EUR/USD
In low volatility this European morning, the pair is moving directionless, currently at 1.3165. We do not expect any significant change for today in the market's behavior and project a sideways trend with a slight selling tone, between levels of 1.3190 and 1.3155.
GBP/USD
Some selling has put cable down to 1.5857 right now in early European trading. While we see no aspect for much further downside risk (1.5825 at the most), we expect the upside to be limited as well, at 1.5875.
USD/CHF
A quiet summer market has put the dollar to sleep in the European morning, priced at this moment at 1.0486 against the Swiss franc. We expect this level to be defended more or less today, in a bandwidth between 1.0490 and 1.0455.
USD/JPY
After a short upswing against the yen in late Asian trading, the dollar is currently trading slightly downwards again, at 86.05 now in the European morning. We expect more of the downmove to come today, to levels around 85.75.
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