Feb. 3: American session
Unexpectedly low rate of U.S. manufacturing activity index (51.3 vs. 56.4 expected) allowed the pair EUR/USD move forward today. Consolidation above 1.3480 support ended abruptly to 1.3525 mark, but the bulls cannot gain a foothold above the 1.3500 figure yet. Today decreasing of the pair GBP/USD was contributed by negative data on manufacturing activity in the UK as well. The pair continues to fall at session minimums in the area of 1.6325. There is a strong support, which is held from December, 23rd last year.
USD/CHF pair had formed a session maximum at the 0.9060 level, and then fell abruptly to 0.9017 mark. At the moment, prices have been adjusted to the level of 0.9035, but bears do not stop the pressure. The test of 0.9000 figure may occur. The currency pair USD/JPY fell below the support of 102.00 figure. During the current session the minimum was fixed at 101.20 level. Note that in this area there is another very powerful support.
The pair AUD/USD tried to slip through the recent resistance of 0.8825, which is held during the last five trading days. At this time the bulls again failed to overcome it, there is a consolidation at the level of 0.8810. New Zealand Dollar breaks above $$ 0.8090-0.9120 range within which consolidated all the day today. NZD/USD pair is trading at 0.8135 mark.
Canadian dollar continues to strengthen against the U.S. dollar. USD/CAD pair fell to the levels of January, 27th - 1.1040. Currently the market is much oversold. The rebound to 1.1090 mark is possible.
Tatiana Norkina, FBS analyst