Dollar index beat support at 91.70
The US dollar index beat support at 91.70, so I consider a further fall in the USDX as the main scenario. The local goal for sellers is the 91.00 mark – a technical and at the same time psychological level of support. The downside scenario remains a priority until quotations above 91.70 are returned and the quotations are subsequently fixed above the indicated level.
At the same time, only the setting of quotations in the area of technical resistance 92,00-92,15 indicates the willingness of bulls to resume growth to the next resistance level of 92,65.
EUR/USD
With the opening of trading during the Asian session, demand for the pair increased significantly, thus contributing to the transfer of the pair to the target level of 1.2000. The closest support is 1.1930, the breakthrough of which will significantly increase the risk of a further drop towards base 18.
Given the low saturation of information environments from Europe and the United States, today trade activity may remain moderate. At the same time, the emergence of information on the effective fight against COVID in Europe and the United States will contribute to the further development of this pair and, as a result, to the implementation of an upward scenario.
GBP/USD
After a false breakout support level of 1.3300, buyer activity increased significantly. But since at the time of writing the pair was kept in the middle of the sidebar 1.3300-1.3400, active purchases on the market are no longer suitable. At the same time, another return of steam to the support level of 1.3300 will significantly increase the risk of a stronger wave of decline. In this case, the closest support will be the 1.3160 mark, the breakthrough of which will open the way to 1.3100. Today, the UK will not publish important macroeconomic reports, so the volatility of this currency pair may remain moderate.
USD/JPY
Moderate weakening of the USD has put additional pressure on the pair, but the activity of sellers below the psychological level of 104.00 remains very weak. In addition, active sales above technical support level 103.70 are not appropriate. Therefore, I still do not see high-quality trade signals for this currency pair.
