EUR/USD
Current level – 1.0883
At the time of writing the analysis, the currency pair is trading at levels just below 1.0900. After yesterday’s successful breakout of the support area at 1.1100, and then at 1.1000, the bulls managed to stop the selling at 1.0800. The EUR/USD might consolidate around 1.0900, with sentiment remaining negative – for a break through the support at 1.0860, followed by 1.0775. Also, ECB’s announcement of a 750 billion emergency bond-buying program adds to the negative expectations for the euro.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.0955 | 1.1100 | 1.0860 | 1.0780 |
| 1.1000 | 1.1180 | 1.0800 | 1.0780 |
USD/JPY
Current level – 109.18
The successful breakthrough of the resistance at 107.50, and then at 108.50, paved the way for a rise and test of the next resistance zone at 109.95. A successful breakthrough at this level will also increase the chances for a subsequent test of 111.50. In downward direction, the main support lies around 106.80.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 110.00 | 111.50 | 108.50 | 106.80 |
| 110.00 | 111.50 | 107.50 | 105.10 |
GBP/USD
Current level – 1.1473
The pound suffered staggering downturns during yesterday’s trading session and reached levels last observed 35 years ago, in 1985. The sentiment remains negative and only favourable news for the UK economy and the taking of more serious measures by the UK government to deal with the coronavirus would give traders and investors an incentive to push the pound back in a positive direction.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1600 | 1.2000 | 1.1440 | 1.1300 |
| 1.1800 | 1.2200 | 1.1440 | 1.1200 |
