Mar. 10: American Session
Tatiana Norkina, FBS analyst
American indices began the new week with decline. So, S&P500 is currently losing about 0.56%, and the DJIA - 0.64%. The dollar index is slightly up about +0.08 %. At the same time, the currency markets has a lull in the absence of important news events. The EUR/USD pair is consolidating around 1.3880 mark. USD/CHF recovered under the 0.8785 resistance. Outset observed on USD/JPY pair, which is now trading in the range of 103.00-103.30.
Strong movement today recorded on the currency pair GBP/USD, which fell to the recent support of 1.6620 as a result of corrective decline. If this level is not withstand the pressure of bears, it may drop to around 1.6540 mark in the short term.
USD/CAD pair is still holding above the 1.1100 figure, but the likelihood of correction to 1.1050 support is very high.