Good morning. Herewith we would like to present our currency market commentary for today.

EURUSD
Large reduction of the quotation is caused by big market players who close their positions. This fall can even go lower to 1,5100 or even 1,5080. However, for now the nearest substantial support level is at 1,5145 and regarding that the market is pretty much oversold, we consider a retreat to 1,5220 as possible.

USDJPY
Next strong resistance is placed at 110,15 and if the rate bounces off this line it should fall to 108,70.

USDCHF
We consider 1,0735 as the nearest resistance level. Downside rebound may lead to 1,0630. Due to Friday trading we do not exclude the possibility that 1,0735 is broken. Above this level the rate can reach 1,0770.

GBPUSD
Strong resistance is seen at 1,9250. Around that level we suggest opening long positions with take profit order at 1,9340.