EUR/USD
Current level – 1.0860
The currency pair has been trading in the narrow range between 1.0830 and 1.0886 as the euro is set to strengthen its positions against the dollar, but to do so, it must first break the key resistance at 1.0900. If the latter is not broken, the more likely scenario will be a move towards 1.0830. Today, the main news that investors will follow is the European Central Bank’s Main Interest Rate decision at 11:45 GMT.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.0900 | 1.0960 | 1.0830 | 1.0650 |
| 1.0900 | 1.1030 | 1.0770 | 1.0570 |
USD/JPY
Current level – 106.57
Although the pair tried to rise in the early hours of today’s trading session, the move was quickly curtailed by investors and the resistance at 106.98 was not even tested. The forecast is for the negative movement to continue and the pair to break the local bottom at 106.33.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 107.00 | 109.25 | 106.00 | 103.40 |
| 108.00 | 111.50 | 105.60 | 103.40 |
GBP/USD
Current level – 1.2456
The pair managed to break through and hold on to the important resistance at 1.2435, which is now acting as a level of support. The aforementioned was tested at the beginning of today’s trading session, but was not broken, so the GBP/USD is projected to continue its upward movement and test the next major resistance at 1.2520.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2470 | 1.2620 | 1.2435 | 1.2190 |
| 1.2520 | 1.2830 | 1.2360 | 1.1800 |
