Good morning. Herewith we would like to present our daily currency market forecasts.

EURUSD
After reaching 1,5830 the rate shall move in range 1,5780-1,5710.  A breach through 1,5710 will initiate next downward correction to 1,5660/1,5630.

USDJPY
The pair is seen in range 106,50-105,30. Only a rebound above 106,50 can lead to 107,20 level. Below 105,30 drops to 104,70 area are possible.

USDCHF
After a bounce off the support line at 1,0150 a neutral trading range is seen. Its upper limit is at 1,0240. Above this level a rebound towards 1,0310 is possible.

GBPUSD
After a breach through 1,9860 we expect rises to 2,0040 today. Below 1,9925 there is a chance for a correction down to 1,9810.

For more comments and recommendations please visit our website www.bavariafund.com