Dec.2: American session
The U.S. dollar strengthened today on almost all fronts. A stunning pair falling EUR / USD, after once again resisted the resistance 1.3615, somewhat puzzled players, both during the day arrived from Europe in general, positive data (PMI Germany and the UK last month showed an increase). It is possible that the game began to leave short-term buyers, fearing above resistance, causing further disruption close stops. Be that as it may, the main forex currency pair has lost nearly 90 pips and formed the low of the day at 1.3525. Now the bulls are trying to stabilize the situation, returning to the level of 1.3560 trades. GBP / USD back to opening levels, after a morning high of the day was formed at the level of 1.6442. During early U.S. session, the pair touched 1.6345 important local support, then tries to resume the main bullish trend.
USD / CHF has restrained today above 0.9030 support, which we mention in their reviews for the fourth consecutive day. Bulls rather quickly regained currency pair to 0.9100 figure in the first half of the day. In the U.S. session, there is increased volatility. Trades are a mark of 0.9080. Perhaps increased bullish pressure. Players continue to buy hard pair USD / JPY. Today it reached 103.00 figure approaching the yearly highs formed in mid-May. Strengthening of the dollar against the yen contributed to speculation that the Bank of Japan reportedly plans to expand the program of monetary stimulus of the economy.
Recovering commodity currencies today was not quite successful. If in the morning they were helped by data from China, as well as Australian statistics confirming the growth of gross profits and number of approved applications for construction , then the U.S. session we see a significant reduction from the current rate of extrema. So , AUD / USD is trading in negative territory, under the figure of 0.9100 and NZD / USD approached the level of the opening and is on 0.8175 support. Breakdown and fastening under these levels may lead to a further strengthening of bearish activity.
Currency pair USD / CAD is now firmly entrenched over the figure of 1.0600, which could not resist a bullish pressure on Friday. Buyers get rid of the Canadian dollar in favor of the American. Trades take place at the level of 1.0635, just below today's highs.
Tatiana Norkina, an analyst at FBS