Dec. 9: American session
U.S. dollar depreciates moderately against most currencies despite the very positive statistics last week. Thus, the pair EUR/USD today is storming to new heights, trading at session highs in the 1.3725. It should be noted that the growth, nevertheless, is inhibited due to the presence of the resistance levels on the present marks. A four-hour picture looks pretty overbought. In the absence of major macroeconomic indicators, technical bids can lead to the onset of corrective decline. Only in the evening FOMC members Bullard and Fisher will perform one after another. GBP/USD pair dropped some share overbought resuming recovery. Currently trading is under the figure of 1.6400, which restrains the growth of pair four days in a row. A special influence on the bidding may be made by M.Karni statement today.
USD/CHF has updated the lows, but bears still do not dare to test 0.8900 support figure. This was prevented by not very optimistic statistics on retail sales in Switzerland. Now the market is consolidating around 0.9820. There was a release of a very bad data about Japan this morning: GDP and payment balance is worse than expected. This has contributed to the strengthening of the pair USD/JPY, which is currently trading at a session high of 103.15. Securing above the figure 103.00 will give a new carte blanche to customers as the market is not going to be corrected after Friday's takeoff.
Commodity currencies declined slightly during today's trading, but at the beginning of the U.S. session, buyers appeared on the market. So, the pair AUD/USD retreated from 0.9070 day low and tests below 0.9100 figure. Pair NZD/USD still trades with a small loss in the area of 0.8270, after it received a support at 0.8260. Perhaps the bulls prepare a bridgehead for further short-term uptrend.
USD/CAD pair is once again trading below 1.0666 resistance, which does not let the price off from Friday. But bears are not on the market, as the day had published negative data on housing in Canada. Now trades are in the neutral zone - 1.0650, but can go back to the support 1.0633.
Tatiana Norkina, FBS analyst.