Apr. 15: American Session
Tatiana Norkina, analyst at FBS
After J. Yellen's speech, the firming US dollar index tumbled unexpectedly to the 79.75 figure, thus not breaking the important 80.00 level. Negative data on the housing market contributed to the deterioration of the moods as well. U.S. stocks indexes have also slipped into the red zone. S&P500 is losing about 0.20%, DJIA - 0.15%.
At the same time, the EUR/USD currency pair has found support in the 1.3790 area and recovered to 1.3835. But here it was met by the strong resistance of the Ichimoku cloud on the hourly timeframe. The pair is returning to the 1.3800 figure at the moment.
The UK consumer prices data publication has forced the GBP/USD pair to initially sag to the strong support at 1.6655 and then recover to 1.6750. High market volatility still remains; bears are correcting the course in the 1.6715 area.
The USD/CHF pair is still trading near the 0.8800 figure, having tested the 0.8780 support today. Meanwhile, USD/JPY cannot break the 101.90-102.00 resistance. Bears have pressed the market again today and reduced the pair course to the 101.60 support.