EUR/USD
Current level – 1.1079
Over the last trading session the pair couldn’t breach the resistance at 1.1090, while in the meantime bear pressure wasn’t significant. This time the charge towards 1.1090 looks stronger and with a better momentum than the one from mid-October. The possibility for a breach of the resistance and a rally towards 1.1140 and 1.1170 remains high. Should a retracement or a lasting consolidation occur, the pair would rather remain limited above 1.1063. Today’s economic data for the Eurozone (09:00 UK time), the ADP Nonfarm Employment change (13:15 UK time) and ISM Non-Manufacturing index (15:00 UK time) for the US could cause some volatility.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1090 | 1.1170 | 1.1060 | 1.0990 |
| 1.1140 | 1.1190 | 1.1020 | 1.0880 |
USD/JPY
Current level – 108.49
Elevated risks for global growth and new trade conflicts pushed investors towards safe heavens and the yen soared against the dollar since the beginning of the week. We might witness a test of the support at 108.25 if the sell-offs continue. A breach of that level would only strengthen bearish momentum and sentiment. Key resistance for a retracement would be around 108.90.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 108.65 | 109.20 | 108.25 | 107.05 |
| 108.90 | 109.60 | 107.90 | 106.60 |
GBP/USD
Current level – 1.2998
Yesterday the Cable closed above the range that was formed over the last month. The sterling is just below October highs, as the possibility for a breach and a rally towards 1.3110 remains the favorable scenario. Major support for buyers would be the 1.2965 zone.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3000 | 1.3170 | 1.2960 | 1.2820 |
| 1.3110 | 1.3320 | 1.2895 | 1.2820 |
