Good morning. Herewith we would like to present our currency market forecasts concerning situation on the currency market.

EURUSD
Market is waiting for the ECB's decision on interest rates. The pair is seen trading in range 1,2820-1,2920. In the morning hours upside rebound is very likely, its range we assess for 1,2990 or even 1,3050. If the direction is confirmed in the afternoon, the level of 1,3300 is expected to be reached. Otherwise we should return to the morning levels. Only the fall below 1,2800 may cancel this scenario.

GBPUSD
Range of trading is set between 1,5780-1,5990. Upside rebound is expected to reach 1,6120 or even 1,6340.

USDJPY
This pair is oscillating between 97,50-98,40. Downside rebound will bring the rate to 96,30 area.

USDCHF
Is moving in range 1,1690-1,1560. Drop below the lower limit will lead to the test of 1,1500. In case of a breakout at 1,1690 gains can reach 1,1740/80.

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