Jan. 22: American session
The pair EUR/USD remained in the neutral zone today, below 1.3580 mark. Bulls did not find strength to overcome the current level and recover, so that currency pair went down at the beginning of the American session at 1.3550 area. However, the bulls are not retreating - trades are now conducted at the two-day resistance 1.3565. British pound storms annual maximum against the dollar (GBP/USD), testing the level of $1.6580. Positive attitude of traders increased after publication of the labor market report: the unemployment rate in the UK decreased to 7.1%, while analysts forecast was 7.3 %.
USD/CHF pair is traded in a fairly narrow range. After the European bulls were unable to overcome the resistance 0.9120, the pair collapsed again to 0.9090 support, which holds the third day in a row. The response of the bulls at the beginning of the American session has not yet led to the consolidation of prices above the 0.9100 figure. USD/JPY pair is tested the 104.50 mark for the second time today, but again fell back to the level of 104.35. Bulls were disappointed with the results of today’s press conference of the Bank of Japan, during which it became known that the bank is not going to change its monetary policy. Pressure on the pair is obviously to be saved.
The pair AUD/USD is going down in the 0.8850 area, after flew to the daily maximum of 0.8890 this morning due to the news of inflation rising to 0.8% in the last quarter. Its workmate - NZD/USD pair - remains inside the channel 0.8300-0.8340 the second day in a row. And at the moment bears are increasing the pressure on the support formed by 0.8300 figure.
USD/CAD pair shot to the new maximum - 1.1065 – as a result of the Bank of Canada meeting. In particular, the bank left the interest rate on the same level - 1.0 %, but at the same time, the comments were not in favor of national currency.
Tatiana Norkina, FBS analyst