Intraday Market Outlook for Day Traders
EUR/USD
Regaining some of its lost territory, the pair in the European morning hours is currently trading at 1.3199. We see the upside limited today at 1.3220, from where another weak move could set in, to levels around 1.3150.
GBP/USD
Cable is conolidating its lower levels in a quiet European morning market, standing presently at 1.5885. This recovery will not lead above 1.5900, where we expect selling to come into the market, testing the 1.5790 mark.
USD/CHF
The dollar is starting to act more weakly against the Swiss franc in early European trading and is priced right now at 1.0457. We see this as a down correction of the previous upmove and do not expect much further downside risk today, rather reckoning with an upmove to 1.0525.
USD/JPY
Against the yen, the dollar continues to consolidate its higher levels, presently at 86.20, a move we think will end in a upward breakout towards the 86.80 level today.
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