and 1.3453 .
GBP/USD has slowed the rate of growth, and by the end of Thursday even recorded a slight decline. The British pound is trading near the 1.58 resistance, the bulls will require a lot of effort to overcome it. Support for the currency pair had comments of the Bank of England. We still maintain bearish on GBP/USD, and we believe that now is the best time for sales, for this there are several signals - slow uptrend resistance area, 1.58 - 1.59, the divergence on the daily chart.
The Australian dollar is under pressure after trying to break the level of 0.93 . For the pair AUD/USD support is at 0.92, it can be the basis for the second bull wave. If it does not, then the Aussie will continue to drift between the boundaries of 0.90 - 0.93 . So far, the decline of the pair holding back support at 0.9250, resistance is at around 0.93 .
Add dynamic trading will start the Eurogroup meeting, as well as U.S. data block, which will be released later today.Social button for Joomla