EUR/USD
Current level – 1.1045
From а price action point of view this market didn’t show much in the last few trading sessions. The pair is trading in a tight range between 1.1010 and 1.1060. The lack of volatility could be explained by the upcoming interest rate decision and statement of ECB scheduled for this Thursday. Investors’ expectations are for more stimulus and easing. The nearby resistance is at 1.1060 and, should it be breached, we can expect the price to reach next resistance zones of 1.1160 and 1.1200.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1060 | 1.1160 | 1.1020 | 1.0930 |
| 1.1160 | 1.1200 | 1.0970 | 1.0850 |
USD/JPY
Current level – 107.59
Concerns about the global economic growth have waned in the last week and the US dollar managed to gain traction against the Japanese yen. The market is in a trending phase with nearby supports at 107.40 and 107.00. The nearest targets are 108.00 and 108.80, the second of which is stronger and we may even witness a deeper correction.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 108.00 | 108.80 | 107.40 | 106.40 |
| 108.80 | 109.50 | 107.00 | 105.80 |
GBP/USD
Current level – 1.2345
The sterling is also trading in a range limited between 1.2373 and 1.2273. Here, the price action and sentiment are mostly influenced by the political shakeouts in the UK, so witnessing sharp and unexpected moves is not excluded. Should we see a strong breach which is then confirmed later on, the price could head towards the next substantial resistance zone of around 1.2480-1.2500.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2360 | 1.2400 | 1.2260 | 1.2170 |
| 1.2400 | 1.2500 | 1.2200 | 1.1970 |
