FX – Currency Market Outlook

With military intervention by Britain, France and the US in Syria becoming a real possibility, many investors fled into currencies which are deemed safer right now like the JPY or CHF. This helped the JPY to its best performance against the USD over the last 10 weeks and it rose by 1.5% yesterday. Similarly, the CHF managed to gain more than half a cent against the USD yesterday, reaching a level around 0.9179. The EUR/USD currency pair is still trading within its favoured range, with 1.3414 being the resistance level and  1.2860 being the support level. The MACD is backing the recent gains, so we might see the resistance level being tested again soon.