June 3: American session
Tatiana Norkina, analyst at FBS
U.S. dollar index is showing signs of recovery after the publication of positive data on production orders. Over the past month, this number has increased by 0.7%, while analysts have expected only 0.5%. However, according to the revised data, the previous period growth was 1.5%. This is sure to put extra pressure on the U.S. currency.
Thus, the EUR/USD currency pair was returning to yesterday's highs of 1.3650 today, but has pulled back to the 1.3620 support by now. GBP/USD has tested the 1.6780 resistance again, but it is becoming apparent that the bulls are unable to overcome this level yet. Trades are carried out in the 1.6730 area. The USD/CHF pair has once more bounced back from the 0.8980-0.8990 resistance, collapsing to the 0.8850 level. But the bulls did not give up and restored the rate to the 0.8970 figure. The USD/JPY currency pair is consolidating near the 102.50 mark. Breakthrough upward is possible.