Jan. 21: American session
EUR / USD today shows weakness, despite , in general, positive data from the ZEW eurozone. Currency pair installed today's minimum in the area of 1.3516, but returned bulls regained prices to 1.3535-1.3540, which bears punched down for a rather long time today. The pair GBP / USD set a new maximum at 1.6484, in the last six trading days after the CBI announced a decrease in the index of industrial orders up to 2 points , while analysts had forecast an increase to 10 points . Bulls likely now focus on the range 1.6500-1.6520.
USD / CHF has strengthened again during the day, but by testing the 0.9155 mark, it has corrected to support at 0.9115-0.9120. The situation remains bullish. The Japanese yen has suddenly become strengthened against the U.S. dollar , after the pair USD / JPY hit 104.75 resistance level . At the time of writing , currency pair formed a session low at 104.17. Slightly lower at 104.10 there is strong support that can launch pad for new purchases.
Commodity currencies today behave calmly enough . Thus, the AUD / USD has consolidated all day in the range of 0.8780-0.8840. In the U.S. session bulls have a slight advantage restoring the pair to the 0.8820 mark. NZD / USD pair held above the figure of 0.8300, then returned to the current maximum of 0.8340. Here the term trend threatens to turn into bullish.
The emergence of positive data on industrial orders in Canada (growth rate to 1.0 % , the forecast - up 0.4 % ) has messed the plans of the bulls on the pair USD / CAD in some way. Forming a new extremum at 1.1017 area the pair has corrected to 1.0975 support, where at the moment it has been continuing trading. The total bullish pattern has not changed much.
Tatiana Norkina , an analyst at FBS