Dec. 10: American session
The U.S. dollar continues to decline today against almost all world currencies in the absence of any fundamental data. At the same time, the single European currency again highs after Mario Draghi speech. EUR / USD pair is trading just below a session high of 1.3790, 1.3775 in the field. Note that the market is very overbought, and in the area there is a strong level of 1.3780 resistance, which can stop the bullish rally. GBP / USD pair today was not supported by the macroeconomic indicators. Data on industrial production and the country's trade balance went worse than expected, which led to the consolidation of support 1.6420. Now trades are carried slightly above this level, but it is possible and testing 1.6400 figure.
USD / CHF has updated yearly lows, falling to 0.8850 area. Here we have another level of support that could be used for short-term recovery bulls. The Japanese yen strengthened today unexpectedly, despite, in general, negative data from Asia. USD / JPY has fallen off at the opening session, but found support at 102.60. At the moment, the bulls are trying to regain the market , trade is conducted below the figure 103.00.
Australian dollar today was supported by a neutral statistics, although the demand for housing loans in the country continue to fall. Thanks to everyone weakening "American", AUD / USD has topped the six-day highs and is now trading just below session extremum near 0.9145. There is potential for growth, but the market at the same time, slightly overbought. Possible corrective decline to around 0.9120. Pair NZD / USD recovers less briskly - is a struggle for a piece of 0.8300. Securing over it could open the way to 0.8360.
USD / CAD pair could not hold in the range of 1.0625-1.0665, which was the last three days. While the pair found support at 1.0610 and tries to recover in the area of 1.0620, but the rest of the session may test 1.0600 figure.
Tatiana Norkina, an analyst at FBS